FINANCE

Corporate governance analysis

Summary

The notion of corporate governance refers to the procedure through which corporations of the globe are administered and controlled in such a manner that it provides every organization another opportunity of taking a step closer towards the accomplishment of their long-term mission and vision. Moving forwards, the management framework designed on the bases of this procedure allocates clear responsibility and rights to every member of that corodium and indicates simple but realistic rules and regulation for taking important decision for the betterment of corporate affairs.

Moving forward, the first section of this report provides and in-depth understanding of corporate governance of two well-reputed insurance companies of Australia namely IAG and QBE. This section would further explain the ASX principles incorporated by both of these companies in their corporate governance and finally will compare the CG policies of two companies. The next section would provide detail illustration of company's corporate socia responsibility, along with instrument to measure the benchmark of CSR and finally section would surprise the report in form of conclusion.

Corporate governance analysis

Section 1) Profiles of the companies

QBE insurance group limited

QBE Insurance Group Limited is one of the largest and reputed insurance providers of Australia, which is known for providing quality insurance services primarily to the areas of Asian region. In addition to this, the company is known from providing quality insurance services in western region particularly in countries like Europe and Canada (QBE, 2012, pp. 5-25). The company was listed in ASE (Australian stock exchange) in year 1973 after acquiring three companies of similar industry.

Since its incorporation company has able to expand its operation in more than fifty-two countries of the globe with a total market worth of around A$18.6 billion with extraordinary annual profit of around A$ 2000 billion in year 2011. In addition, of providing insurance services the company is known for playing a major part in promoting and expanding the sports culture across the country by sponsoring various sports events like cricket, baseball, rugby, football and others.

Insurance Australian group

Insurance Australia Group Limited (IAG) is also a reputed and well-known multinational insurance service provider (IAG, 2013, pp. 5-25). The company was inaugurated in year 2000 after the merger with NRMA insurance company, and in year 2002 NRMA insurance company transformed itself into IAG. In addition to this, the IAG group is also known as an umbrella organization, which comprises of several reputed insurance brands.

Since its incorporation company has not only expanded its operations across the country but also has able to expand its market in countries like New Zealand and Asia. For instance, in Australia company business comprises of (NRMA, SGIO, SGIC, and others), in New Zealand it operates from (state insurance, Ami insurance, and others),

Corporate governance disclosure

QBE insurance group limited

QBE gives significance weight on its corporate governance principles and strives hard to become excellent citizen of the country. Since its formal incorporation in year 2002 the company is working in accordance with its unique vision and values that endows significant importance to ...