Qbe Insurance Group Limited · ASX:QBE
Qbe Insurance — Shareholder Meeting (April 2014)
23 slides from Qbe Insurance's shareholder meeting presentation, Apr 2, 2014
Slide 1: Cover letter to ASX: 2014 AGM presentation slides
QBE Insurance Group Limited ABN 28 008 485 014 Level 02, 82 Pitt Street, SYDNEY NSW 2000 Australia GPO Box 82, Sydney NSW 2001 telephone + 612 9375 4444 • facsimile + 612 9231 6104 www.qbe.com For personal use only 2 April 2014 The Manager Markets Announcements Office ASX Limited Level 4 Exchange Ce
Slide 2: QBE Insurance Group 2014 Annual General Meeting
For personal use only QBE Insurance Group 2014 Annual General Meeting Marty Becker Chairman John Neal Group Chief Executive Officer 1
Slide 3: Chairman's address
For personal use only Chairman’s address Marty Becker 2
Slide 4: Agenda
Agenda For personal use only 1. Earnings stability and predictability 2. Completing the renewal of the Board and Executive team 3. Managing the balance sheet to meet all our stakeholder requirements 3 2014 Annual General Meeting
Slide 5: Group Chief Executive Officer address
For personal use only Group Chief Executive Officer address John Neal 4
Slide 6: Contents
Contents For personal use only • 2013 financial results summary • 2014 outlook • Building for the future 5 2014 Annual General Meeting
Slide 7: 2013 result overview
2013 result overview For personal use only • Net profit before amortisation and tax $797M (2012 $1,348M) Results • Net loss after tax of $254M (2012 profit of $761M) • Cash profit $761M (2012 $1,042M) • Insurance profit margin 5.5% (2012 8.0%) • Underlying 2013 insurance profit margin 10 - 11% • 201
Slide 8: Overview of 2013 divisional results
Overview of 2013 divisional results For personal use only Australia & North Latin New Asia Equator 2013 Group America America Europe Zealand Pacific Re GWP ($M) 17,975 5,854 1,380 5,225 4,786 730 3,295 NEP ($M) 15,396 3,051 1,208 3,609 3,971 500 3,057 Claims ratio (%) 64.5 78.7 61.8 62.0 58.3 42.4 6
Slide 9: 2014 targets
2014 targets For personal use only Gross written premium • US$16.8-17.3billion Net earned premium • US$14.7-15.2billion Combined operating ratio • around 93% Insurance profit margin • around 10% of net earned premium 8 2014 Annual General Meeting
Slide 10: Building for the future
Building for the future For personal use only 9 2014 Annual General Meeting
Slide 11: Closing comments
Closing comments For personal use only • Highly experienced leadership now in place • Claims provisions substantially strengthened Tough actions in 2013 • Top line sacrificed for future sustainable profitability • Operational transformational program setting platform for lower operating costs • 2013
Slide 12: Formal business
For personal use only Formal business Marty Becker, Chairman 11
Slide 13: Resolution 1: receive annual financial report
Item 1: For personal use only To receive and consider the annual financial report and the reports of the directors and of the auditors of the Company for the year ended 31 December 2013 12 2014 Annual General Meeting
Slide 14: Resolution 2: adopt the remuneration report
Item 2: For personal use only To adopt the remuneration report 13 2014 Annual General Meeting
Slide 15: Resolution 2: voting results
Item 2: For personal use only To adopt the remuneration report Resolution For Open Against Abstain 2 687,910,247 5,310,869 61,888,698 4,206,907 91.1% 0.7% 8.2% 14 2014 Annual General Meeting
Slide 16: Resolution 3: conditional rights grant to Group CEO
Item 3: For personal use only To approve the grant of conditional rights under the 2014 Long-term Incentive Plan to the Group Chief Executive Officer Maximum initial VWAP Initial maximum award share price number of rights A$3.15m A$12.68 248,423 15 2014 Annual General Meeting
Slide 17: Resolution 3: voting results
Item 3: For personal use only To approve the grant of conditional rights under the 2014 Long-term Incentive Plan to the Group Chief Executive Officer Resolution For Open Against Abstain 3 722,359,067 4,291,242 27,658,153 4,046,030 95.8% 0.5% 3.7% 16 2014 Annual General Meeting
Slide 18: Resolution 4a: elect Mr W M Becker
Item 4a: For personal use only To elect Mr W M Becker as a director of the Company 17 2014 Annual General Meeting
Slide 19: Resolution 4a: voting results
Item 4a: For personal use only To elect Mr W M Becker as a director of the Company Resolution For Open Against Abstain 4a 742,586,979 5,476,971 8,348,115 3,219,758 98.2% 0.7% 1.1% 18 2014 Annual General Meeting
Slide 20: Resolution 4b: elect Ms M M Y Leung
Item 4b: For personal use only To elect Ms M M Y Leung as a director 19 2014 Annual General Meeting
Slide 21: Resolution 4b: voting results
Item 4b: For personal use only To elect Ms M M Y Leung as a director Resolution For Open Against Abstain 4b 507,440,301 5,487,264 242,146,066 4,558,192 67.2% 0.7% 32.1% 20 2014 Annual General Meeting
Slide 22: Thank you
For personal use only 21 Thank you
Slide 23: Important disclaimer
Important disclaimer For personal use only This presentation should be read in conjunction with all information which QBE has lodged with the Australian Securities Exchange (“ASX”). Copies of those lodgements are available from either the ASX website www.asx. com.au or QBE’s website www.qbe.com. Pri
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