News Headline Summary

QBE Insurance Group (QBE AT) says QBE advises its preliminary estimate of retained losses from superstorm Sandy will be in the range of USD 350mln to USD 450mln

Says:

- Revised its projected insurance profit margin to around 8% for 2012.
- Now expects to report a net profit after tax before amortisation in excess of USD 1000mln for the year to 31st December 2012, an increase of around 30% compared with 2011.

Reaction details:

- Co. shares fall 8.5% at the open of the ASX200, following the pre-market news.

Print 22:47, 11 Nov 2012 - Asian News - Source: Newswires