QBE Australia
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OVERALL |
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Owned |
AUS |
Rating |
N/A |
Insurance
Company Ownership
QBE Insurance (Australia) Ltd | AUS | website | ||||
QBE Insurance Group Ltd
owns 100% of QBE Insurance (Australia) Ltd |
AUS | website | ||||
Insurance One of the world's top 20 insurance companies, with operations in 37 countries. |
Company Assessment
PRAISE | CRITICISM | INFORMATION | ||
QBE Insurance (Australia) Ltd | ||||
In 2017 this company was ordered by ASIC to refund customers a total of $15.9 million over worthless add-on insurance sold to car owners.
Source: ABC (2017) |
California, the UK and Australia have all enacted legislation requiring companies operating within their borders to disclose their efforts to eradicate modern slavery from their operations and supply chains. Follow the link to see this company's disclosure statement.
Source: company website (2016) |
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QBE Insurance Group Ltd | ||||
In 2023, the Carbon Disclosure Project (CDP) asked companies to provide data about their efforts to reduce greenhouse gas emissions and mitigate climate change risk. Responding companies are scored across four key areas: disclosure; awareness; management; and leadership. This company received a CDP Climate Change score of A-.
Source: CDP (2023)
The Insure Our Future campaign by a group of NGOs has ranked the world's leading insurance companies on fossil fuel insurance, fossil fuel divestment, and other climate leadership. QBE scored thumbs up for fossil fuel insurance, middle rating for fossil fuel divestment and thumbs up for other climate leadership.
Source: Insure Our Future (2020)
This company received an S&P Global ESG Score of 76/100 in the Insurance category of the S&P Global Corporate Sustainability Assessment, an annual evaluation of companies' sustainability practices (last updated 23 Sep 2022). The rankings are based on an analysis of corporate economic, environmental and social performance, assessing issues such as corporate governance, risk management, environmental reporting, climate strategy, human rights and labour practices.
Source: S&P Global (2022) |
Modern slavery disclosure is a critical step in mitigating the risk associated with modern slavery practices in companies' operations and supply chains. The quality of the disclosure signals the level of commitments and efforts that the companies have put in managing these risks. In 2021 the Monash Centre for Financial Studies analysed and ranked the disclosure quality of the modern slavery statements submitted by the 300 largest listed companies on the Australian Stock Exchange (ASX300). This company's modern slavery disclosure statement received a grade of E.
Source: Monash University (2021) |
According to the democracyforsale.net website, this company donated $220,144 to Australia's major political parties between 2012 and 2018, as disclosed to the Australian Electoral Commision (AEC).
Source: Democracy For Sale (2018)
As listed on the We Mean Business website, this company has committed to the following climate action initiatives: commit to 100% renewable power.
Source: We Mean Business (2021)
This company appears on the 2021 Bloomberg Gender-Equality Index, signifying a commitment to supporting gender equality through policy development, representation, and transparency.
Source: Bloomberg (2021)
Launched in 2011, the QBE Foundation supports charities that help people overcome disadvantage, strengthen their abilities, and live more independently, successfully and productively.
Source: company website (2018)
This company is a signatory to the Principles for Sustainable Insurance (PSI), a global framework for the insurance industry to address environmental, social and governance risks and opportunities. PSI is an initiative of the United Nations.
Source: UNEPFI (2018)
Between 2015 and 2018 this company paid $556 million tax on a total income of $20.5 billion, earning the number 26 spot on Michael West's Top 40 Tax Payers 2020. West calculated which of Australia's largest companies have paid the most tax using three years of tax transparency data published by the Australian Tax Office.
Source: Michael West (2018)
UNPRI is a set of six principles direct institutional investors may adopt to consider environmental, social and corporate governance issues when investing. UNPRI is a voluntary agreement.
Source: UNPRI (2020) |
Company Details
Type | Wholly-owned subsidiary |
Contact Details
Address | Sydney, Australia |
Phone | 133 723 |
Website | www.qbe.com.au |