QBE Class Action, page-7

Hi ikj64

Re your point 3, I could not agree more. I also worked for an American International company. We had the Australian Accounts to them with 3 workings days at the end of each month. One week for them to consolidate and massage in the States. So by mid month, monthly accounts and forecasts were produced on a consolidated basis. As they had quarterly reporting to wall street, they would have them out by third week following the quarter.
In addition, we would have by-monthly updates and forecast each month.
And computers were only getting going at the time.
This BS that Directors feed us to justify their millions in salaries just makes me sick. Now days, up to date information is available at call. If things are amiss, alarm bells will sound on a daily basis. I know for an insurance company you have to do actuarials etc, but this also is an going basis. I agree with you, they deserve everything they get, but as the share price yesterday demonstrates, they fat bonuses don't suffer, it is us share holders.

Pear