Ann: QBE 2009 Results , page-12

Is it all gloom and doom for QBE? I am an investor, bought some at $23 and a bit more at $22. QBE is at a p/e ratio of 11 with the chance of it going lower with an improved result next year with improving margins, improved investment results and from new acquisitions. It is the best run insurance company in Australia.The improving margins in this line of business is being confirmed by SUN and IAF. I see fund managers are giving another opportunity of buying good and reliable companies on the cheap. Surely short sellers do distinquish a good company with lots of cash compared to others. Perhaps QBE should have a share buyback to at least return the faith of shareholders or declare a special dividends that they do add share holders value.