QBE’s Americas division reports improved COR in 2011 H1

QBE the Americas Division reported a combined ratio of 88.9% in the first half of 2011, marking an improvement from the 91% reported during the same period of 2010.
Gross written premiums increased 50% to $3.5 billion in 2011 H1, compared to $2.3 billion in 2010 H1. “This was due to several recent acquisitions – the Balboa Insurance portfolio and the RenaissanceRe U.S. operations earlier this year, NAU Country in 2010 and Segurors Colonial, which expanded the company’s reach into Ecuador last year,” a QBE release says.
“Overall results from the Americas Division demonstrate continued improvement in profitability despite challenging industry conditions and the continuing impact of catastrophes and U.S. storm and tornado activity.”