catastrophe insurance vertical hit (naturally) UPDATE 1-Australia's QBE cuts insurance margin fcast, shares hit | Reuters

UPDATE 1-Australia's QBE cuts insurance margin fcast, shares hit | Reuters:

plus other verticals within insurance/re-insurance being hit, it is surprising that not much visible efforts been done to look for 'new markets'... it is surely a bit strange!? ;-)

"Large catastrophe claims for the financial year to date came from storms and a cyclone in Australia's Queensland state, storms in the state of Victoria, other storms in Australia, New Zealand's Christchurch earthquake, the Japan earthquake and eight major tornadoes in the United States.

QBE is not alone. Global insurers including Travelers Cos (TRV.N), Allstate Corp (ALL.N) and MetLife (MET.N) have also warned of difficulties following an unprecedented start to the year for the industry. [ID:nN10172421].

"

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