SYDNEY, Feb 23 (Reuters) - QBE Insurance Group Ltd (QBE) on Tuesday posted a 9 percent rise in annual cash profit even as Australia's No.1 insurer by premium income lowered 2016 guidance for premium growth, saying pricing and investment markets continue to remain challenged.
Cash profit rose to $893 million for the twelve months to Dec. 31 from $821 million a year ago and higher than analysts' forecast of $833 million.
The insurer, which generates almost three quarters of its premiums abroad, lifted its 2015 interim dividend by 36 percent to 30 Australian cents a share.
It missed its own guidance for gross written premiums (GWP) for the year as it felt the impact of currency headwinds, a China-led slowdown in Asia and weakness in some North American and Australian market segments. For 2016, it sees GWP at $14.2-$14.6 billion compared with $14.8 billion in 2015.
Net earned premium (NEP) for 2015 at $12.2 billion also fell short of its own expectations. For 2016, it sees NEP at a $11.6-$12.0 billion range.
News: Australia's QBE annual cash profit rises, lowers guidance
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
$21.39 |
Change
-2.060(8.78%) |
Mkt cap ! $32.29B | |||
| Open | High | Low | Value | Volume |
| $23.17 | $23.24 | $21.34 | $152.5M | 6.973M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 9526 | $21.39 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.48 | 16420 | 3 |
View Market Depth
| Last trade - 16.14pm 08/08/2025 (20 minute delay) ? |
| QBE (ASX) Chart |