Speaking during the annual meeting of QBE Insurance Group Ltd, Frank O'Halloran, CEO of the company said that it would be able to meet all the forecasts of the full year insurance guidance. But it can do so only after the first three months of this year.

He also said during the meeting which took place in Sydney that the insurance firm is also all set to go for acquisitions. Besides this, the company is in a position to maintain its dividends.

Talking to the shareholders in Sydney, the outgoing Chiarman of the group, John Cloney said that 2009-2010 was a "difficult year" and that the strong Australian dollar had its impact on the revenues and profits.

However, the profitability measures are in line with the plans and the effect of this can be seen soon.

While John said that the firm was on target to touch the profit margins of 16-18 per cent during this year; CEO Frank said that the books showed strong fundamentals.

He also informed that the company was negotiating with a number of companies that dealt with distribution.