Insurers outshine banks
Insurance companies in Australia are outperforming big banks in creating wealth for shareholders, reversing a trend in other mature markets.
A study by financial services consultant Mercer Oliver Wyman has found QBE and Promina are among companies that created more shareholder value on a risk-adjusted basis than retail and investment banks.
QBE was the fourth most-improved performer of 170 global companies in the past year. Promina finished second for best performer of 230 mid-sized global companies.
Australian Director David Moloney says insurers are role models on how to break out of a “straitjacket” domestic market through a focus on value, industry restructuring and overseas expansion.
A study by financial services consultant Mercer Oliver Wyman has found QBE and Promina are among companies that created more shareholder value on a risk-adjusted basis than retail and investment banks.
QBE was the fourth most-improved performer of 170 global companies in the past year. Promina finished second for best performer of 230 mid-sized global companies.
Australian Director David Moloney says insurers are role models on how to break out of a “straitjacket” domestic market through a focus on value, industry restructuring and overseas expansion.