Jan 18 (Reuters) - QBE Insurance Group Ltd (QBE) :
- FY20 COVID-19 RELATED COSTS NOW EXPECTED TO BE $655M
- UK SUPREME COURT HANDED DOWN DECISION ON APPEAL AGAINST HIGH COURT'S SEPT 2020 RULING IN UK FINANCIAL CONDUCT AUTHORITY TEST CASE
- FY20 STATUTORY LOSS AND PCA MULTIPLE NOT EXPECTED TO DIFFER MATERIALLY FROM ANNOUNCEMENT OF DEC 18
- FY20 RESULT WILL INCLUDE ADDITIONAL $185M RISK MARGIN STRENGTHENING WITH RESPECT TO POTENTIAL AUSTRALIAN BUSINESS INTERRUPTION CLAIMS
- FOLLOWING RISK MARGIN STRENGTHENING, GROUP'S TOTAL ULTIMATE COVID-19 ALLOWANCE IS NOW $785M
- PROBABILITY OF ADEQUACY OF NET OUTSTANDING CLAIMS NOW EXPECTED TO BE AT OR CLOSE TO TOP END OF 87.5% ˗ 92.5% RANGE FOR FY
- NET COST OF UK INSURANCE BUSINESS INTERRUPTION CLAIMS REMAINS UNCHANGED AT $70 MILLION
- UK SUPREME COURT UPHELD HIGH COURT'S RULING IN FAVOUR OF INSUREDS WITH RESPECT TO ONE OF QBE'S NOTIFIABLE DISEASE POLICY WORDINGS
- UK SUPREME COURT REVERSED RULING IN FAVOUR OF QBE WITH RESPECT TO OTHER TWO OF QBE'S THREE NOTIFIABLE DISEASE POLICY WORDINGS EXAMINED
(([email protected];))
News: QBE QBE Insurance Says FY20 COVID-19 Related Costs Now Expected To Be $655 Mln
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