300000000 QBE Capital Funding LP - Irish Stock Exchange

The following table sets forth information about the gross earned premium for each of our insurance
divisions and our insurance product lines for the periods indicated.
Year ended December 31,
2005 2004
A$ % A$ %
(in millions except percentages, A-IFRS)
Division(1)
Australian general insurance operations ......................... 2,405 26.2 2,114 24.7
Pacific Asia Central Europe (PACE) ........................... 688 7.5 684 8.0
Australia Pacific Asia Central Europe (APACE) ...................... 3,093 33.7 2,798 32.7
QBE Insurance (Europe) .................................... 2,370 25.8 2,154 25.1
Lloyd’s division ........................................... 2,273 24.8 2,265 26.4
European operations ............................................ 4,643 50.6 4,419 51.5
the Americas .................................................. 1,435 15.7 1,354 15.8
Total .................................................... 9,171 100.0 8,571 100.0
Product lines
Property(2) ................................................... 2,632 28.7 2,563 29.9
Liability(3) ................................................... 2,008 21.9 1,868 21.8
Motor and motor casualty(4) ..................................... 1,256 13.7 1,054 12.3
Professional indemnity .......................................... 835 9.1 814 9.5
Workers’ compensation(5) ....................................... 816 8.9 823 9.6
Marine and aviation ............................................ 578 6.3 566 6.6
Accident and health ............................................ 569 6.2 523 6.1
Financial and credit ............................................ 229 2.5 206 2.4
Other(6) ..................................................... 248 2.7 154 1.8
Total .................................................... 9,171 100.0 8,571 100.0
General insurance .............................................. 7,076 77.2 6,583 76.8
Inward reinsurance(7) ........................................... 2,095 22.8 1,988 23.2
Total .................................................... 9,171 100.0 8,571 100.0
(1) We have not presented information on Equator Re separately because its gross earned premium is
eliminated upon consolidation of our overall group results. See Note 38 to our A-IFRS financial statements.
(2) Includes property excess of loss, engineering, war and energy.
(3) Includes medical malpractice and general, public and product liability.
(4) Includes CTP.
(5) Includes employers’ liability.
(6) Includes agriculture, catastrophe, bloodstock, travel, satellite, transport, householders’, commercial
packages and other miscellaneous classes of insurance.
(7) Includes facultative reinsurance.
Our insurance products are classified as either short-tail or long-tail, principally based upon the average
amount of time that elapses between when we receive premiums and when we pay claims. The average amount
of time that elapses between the time premiums are received and claims are paid for our short-tail lines is
generally one year or less and for our long-tail lines is generally more than one year. Our principal short-tail lines
of business include commercial and domestic property such as motor vehicle physical damage. Our principal
long-tail lines of business include liability (casualty), professional indemnity, workers’ compensation and CTP.
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