QBE appears to be progressing with its restructure and selling assets such as Crop Insurance in USA and liability insurance in Argentina. In the short term, the higher US dollar will give a boost to its profits. Also, there appears to be no major disasters that will hit its bottom line. However, you have the USA typhoon season approaching.
Personally, QBE has uplift potential. It just needs to report and say that there are no significant writedowns and the share price will lift some 10% within 6 months. It traded at around high $14 some 6 months ago and went down to mid $11 on the news that Suncorp lowered its profits because of the QLD floods and lower insurance margins. However, unlike Suncorp, QBE is an international insurer and not just a QLD insurer. I notice that most stockbrokers have a buy rating (not that that mean anything)
QBE Price at posting:
$12.44 Sentiment: Buy Disclosure: Held
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