i buy stock goes south, page-27

Times like this I wish QBE used less conservative measures to prop up profit rather than look to the long term! lol

According to Huntleys, lower interest rates in the US & UK impacted the probability of adequacy by 1.2% ($181 million) - effectively knocking it from 94% to 92.8%. However, QBE decided to be prudent and absorb this in the P&L effectively decreasing profit by $181 million. I understand the over recent years when the probability of adequacy increased QBE let it increase rather than taking it to the profit line.

I guess in a market especially negative on anything related to financials even conservative companies get canned.

MJS