QBE Insurance Group Limited (AU:QBE)
ASX:QBE
Earnings Data
Report Date
Aug 12, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.95Last Year’s EPS
0.96Same Quarter Last Year
Strong Buy
Based on 7 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a strongly positive operational and financial performance: robust profitability (USD 2.1bn profit, ~20% ROE), above-guidance top-line growth, improved combined ratio, record investment returns, stronger capital metrics and active capital management (dividend increase, buyback, ratings upgrades). Headwinds were concentrated in U.S. specialty (A&H, Aviation), crop-related net revenue impacts from increased cessions, some rate softening in pockets (Lloyd's, reinsurance), and elevated large-claim risk historically. Management provided medium-term guidance of mid-single-digit GWP growth and 15%+ ROE and outlined measures (pricing, portfolio remediation, alternative capital, expense efficiency and AI deployment) to sustain performance. Overall, the highlights materially outweigh the lowlights.Company Guidance
Strong Profitability and ROE
Post-tax profit of USD 2.1 billion and EPS up ~25% for the year; Return on Equity increased to ~19.8% (around 20%), marking QBE's fourth consecutive double-digit ROE and outperformance versus guidance.
Topline Growth
Headline Gross Written Premium grew 7% to ~USD 24 billion (around 8% if excluding crop and exit), ahead of mid-single-digit guidance and reflecting momentum across Northern Hemisphere segments.
Underwriting Performance (Combined Ratio)
Combined operating ratio improved to 91.9%, beating reiterated guidance of 92.5%; management notes improved portfolio mix, prudent reserving and below-allowance catastrophe experience as drivers.
Investment Performance
Investment income delivered a record result of roughly USD 1.6–1.63 billion with a portfolio return of ~4.9%; risk assets returned almost 10% and fixed income yields exited the year near 3.7%.
Capital Strength and Shareholder Returns
Regulatory capital (PCA) multiple of 1.87x at year-end (pro forma ~1.73x after the announced buyback); final dividend AUD 0.78 (full year AUD 1.09, +25%), payout ratio 50%; initiated buyback activity (~USD 90 million executed) and total shareholder distributions equal to ~65% of this year's profits.
Ratings Upgrade and Balance Sheet Actions
Received credit rating upgrades to AA- from S&P and Fitch; executed liability management (retired Tier 1, issued Tier 2) to reduce cost of capital; funds under management grew ~17% (about one-third FX-driven).
Improved Reserving and Portfolio Resilience
Modest central estimate reserve release of ~USD 40 million; management reports reserve strength at the strongest position in years and improved predictability in reserving outcomes.
Reinsurance and Alternative Capital Progress
Reduced CAP program attachment point to USD 250 million (down ~40% in 2 years); cat budget reduced to ~USD 1.13 billion; launched/group-expanded alternative capital including an ~USD 800 million-attaching cat bond and a casualty sidecar (~USD 450 million), enhancing capital efficiency.
Operational Efficiency Trends
Expense growth moderated to ~5% (from near 10% in prior periods), expense ratio 12.4% while absorbing elevated one-off investment envelope of ~USD 300 million; headcount reduced ~1% while delivering 7% GWP growth, and expense ratio guidance ~12% for 2026.
AU:QBE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
AU:QBE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 19, 2026 | AU$19.33 | AU$20.70 | +7.08% |
Aug 07, 2025 | AU$22.28 | AU$20.32 | -8.78% |
Feb 20, 2025 | AU$18.51 | AU$19.07 | +3.04% |
Aug 08, 2024 | AU$14.83 | AU$14.58 | -1.72% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does QBE Insurance Group Limited (AU:QBE) report earnings?
QBE Insurance Group Limited (AU:QBE) is schdueled to report earning on Aug 12, 2026, After Close (Confirmed).
What is QBE Insurance Group Limited (AU:QBE) earnings time?
QBE Insurance Group Limited (AU:QBE) earnings time is at Aug 12, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
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What is the P/E ratio of QBE Insurance Group Limited stock?
The P/E ratio of QBE Insurance Group Limited is N/A.
What is AU:QBE EPS forecast?
AU:QBE EPS forecast for the fiscal quarter 2026 (Q2) is 0.95.