QBE shares hit by profit warning

Shares in QBE plunged over 10 percent today after the Australian
carrier said high claims activity in its emerging markets business
would inflate combined ratios.
In a stock exchange announcement the carrier attributed the
claims tally to "a combination of increased frequency of
medium sized risk claims in Asia, weather related claims in Latin
America and adverse experience in legacy portfolios in Latin
America".
QBE said this would inflate the group's first-half and
full-year combined operating