QBE reports $254m loss for 2013
Gross written premiums fell at insurer.
QBE has reported a loss of $254m [£152.3m] for 2013, as opposed to a net profit after tax of $761m the year before.
The provider also declared a 2% fall in gross written premiums (GWP) to $18bn (2012: $18.4bn).
QBE stated that the fall was largely due to a $715m reduction in North American business.
The European operations saw a 3% increase in GWP to $5.23bn but the insurance profit fell 41% to $192m and the combined operating ratio (COR) deteriorated to 96.1% from 94.6% in 2012.
The insurer's
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