QBE Climbs Out of the Hole in 2014, Posts Net Profit of $742M

QBE Insurance Group posted a net profit of $742 million in 2014 after reporting a loss of $254 million. The company's net earned premium fell 9% from $15.4 billion in 2013 to $14.1 billion last year, according to an investor relations presentation the company gave Tuesday. However, it grew its underwriting profit 60% from $341 million to $547 million. QBE sold off many assets last year, including its entire book of workers' compensation business in Argentina. According to the presentation, the company sold the business for about 1.7 times its value. The carrier also sold agencies in...