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QBE Insurance Group Limited ( (AU:QBE) ) has issued an update.
QBE Insurance Group Limited reported a significant increase in their FY24 financial results, with a statutory net profit after tax of $1,779 million, up from $1,355 million in FY23. The company achieved a 3% growth in gross written premiums and improved its combined operating ratio to 93.1%, supported by favorable catastrophe experience and strong investment performance. The company’s capital position strengthened, maintaining a PCA multiple of 1.86x, and a final dividend of 63 Australian cents per share was declared, marking a full year payout ratio of 50% of adjusted net profit. These results reflect QBE’s strategic initiatives to enhance performance stability and resilience.
More about QBE Insurance Group Limited
QBE Insurance Group Limited operates in the insurance industry, providing a range of insurance products including property and casualty, specialty, and reinsurance. The company focuses on delivering insurance solutions across various markets globally.
YTD Price Performance: -2.64%
Average Trading Volume: 11,553
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $19.24B
For an in-depth examination of QBE stock, go to TipRanks’ Stock Analysis page.
