QBE- cant make this stuff up. Even with US rates momentum now building with US employment figures continuing to strengthen and the Fed to start unwinding its balance sheet that should give QBE more income by not doing anything they stuff it up with not meeting earnings guidance. Doesnt matter the merits of the situation the market perception is not good.
In terms of timetable AGM in early May provides FY guidance- then by 21 June 2017 Emerging Markets presents a problem (although Emerging Markets is QBEs smallest division). Did the claims experience worsen in May and June or was it just a lack of forecasting or lack of awareness of the underlying business? There just isnt much goodwill that QBE can rely on so they should have this process nailed on.
At least the investment return guidance is coming on the high side of guidance.
QBE Price at posting:
$11.64 Sentiment: Hold Disclosure: Held
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