QBE still has loss cushion on large risks
AUSTRALIA-based insurer QBE said today that its estimated large-risk and catastrophe claims (net claims of AUD2.5m and above) for 2010 to date have come to AUD470m ($431.5m), up from about AUD430m in the same period last year, but CEO Frank O’Halloran noted that “despite the unusual frequency of catastrophes for this year, we still have a significant allowance of around AUD810m for the remainder of 2010”.