QBE Insurance Group Annual Report 2014

Financial Report contents

Financial statements
Consolidated statement of comprehensive income
Consolidated balance sheet
Consolidated statement of changes in equity
Consolidated statement of cash flows

Notes to the financial statements
1.     Summary of significant accounting policies
2.     New accounting standards and amendments issued but not yet effective
3.     Segment information
4.    Critical accounting estimates and judgements
5.     Risk management
6.     Income and expenses
7.     Claims expense
8.     Income tax
9.     Cash and cash equivalents
10.   Investments
11.   Trade and other receivables
12.   Deferred insurance costs
13.   Assets held for sale
14.   Property, plant and equipment
15.   Deferred income tax
16.   Intangible assets
17.   Trade and other payables
18.   Unearned premium
19.   Outstanding claims
20.   Provisions
21.   Defined benefit plans
22.   Borrowings
23.   Equity
24.   Dividends
25.   Earnings per share
26.   Share-based payments
27.   Key management personnel
28.   Contingent liabilities
29.   Operating lease commitments
30.   Remuneration of auditors
31.   Related parties
32.   Ultimate parent entity financial information

Directors’ declaration


This Financial Report includes the consolidated financial statements for QBE Insurance Group Limited (the ultimate parent entity or the company) and its controlled entities (QBE or the Group). All amounts in this Financial Report are presented in US dollars unless otherwise stated. QBE Insurance Group Limited is a company limited by its shares, incorporated and domiciled in Australia. Its registered office is located at:

Level 27, 8 Chifley Square
Sydney NSW 2000

A description of the nature of the Group’s operations and its principal activities is included on pages 6 to 27 and 30 to 51, none of which is part of this Financial Report. The Financial Report was authorised for issue by the directors on 24 February 2015. The directors have the power to amend and reissue the financial statements.

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