News: QBE QBE Insurance Reports HY Net Profit Attributable Of $441 Mln

Aug 12 (Reuters) - QBE Insurance Group Ltd (QBE) :

• HY NET PROFIT ATTRIBUTABLE $441 MILLION VERSUS LOSS OF $712 MILLION LAST YEAR
• HY REVENUE FROM ORDINARY ACTIVITIES $9,126 MILLION VERSUS $7,985 MILLION LAST YEAR
• DECLARES INTERIM DIVIDEND OF 11 AU CENTS/SHARE
• HY COMBINED OPERATING RATIO WAS 90.2%
• FY ESTIMATED ULTIMATE NET COST OF COVID-19 MAY PROVE TO BE LESS THAN $785 MILLION PRE-TAX
• CONFIDENT THAT $655 MILLION COST RECOGNISED IN 2020 REMAINS SUFFICIENT
• "ELEVATED LEVEL OF CATASTROPHE ACTIVITY IS CONCERNING AND WE CONTINUE TO VIEW ALL CATASTROPHE EXPOSURE WITH CAUTION"
• $130 MILLION COVID-19 RELATED CLAIMS EXPECTED TO BE INCURRED IN 2021 MAY PROVE EXCESSIVE