Ann: Market Presentation on 2023 Half Year Results, page-14

QBE Insurance Price Target Raised 2.6% to A$19.50/Share by UBS01/11/2023 9:14AM No story, headline only

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QBE is the most interest rate sensitive stock on the ASX, IMHO.

While we all hang on the next interest rate setting, QBE capitalises it. Two decade + of falling then near zero interest rates meant it was always on the wrong side of the game - despite being a quality operation with full knowledge and every tool to protect itself.

This insurer doesn't need further I rises to make good money - it just needs the wriggle room of positive rates to trade within.

30 June, it said the passing yield on its bond ladder was 4.5%. Realised yields six months later would be better.

M&A awaits opportunity, currently absent.

Ash