QBE European Operations plc
QBE European Operations plc
QBE European Operations plc
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<strong>QBE</strong> <strong>European</strong> <strong>Operations</strong> <strong>plc</strong> Annual report 2011<br />
70<br />
Notes to the financial statements<br />
continued<br />
For the year ended 31 December 2011<br />
14 Investments continued<br />
e) Valuation hierarchy<br />
The following table presents the Group’s assets measured at fair value at 31 December 2011 in a three level hierarchy.<br />
2011<br />
Level 1 Level 2 Level 3 Total<br />
Group £000 £000 £000 £000<br />
Equity shares 24,963 – 14,670 39,633<br />
Other variable yield securities 56,099 326,787 – 382,886<br />
Debt securities and other fixed income securities 318,933 5,434,583 – 5,753,516<br />
Derivatives 248 35,826 – 36,074<br />
400,243 5,797,196 14,670 6,212,109<br />
2010<br />
Level 1 Level 2 Level 3 Total<br />
Group £000 £000 £000 £000<br />
Equity shares 50,868 – 15,528 66,396<br />
Other variable yield securities 147,509 278,516 – 426,025<br />
Debt securities and other fixed income securities 312,895 5,048,736 – 5,361,631<br />
Derivatives – 38,169 – 38,169<br />
511,272 5,365,421 15,528 5,892,221<br />
2011<br />
Level 1 Level 2 Level 3 Total<br />
Company £000 £000 £000 £000<br />
Other variable yield securities 3,177 – – 3,177<br />
Debt securities and other fixed income securities – 138,559 – 138,559<br />
Derivatives – 16,100 – 16,100<br />
3,177 154,659 – 157,836<br />
2010<br />
Level 1 Level 2 Level 3 Total<br />
Company £000 £000 £000 £000<br />
Other variable yield securities 18,137 – – 18,137<br />
Derivatives – 16,682 – 16,682<br />
18,137 16,682 – 34,819
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