QBE’s Americas division, the U.S. parent company of General Casualty in Sun Prairie, reported net income of $236 million in 2008 on gross premium revenue of $3.7 billion, which is up 22 percent from 2007.
QBE spokeswoman Anne M. Smith on Monday credited the company’s "very good year" primarily to growth by acquisitions and disciplined premium pricing to ensure adequate amounts were collected.
General Casualty itself, a big part of QBE’s Regional Insurance business unit within the Americas Division since 2007, also posted positive numbers.
QBE Regional, based locally in Sun Prairie, reported net income of $159.5 million on gross premium revenues of $1.17 billion. General Casualty, which writes policies in Wisconsin and 24 other states, makes up nearly 80 percent of QBE Regional’s total business.
Overall, QBE’s Americas division has 42 offices and 3,200 employees — including 2,800 U.S. workers — in 20 states and five Latin American countries. In Sun Prairie, there are 824 full-time and 18 part-time employees, Smith said.
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