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[sharechat] QBE Insurance Group

From: "G Stolwyk" <>
Date: Wed, 31 Oct 2001 11:32:59 +1300

My last comment was immediately after the WTC attack.
QBE is one of the stocks in the " Working at the coal face series".
( At a personal level, I originally gave it a weighting of 3 against 3 for CLH and 4 for LACO ).
The shares dived from $10 to below $4; nobody expected this to happen!
However, as was the case with CLI, friends and I bought back in @ $5.40.
We are fortunate as there is a 1:5 cash issue @ $5.50 going at the moment. There is also the right of further subscription at the same price. 
The impact of the measures taken, has substantially reduced losses and the current $6.90 share price is well above the $5.50 cash issue price.
Future intentions: No further action needed.
I remain confident that QBE's reorganisation and reweighting of risk management will produce results.

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