QBE marks 50-year history on the ASX

Insurer was the largest ASX listing of the year when it joined in 1973

QBE marks 50-year history on the ASX

Insurance News

By Roxanne Libatique

QBE has been celebrating 50 years since it listed on the Australian Stock Exchange (ASX) in 1973.

Looking back at 50 years of history with the ASX, QBE said the significant milestone represents decades of growth, innovation, and a commitment to its shareholders, customers, and the industry.

“Reaching the 50-year milestone on the ASX is a testament to the collective efforts of our dedicated team, valued partners, shareholders, and loyal customers,” said QBE Group board chairman Mike Wilkins, as shared in a press release. “This a celebration of [not only] QBE's global progress and achievements, but also the contributions we have made to the Australian economy since listing. We are immensely proud, and we extend our gratitude to all those who have been part of this journey.”

QBE highlights achievements over 50 years on the ASX

QBE highlighted its following key achievements since listing on the ASX:

  • In 1973, QBE was the largest listing on the ASX, with a market capitalisation of $41.5 million;
  • QBE Australia has expanded through acquisitions, including Australian Eagle Insurance, Trade Indemnity Australia, and underwriting agencies;
  • QBE entered the lenders mortgage insurance market by acquiring PMI Australia, now known as QBE Lenders Mortgage Insurance (QBE LMI); and
  • In 2009, QBE bought 100% of Elders Insurance Limited and 75% of Elders Insurance Agency, taking full ownership of the agency business in 2014.

What next for QBE?

Wilkins said QBE aims to “enable a more resilient future” for the next 50 years.

“We are well positioned globally with the right combination of focus, people, geographies, and opportunity to deliver that future,” he said.

Got a memory to share from QBE’s 50 years on the ASX? Leave a comment below

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