Reported Offshore Headcount
2,383+
reported 30 Jun 2025, QBE Insurance Group Modern Slavery Statement 2024
Estimated % of Workforce
~18%
illustrative, not directly reported by the company
Destination Countries
Modern slavery statement: Group Shared Services Centre (GSSC) based in the Philippines with 2,383 employees. Supports global operations from Sydney HQ.
Financial Context
Market Cap
$24.0B
Revenue
$29.5B
Net Profit
$1.2B
Estimated Wage Differential
~$203M/yr
CEO: Andrew Horton
$5,300,000
68x avg Australian worker
Illustrative wage differential: if the 2,383+ reported offshore roles were instead employed in Australia at average local rates, the additional cost could be in the order of ~$203M/yr (~16.9% of reported net profit). This is an estimate based on industry averages, not company-specific data.
Would this company be profitable without offshoring?
Every dollar paid offshore leaves the Australian economy, reducing local wages, tax receipts, and economic circulation. Why it matters
Financial data: FY2024. Estimate uses avg AU employment cost of $110,000+/yr (incl. super and on-costs) vs offshore $25,000/yr (salary + on-costs). Actual figures vary by role, seniority, and location.
In Plain English
- In 2025, QBE was reported to have 2,383+ offshore contractors and staff.
- This represents ~18% when compared to its current workforce of 13,275 (illustrative comparison only, not directly reported by the company).
- 🇵🇭 2,383+ staff reported in Philippines in Back Office.
Based on data from public sources at the dates reported. Figures may not reflect current headcount. See sources below for full attribution.
The Story
- 2025QBE GSSC has over 3,200 employees across Manila (Taguig, Alabang, Pasay, Quezon City) and Cebu. Handles finance, procurement, IT, and insurance operations. [QBE Careers]
- 2015Philippines operations reached 2,100 staff. QBE spokesman David Symons said the centre was "delivering exactly what we expected, and more." [Insurance News]
- 2014QBE began hiring 1,000 staff for its Cebu location. ANZ CEO at QBE Colin Fagen said: "We are moving the components of roles, not full roles. Core underwriting and processes remain in Australia." [Insurance News]
- Mid-2013521 Australian staff were affected: 39 made redundant, 190 redeployed, 15 accepted voluntary redundancy, 52 contractor positions not renewed, 50 relocated to Philippines. [Insurance Business]
- March 2013Reports claimed 150 Sydney staff would lose jobs within 6 months. QBE denied this, saying they were "focused on minimising the impact on jobs in Australia." [Insurance Business]
- February 2013QBE incorporated its Group Shared Services Centre (GSSC) in the Philippines as part of a major transformation. Target: move 3,000 positions to the Philippines, including 700 from Australia. Target savings: $250 million per year. [Insurance Business]
All facts sourced from public reporting. No editorial commentary. Click source links to verify.
Department Breakdown
| Department | Country | Headcount | Confidence |
|---|---|---|---|
| Back Office | 🇵🇭 Philippines | 2,383 | Estimated |
Offshoring Timeline
| Date | Department | Country | Headcount | Confidence |
|---|---|---|---|---|
| 1 Jan 2024 | Back Office | 🇵🇭 Philippines | — | Estimated |
| 30 Jun 2025 | Back Office | 🇵🇭 Philippines | 2,383 | Estimated |
Other Insurance Companies That Offshore
Other companies in insurance with reported offshore operations.
| Company | ASX | Reported Offshore | Offshore Destinations |
|---|---|---|---|
| Suncorp | SUN | 4,500+ | 🇮🇳 India🇵🇭 Philippines |
| Insurance Australia Group | IAG | 200+ | 🇵🇭 Philippines🇻🇳 Vietnam🇮🇳 India |
| Allianz Australia | 186+ | 🇮🇳 India | |
| Bupa Australia | 146+ | 🇵🇭 Philippines | |
| Medibank Private | MPL | 56+ | 🇮🇳 India🇵🇭 Philippines |
What Public Sources Say
All information below is sourced from publicly available documents and reporting. Excerpts are direct quotes. Click source links to verify.
“QBE's Group Shared Services Centre in the Philippines reached 2,100 staff. Spokesman David Symons said the centre was "delivering exactly what we expected, and more." The GSSC was incorporated in 2013 with a target of moving 3,000 positions to the Philippines, including 700 from Australia, for savings of $250 million a year.”
Additional Sources
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This list is not complete, and never will be
If a company isn't listed here, that doesn't mean it doesn't offshore. And every number is the lowest we can prove, so the real figures can often be higher.
Read whyShow less
This list is not complete, and never will be
If a company isn't listed here, that doesn't mean it doesn't offshore. And every number is the lowest we can prove, so the real figures can often be higher.
This started as an ASX 200 project and mostly still is. It has widened as stories landed from outside that list, so it now also covers employers that aren't ASX-listed, like Canva, Allianz Australia, SS&C and Crown Resorts, along with government departments and agencies. Companies get added when something surfaces about them, not by working through a list in order.
Australian companies are under no obligation to disclose where their work is done, and there is no register of offshored jobs. Everything here comes from something that surfaced publicly: an annual report, a modern slavery statement, a news article, a union statement, a government contract, or a tip from someone who was there.
So an absence usually means nobody has reported on that company and we haven't got to it yet, not that it keeps its work onshore. Some of the biggest offshorers say nothing at all. And because each figure counts only what a source actually stated, the real numbers can often run higher, sometimes much higher.
Every figure links to the source it came from, so you can judge it yourself rather than take our word for it. If you know something that is missing or wrong, tell us. Corrections are published, not quietly buried.
This profile reflects public information at the time of publication and may not match current operations. Is something wrong or missing about QBE? Submit a correction. We welcome input from companies, employees, and researchers.