June 21 (Reuters) - QBE Insurance Group (QBE) said on Wednesday its emerging markets division saw higher than expected claims activity during the first five months of 2017, leading the insurer to forecast a higher combined operating ratio.
The reasons for higher claims included more weather-related claims in Latin America and a higher frequency of medium-sized risk claims in Asia, the company said.
The group now expects a half-year and annual combined operating ratio of 94.5 percent to 96 percent, compared with a February forecast of 93.5 percent to 95 percent. A lower combined operating ratio typically translates to higher profits for insurers.
News: QBE Australia's QBE Insurance expects higher combined operating ratio
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