what ... seems no one interested in the result

Not up to expectations perhaps? Decent bounce off the low of $22.45. QBE is still a top company in my books


Sydney - Thursday - August 21: (RWE Australian Business News) -
QBE Insurance Group Ltd (ASX:QBE) net profit fell 7pc to $859m in the
six months ended June 30 from $921m for the first half of last year.
Revenue was steady at $7.01bn, against $6.98bn.
Basic earnings per share were 97.4c, down from $1.101.
Interim dividend has been increased from 57c to 61c, franked to
12.2c, payable on September 17 to shareholders registered September 1.
Directors said the lower profit was mainly due to volatility in
investment markets and the impact of translation to the stronger
Australian dollar.

*****

Chief executive Mr Frank O'Halloran said, "We are extremely
pleased with the strength and quality of our insurance profit given
market conditions and increased catastrophe activity in the first half.
"Our focus is on maintaining our quality customers and
profitability at this time in the cycle.
"We are only prepared to write new business at prices that meet
our profit requirements and this has meant that we are under budget on
the top line.
"We are also very pleased with the quality of our businesses
around the world, with the large majority of both our products and the
45 countries in which we operate producing underwriting profits."
Mr O'Halloran added, "We have reached agreement on eight
acquisitions this year to date, which are expected to contribute
netwritten premium income and incremental profit after tax of $550m an
$160m, respectively, in the first full year.
"We also have a pipeline of acquisitions and this, together with
the strength of our balance sheet, will enable us to convert further
opportunities for the benefit of our shareholders."