The Rajan Raheja Group, one of India's most dynamic and diversified business group brings QBE (one of the world's most respected Insurance companies) to India, as Raheja QBE General Insurance Pvt Ltd. Raheja QBE marries the Rajan Raheja Group’s success and experience across various business sectors in India with QBE’s global expertise in insurance to clients here. Raheja QBE General Insurance Company Limited, a joint venture general insurance company promoted by Prism Cement Limited, India and QBE Holdings (AAP) Pty Limited, a wholly owned subsidiary of QBE Insurance Group Limited, Australia, has been registered as a General Insurer under Section 3 of the Insurance Act, 1938, with the Insurance Regulatory and Development Authority (IRDA). The Certificate of Registration (Forms IRDA/R3) has been issued by IRDA on 12.12.08.
As an organization Raheja QBE General Insurance Pvt Ltd. is uniquely poised to help their clients through daunting and tough times. This organization stands apart from rest of the General (Non-Life Insurance) companies in India on account of its conservative approach to balance sheet management. The Group believes and practices one simple philosophy – make business decisions that reduce the volatility of the organization’s results and thereby offer their customers superior stability.
As RQBE, the organization can draw on QBE’s years of global success in risk management, their track record of business stability as well as the skill and expertise of QBE’s global resource pool. Add to this, an A+ rating by Standard and Poor’s Insurance Financial Strength rating for QBE Insurance internationally and therefore the customer can now get a sense on why RQBE are really ‘Good people to be with’.
QBE Insurance Group Limited is one of the top 25 insurers and re-insurers worldwide, with operations in all key global insurance markets. QBE is an Australian listed company with a Group Head office with its headquarters in Sydney, and has operations in 47 countries with over 13,000 staff worldwide.
The organization’s underlying business strategy is to maintain operations in key global insurance markets and where possible, to be lead underwriter for selected lines of business, setting rates and conditions in the markets in which the organization operates.
QBE Group's strategy of diversification, by product and geographical exposure, is the fundamental principle to manage the organization’s insurance and re-insurance risks which have been a vital ingredient in the Group’s success. They have developed and embedded a unique QBE culture throughout the organization based on key essential behaviors and applying effective risk management practices and controls in their business models.
The organization aims to develop the business through their existing extensive networks and acquisitions of insurance businesses, portfolios and teams of underwriters that meet their stringent criteria for minimum return on equity and EPS accretion in the first year of acquisition. QBE Group has successfully delivered more than 125 acquisitions since their first acquisition in 1982, and has grown substantially, particularly over the last 10 years. QBE's gross written premium was $14.5 billion in 2009.