Ann: Trading Halt, page-40

Does anyone have insights into how potential Covid claims might impact QBE? I had thought QBE was fairly insulated because pandemics have been a general exclusion since SARS, but I’m not so sure now.
Past CEO John Neal now head Lloyds in London, and I heard him yesterday saying that this will be the biggest disaster (in $$) to ever hit the insurance industry.

There is nothing so far from QBE about their Covid liability, including among the SPP documentation.
QBE will certainly be hit by low rates and equities losses, but Covid could be orders of magnitude more if they have liabilities (eg business continuation claims).

I think QBE is much more investable now then a few years back, but I think they need to come clean on Covid. It could be a total unknowable at this point, but it’s difficult to invest in an insurance company if there are unknowable and unquantifiable risks. I would want them to do that prior to taking up the SPP.

Would value any views on this.