QBE Insurance Doubles Profit, Raises Dividend

QBE Insurance Group Limited (AU:QBE) has released an update.

QBE Insurance Group reports a robust financial performance for the first half of 2024, with statutory net profit after tax doubling to $802 million from the previous year and gross written premiums up by 2%. The company declares a higher interim dividend of 24 Australian cents per share, up from 14 cents in 2023, reflecting a stable adjusted return on equity of 16.9%. They have also undertaken reserve transactions to de-risk their portfolio, further strengthening their financial position.

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