July 19 (Reuters) - QBE Insurance Group Ltd (QBE) :
- QBE ANNOUNCES IMPACT OF AUSTRALIAN PRICING PROMISE REVIEW-QBE.AX
- BEEN INVESTIGATING PRICING PRACTICES DATING BACK SEVERAL YEARS, ACROSS A NUMBER OF DIFFERENT POLICY ADMINISTRATION SYSTEMS & PRODUCTS
- HAS IDENTIFIED INSTANCES WHERE POLICY PRICING PROMISE WAS NOT FULLY DELIVERED
- TO RECORD PROVISION IN 1H22 TO ACCOUNT FOR EXPECTED CUSTOMER REMEDIATION, INTEREST PAYABLE, OTHERS OF $75M BEFORE TAX
- WORKING PROMPTLY TO CLOSE OUT OUR PROCESS, AND REMEDIATE IMPACTED CUSTOMERS
- PROVISION IN H122 WILL BE EXCLUDED FROM MANAGEMENT BASIS UNDERWRITING RESULT
July 19 (Reuters) - QBE Insurance Group Ltd (QBE) : QBE...
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