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4-Traders Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  QBE Insurance Group Ltd    QBE   AU000000QBE9

QBE INSURANCE GROUP LTD (QBE)
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Mexican Quake Insured Property Damage Seen At MXN2.07 Billion

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03/23/2012 | 10:58pm CEST

MEXICO CITY (Dow Jones) -- The strong earthquake that struck Mexico on Tuesday may trigger 2.07 billion pesos ($162 million) in payouts for damages to insured property, Mexican insurance association AMIS said Friday.

The estimate is based on the magnitude of the tremor, which reached 7.4 on the Richter scale, AMIS said. Had the quake hit a magnitude of 7.8, as initially reported, then damage estimates would have been closer to MXN5.60 billion.

The insurance association predicts that 80% of the insured damages took place in the state of Guerrero, with some damage claims also expected to arise in the Federal District as well as in the states of Oaxaca and Puebla.

While a 7.4-magnitude tremor is capable of causing major damage, the Mexican capital -- the country's economic heart -- escaped widespread damage.

Major international insurance companies operating in Mexico include MetLife Inc. (MET), AXA SA (>> AXA) and QBE Insurance Group Ltd. (>> QBE Insurance Group Limited).

Home insurance is not common in Mexico, with only mortgage debt typically covered by policies; just over 31% of homes carry some degree of insurance linked to a loan. Apart from obligatory coverage for debt on mortgaged homes, only 4.5% of homes are insured by their owners.

-By Amy Guthrie, Dow Jones Newswires; (5255) 5980-5177; [email protected]

Stocks mentioned in the article : AXA, QBE Insurance Group Limited
Stocks mentioned in the article
ChangeLast1st jan.
AXA -0.72% 21.265 Real-time Quote.-13.40%
METLIFE 0.11% 45.71 Delayed Quote.-9.59%
QBE INSURANCE GROUP LTD -0.62% 9.58 End-of-day quote.-9.74%
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Financials ($)
Sales 2018 12 367 M
EBIT 2018 983 M
Net income 2018 678 M
Debt 2018 -
Yield 2018 4,99%
P/E ratio 2018 13,86
P/E ratio 2019 11,25
Capi. / Sales 2018 0,79x
Capi. / Sales 2019 0,76x
Capitalization 9 725 M
Chart QBE INSURANCE GROUP LTD
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QBE Insurance Group Ltd Technical Analysis Chart | QBE | AU000000QBE9 | 4-Traders
Technical analysis trends QBE INSURANCE GROUP LTD
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TrendsBearishBearishBearish
Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 12
Average target price 8,75 $
Spread / Average Target 22%
EPS Revisions
Managers
NameTitle
Patrick Charles Regan Group Chief Executive Officer & Executive Director
William Marston Becker Independent Chairman
David McMillan Chief Operating Officer
Inder Singh Group Chief Financial Officer
Matt Mansour Chief Information Officer
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