QBE Insurance Group Limited (ASX:QBE) has swung to a loss of $US254 million in the 2013 calendar year, from a profit of $US761 million the year before.
Australia’s largest insurance company says while its result was impacted by its North American operations it is making excellent progress with its global transformation program.
CEO John Neal says QBE has introduced changes to key management and taken significant steps to reposition and right-size underperforming businesses in North America.
Mr Neal also advises key leading indicators last year will enable the insurer to target a markedly improved performance in 2014.
A fully-franked final dividend of AUD $0.12 has been declared, bringing the total payout to a fully-franked AUD $0.32.
