Our history
The QBE Insurance Group is Australia's largest general insurance and reinsurance group. The growth of QBE Group, nationally and internationally, since its small beginnings in 1886, is the story of an institution that for more than 120 years has played a significant part in Australian commercial history.
In October 1886, James Burns and Robert Philp, two young Scotsmen, formed The North Queensland Insurance Company Limited. By 1890, the company had established over 36 agencies in countries such as London, Hong Kong, Singapore, New Zealand and many Pacific Islands.
The QBE name is derived from three originating companies:
the "Q" in QBE comes from Queensland Insurance, Bankers' and Traders' and Equitable merger in 1973 with the new holding company,
QBE Insurance Group Limited being listed on the Australian Securities Exchange,
the "B" in QBE comes from Bankers' and Traders' Insurance Company Limited formed in 1921,
the "E" in QBE comes from The Equitable Probate and General Insurance Co. Limited acquired in 1959.
Since those early beginnings and through stable growth, merger and strategic acquisition, QBE has grown to become one of the top 25 insurers and reinsurers worldwide. QBE now operates in all key insurance markets with offices in 45 countries and over 10,000 employees worldwide. We look forward to the future with the same excitement, determination and enthusiasm that our founders did in 1886.
| Key milestones in the growth of QBE Group | |
| 1886 | The North Queensland Insurance Company Limited is founded in Townsville |
| 1921 | The Bankers’ and Traders’ Insurance Company Limited is formed; the “B” in QBE |
| 1959 | The final letter in QBE’s name was put in place with the acquisition of the Equitable Probate and General Insurance Company |
| 1973 | Queensland Insurance, Bankers’ and Traders’ and Equitable merge. The new holding company, QBE Insurance Group Limited, is listed on the Australian Stock Exchange; the “Q” in QBE |
| 1981 | QBE makes the first of a series of acquisitions |
| 1989 | Thailand joint venture established |
| 1990 | Indonesian joint venture established |
| 1991 | The Group unwinds its cross-shareholdings with Burns Philp & Company Limited with Australian institutional shareholders increasing their equity in QBE |
| 1992 | Australian Eagle Insurance Company Limited and some small overseas portfolios are acquired |
| 1997 | QBE acquires 74.9% of Trade Indemnity Australia Limited (increased to 100% in 2000) |
| 1999 | The QBE Mercantile Mutual joint venture commences in Australia |
| 2000 | Acquisition of Limit plc, a major corporate capital provider and manager of capacity in the Lloyd's insurance market |
|
2001 |
QBE acquires ex HIH Australia travel and commercial lines portfolios in Australia, New Zealand and Argentina. Further Latin American expansion via acquisition of QBE Asequradora de Riesgos del Trabajo, S.A. (Argentina) and QBE Brasil Seguros, |
| 2002 | QBE Mercantile Mutual wins National Insurance Brokers Association (NIBA) General Insurer of the Year Award for the first time |
| 2003 | Acquisition of Lloyd's Syndicate 980 (Ensign) commercial motor business |
| 2004 | Acquisition of ING’s 50% share of QBE Mercantile Mutual in Australia and the Zurich Insurance business in Singapore |
|
2005 |
Expansion of QBE's distribution network in mainland Europe continues with the acquisition of Greenhill Underwriting Group, increased presence in France and acquisition of agencies in Spain and Germany; Purchase of two UK based niche commercial businesses, MiniBus Plus and British Marine Holdings; Acquisition of the US based National Farmers Union P&C business and QBE Central de Seguros, S.A. (Colombia) |
| 2006 | Acquisition of US based One Beacon Agriculture division (now QBE Agri Business) |
| 2007 | Acquisition of Winterthur US, Praetorian Financial Group and QBE Mexico Seguros, S.A. (Mexico) which completes QBE's strategy to build four major business streams in the Americas i.e: specialist insurance programmes; P&C insurance in regional markets; reinsurance; and Latin America |
|
2008
|
Acquisition of US based North Pointe Holdings Corporation; |
| 2009 |
Acquisition of Elders insurance and Elders agency business in Australia, together with our continued expansion into regional US and Europe via agency distribution channels. |