QBE Syndicate 2999 Annual Report and Accounts 2009
QBE Syndicate 2999 Annual Report and Accounts 2009 QBE Syndicate 2999 Annual Report and Accounts 2009
01 QBE Syndicate 2999 highlights 02 QBE European Operations overview 04 What makes QBE different? 06 Syndicate performance and strength 07 Business of the syndicate 08 QBE Reinsurance Syndicate 566 09 QBE Marine and Energy Syndicate 1036 10 QBE Syndicate 1886 QBE Insurance Group The Americas QBE Insurance (Europe) Limited QBE Reinsurance Syndicate 566 11 QBE Property Syndicate 2000 12 QBE Aviation Syndicate 5555 13 Report of the directors of the managing agent 20 Managing agency – corporate information 21 Risk management 22 Independent auditors’ report to the member of QBE Syndicate 2999 QBE Underwriting Limited QBE Marine and Energy Syndicate 1036 European Operations QBE Syndicate 2999 QBE Syndicate 1886 23 Profit and loss account: technical account – general business 24 Profit and loss account: non-technical account 25 Balance sheet 27 Statement of cash flows 28 Notes to the financial statements 42 Glossary of insurance terms 44 QBE Syndicate 2999 contacts Australia Asia Pacific QBE Reinsurance (Europe) Limited QBE Casualty Syndicate 386 QBE Property Syndicate 2000 QBE Aviation Syndicate 5555
QBE Syndicate 2999 highlights QBE Syndicate 2999 has delivered another strong result in the face of challenging market conditions and absence of significant catastrophe losses. Gross written premium (GWP) £million 09 08 Net earned premium (NEP) £million 09 08 09 08 Combined operating ratio (COR) % 09 08 117 852 588 Net underwriting profit (NUP) £million 1,040 728 174 85.9 79.7 GWP : £1,040m : +22% NEP : £728m : +24% NUP : £174m : +49% COR : 85.9% 01 QBE Syndicate 2999 Annual report 2009
- Page 1: QBE Syndicate 2999 Annual report 20
- Page 5 and 6: Major events in 2009 • Growth ach
- Page 7 and 8: 3. Empowers through a collaborative
- Page 9 and 10: Business of the syndicate QBE Syndi
- Page 11 and 12: QBE Marine and Energy Syndicate 103
- Page 13 and 14: QBE Property Syndicate 2000 Busines
- Page 15 and 16: Report of the directors of the mana
- Page 17 and 18: During 2009 we installed a new Head
- Page 19 and 20: Investment performance The total in
- Page 21 and 22: Statement of managing agent’s res
- Page 23 and 24: Risk management The syndicate’s a
- Page 25 and 26: Profit and loss account: technical
- Page 27 and 28: Balance sheet As at 31 December 200
- Page 29 and 30: Statement of cash flows For the yea
- Page 31 and 32: 1 Accounting policies continued b)
- Page 33 and 34: 1 Accounting policies continued g)
- Page 35 and 36: 4 Claims outstanding During the yea
- Page 37 and 38: 9 Other financial investments conti
- Page 39 and 40: 10 Financial risk continued i) Mark
- Page 41 and 42: 12 Overseas deposits These are lodg
- Page 43 and 44: 17 Related parties The managing age
- Page 45 and 46: Net investment income Gross investm
- Page 47 and 48: Designed and produced by 85FOUR www
01 <strong>QBE</strong> <strong>Syndicate</strong> <strong>2999</strong> highlights<br />
02 <strong>QBE</strong> European Operations overview<br />
04 What makes <strong>QBE</strong> different?<br />
06 <strong>Syndicate</strong> performance <strong>and</strong> strength<br />
07 Business of the syndicate<br />
08 <strong>QBE</strong> Reinsurance <strong>Syndicate</strong> 566<br />
09 <strong>QBE</strong> Marine <strong>and</strong> Energy <strong>Syndicate</strong> 1036<br />
10 <strong>QBE</strong> <strong>Syndicate</strong> 1886<br />
<strong>QBE</strong> Insurance Group<br />
The Americas<br />
<strong>QBE</strong> Insurance (Europe) Limited<br />
<strong>QBE</strong> Reinsurance<br />
<strong>Syndicate</strong> 566<br />
11 <strong>QBE</strong> Property <strong>Syndicate</strong> 2000<br />
12 <strong>QBE</strong> Aviation <strong>Syndicate</strong> 5555<br />
13 <strong>Report</strong> of the directors of the<br />
managing agent<br />
20 Managing agency – corporate information<br />
21 Risk management<br />
22 Independent auditors’ report to the<br />
member of <strong>QBE</strong> <strong>Syndicate</strong> <strong>2999</strong><br />
<strong>QBE</strong> Underwriting Limited<br />
<strong>QBE</strong> Marine<br />
<strong>and</strong> Energy<br />
<strong>Syndicate</strong> 1036<br />
European Operations<br />
<strong>QBE</strong> <strong>Syndicate</strong> <strong>2999</strong><br />
<strong>QBE</strong> <strong>Syndicate</strong><br />
1886<br />
23 Profit <strong>and</strong> loss account:<br />
technical account – general business<br />
24 Profit <strong>and</strong> loss account:<br />
non-technical account<br />
25 Balance sheet<br />
27 Statement of cash flows<br />
28 Notes to the financial statements<br />
42 Glossary of insurance terms<br />
44 <strong>QBE</strong> <strong>Syndicate</strong> <strong>2999</strong> contacts<br />
Australia Asia Pacific<br />
<strong>QBE</strong> Reinsurance<br />
(Europe) Limited<br />
<strong>QBE</strong> Casualty<br />
<strong>Syndicate</strong> 386<br />
<strong>QBE</strong> Property<br />
<strong>Syndicate</strong> 2000<br />
<strong>QBE</strong> Aviation<br />
<strong>Syndicate</strong> 5555
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