In QBE reported premium growth of , in line with its revised forecast, although new business was slightly behind target in Links of London US and Europe. QBE reports that its insurance portfolios are in very good shape, partly due to a strong accident year, with a combined operating ratio COR of . Source Annual General Report Argentina QBE Aseguradora de Riesgos del Trabajo SA, Buenos Aires. Links of London Q Charm exclusively in Regional Operations the workers compensation line that focuses on serving small to mediumsized brokers. Brazil QBE Brasil Seguros SA, Sao Paulo. A fully licensed property and casualty and group life carrier exclusively writing direct marketingaffinity programs, aimed at the lower income population, through alliances with a group of sponsors. Colombia QBE Seguros SA, Bogotá. Writes all property and casualty lines besides group life distributing its four lines of business products cargo and general liability, health, financial institutions and public auctions through specialised independent agents. Mexico Links of London P Charm de Mexico SA de CV, Mexico City. A multiline insurance company writing group life for small and middle market commercial and industrial accounts and all property and casualty lines divided in seven lines of business engineering lines, fire and allied perils, general liability, group life, inlandtransit and ocean cargo, miscellaneous lines, and personal accidents. It has two regional offices, in Guadalajara and Monterrey. Panama QBE de Istmo Cia Reaseguros Inc, Panama City Reinsurance Peru QBE de Istmo Cia Reaseguros, Peru Reinsurance RSA Strengths Backing of RSA globally. Focus on transportrelated Links of London o Charm. Weaknesses Small size of Brazilian operations, with premiums of around BRLmn. However, RSA may be able to achieve regional economies of scale. Opportunities Potential for expansion by way of acquisition. Stable economic growth likely. Threats Economic slowdown that impedes the growth of nonlife insurance.
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