Holders able to unpick the net-net consequences of this announcement are better analysts than me. Mr Market will likely mark down QBE just because.
Premium increases at 10% continue the positive trend of recent years, though less beneficial after inflation.
The 'exit running yield' of 4.9% on QBE's bond ladder is a strong positive, albeit a future state rather than historical. It also looks like QBE has some capital losses on the repricing of longer dated bonds - they went short-term when rates were zero, in hindsight, ought to have gone even shorter.
Claims - who knows!
August 10 is just around the corner.
Ash
QBE Price at posting:
$15.24 Sentiment: Buy Disclosure: Held
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