QBE addresses market rumours
QBE has issued a statement regarding its potential exposure to the Gulf of Mexico oil rig disaster and Insurance Australia Group's (IAG) announcement on motor liability claims.
In regards to the Gulf of Mexico oil spill disaster, QBE said it has "significant external reinsurance protections in place for claims of this nature".
Referring to IAG's announcement on UK claims reserves, QBE said it recently reviewed its claims reserves for UK motor liability claims and that the reserves held at 31 December 2009 are adequate.
It added that these claims reserves "included an allowance for the anticipated higher bodily injury claims being experienced in the UK".
In addition
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