NU Online News Service, Aug. 19, 11:10 a.m. EST
QBE Insurance Group says first-half profit increased 53 percent to $673 million, driven by gains from acquisitions.
However, the Australia-based insurance and reinsurance company cut its profit margin for the six months to 11.2 percent from 15.8 percent as catastrophe losses totaled nearly $1.1 billion.
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