One of the biggest insurance and reinsurance groups in Australia is the QBE Insurance Group. James Burns formed the foundation of this insurance group in 1886 when he established the The North Queensland Insurance Company Limited. After four years, Burns' insurance company has expanded internationally with 36 agencies in Asian countries like Hong Kong and Singapore and even as far as
London, England.
The development of the QBE Insurance Group played a big part in the
history of Australia's commerce. The B in QBE is the "Bankers' and Traders' Insurance Company Limited" which was formed in 1921. The E is the "The Equitable Probate and General Insurance Co Limited" which was acquired in 1959. The Q on the name of the institution is "Queensland Insurance." Along with Bankers' and Traders' and Equitable it merged with a new company and formed the QBE. Over the years QBE Insurance group acquired several other insurance companies and groups which contributed to its international growth.
The QBE Insurance Group values the satisfaction of their customers and maintains that satisfaction. Their employees are well motivated to provide quality services to their clients. The institution also makes sure that they operate with integrity with the interest of customers as their priority. Now that is what
insurance companies should be all about.
