QBE takes a hit to spread the pain of CV-19. It says it already provisioned for this as part of the foreshadowed $1.5 billion loss. It is, nonetheless, a loss.
New policies will have tighter wording, pandemic cover will be explicitly included or excluded. Insured parties will want cover for a 1 in a 100 year event and will pay for it. Should be a good little earner in the future.
Commenters are muttering about the risk of a cap raise on the other thread. That would really tank the share price. I noted there QBE's modestly increased risk appetite, taken in full expectation of this UK legal decision and with consent of regulators. I read that as QBE having enough capital post-loss to meet its obligations. A reasonable insurance year will restore its fortunes in full - dividends and the share price will follow.
Ash
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Last
$16.31 |
Change
0.160(0.99%) |
Mkt cap ! $24.50B |
Open | High | Low | Value | Volume |
$16.14 | $16.45 | $16.01 | $75.46M | 4.621M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 7022 | $16.31 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$16.33 | 4688 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 175 | 16.260 |
1 | 2000 | 16.200 |
1 | 1500 | 16.150 |
1 | 1553 | 16.080 |
1 | 3750 | 16.050 |
Price($) | Vol. | No. |
---|---|---|
16.450 | 1600 | 1 |
16.500 | 9499 | 3 |
16.550 | 120 | 1 |
16.660 | 620 | 1 |
16.680 | 5000 | 1 |
Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
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