Can you explain this paragraph in simple way?

QBE was listed on the Australian Stock Exchange in 1973 from the merger of three companies whose names represent the letters of the combined company, Queensland Insurance, Bankers' and Traders' Insurance Company, and Equitable Life and General Insurance Co., and its founding chairman was J. D. O. Burns.


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What Guys Said 3

  • Q: Queensland Insurance
    B: Bankers' and Traders' Insurance Company
    E: Equitable Life and General Insurance Co.

    The company, QBE, was formed by merging those 3 companies listed above.

    QBE is a publicly traded company (meaning you can own stock in it and get some of its profits).

    In 1973, QBE became listed on the Australian Stock Exchange. (You can buy or sell stocks in QBE through this stock exchange.)

    The founding (that is, the first) Chairman (company leader) was a man whose name was/is J. D. O. Burns.

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  • It's already simple. The acronym is formed from the names of the three merged companies.

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  • abc3643 is correct. I just want to add QBE is the ticker symbol on the exchange.
    All companies have a "ticker symbol" it can be as simple a "T" for at&t or "IBM" for IBM (international business machines)

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