Ann: Business Interruption Update, page-43

Y'all are arguing across different purposes, sometimes getting personal - don't!

QBE has been falling for 13 years and holders have endured much pain.

It raised ~$1.2b in equity @ $8.25 in April 2020.

It lost $715m in 1H and has foreshadowed a full year loss of $1.5n.

Ouch!

Further, in an era of near-nil interest rates, QBE will make nothing on invested premiums and its equity base, almost entirely held in cash and bonds.

Ouch! Ouch! The outlook is bleak.

So I bought. My av $7.37.

Why? Because in this environment all insurers have to raise premiums charged or die. I expected QBE to lift premiums 6%. It stared down its customers and managed 9%. It will have to raise them again next year, I predict another 6%. Remember we have nil inflation.

FY results are out soon, last year 17 Feb. I expect solid evidence QBE intends to survive. If not, I am out.

Ash