Australian insurance giant QBE has reported a significant rise in half-year profits, but have, at the same time, also been quick to downplay their full-year margin expectations due to the unprecedented string of heavy catastrophe claims incurred in 2011. In a statement released to the Australian Stock Exchange, QBE posted a 53 percent rise in net profit for the six months of 2011 to June 30, up to…

Australia-based QBE has recently announced the acquisition of Seattle Specialty Insurance Services Inc., through its US-based subsidiary Sterling National Corporation. With headquarters in Everett, Washington since 1992, Seattle Specialty Insurance Services has been providing insurance services to financial institutions, and will operate as a wholly-owned subsidiary of Sterling National.