Nov 21 (Reuters) - QBE Insurance Group Ltd (QBE) :
- PERFORMANCE UPDATE
- GROWTH IN GROSS WRITTEN PREMIUM REMAINED STRONG IN 3Q22, UP 6% ON PCP
- IN THE YEAR TO SEPTEMBER, GROUP GROSS WRITTEN PREMIUM GROWTH WAS 12% ON THE PRIOR PERIOD
- TO OCTOBER, NET COST OF CATASTROPHE CLAIMS IN SECOND HALF IS TRACKING AT A$430M
- EXPECT FY22 GROUP COMBINED OPERATING RATIO OF AROUND 94%
- CONTINUES TO EXPECT FY22 GROUP CONSTANT CURRENCY GROSS WRITTEN PREMIUM GROWTH OF AROUND 10%
- EXPECTS TO STRENGTHEN LONG TAIL RESERVES IN H2 TO BUILD RESILIENCE FOR MORE PROLONGED INFLATIONARY ENVIRONMENT
- CHALLENGING OPERATING CONDITIONS HAVE PERSISTED INTO THE SECOND HALF
- HIGHER THAN EXPECTED CATASTROPHE COSTS INTRODUCED SOME RISK TO ORIGINAL FY OUTLOOK
- EXPECT SUPPORTIVE PREMIUM RATE ENVIRONMENT SHOULD CONTINUE INTO 2023
Nov 21 (Reuters) - QBE Insurance Group Ltd (QBE) : PERFORMANCE...
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