News: QBE QBE Insurance Posts FY Adjusted Net Cash Profit After Tax $1,362 Mln

Feb 16 (Reuters) - QBE Insurance Group Ltd (QBE) :

• FY ADJUSTED NET CASH PROFIT AFTER TAX $1,362 MILLION VERSUS $664 MILLION
• FY REVENUE FROM ORDINARY ACTIVITIES $20,826 MILLION
• FY NET COST OF CATASTROPHE CLAIMS INCREASED MARGINALLY TO $1,092 MILLION OR 6.6% OF NET INSURANCE REVENUE
• INFLATION CHALLENGES EXPECTED TO REMAIN A FEATURE FOR THE FORESEEABLE FUTURE
• FY TOTAL NET INVESTMENT INCOME WAS $1,369 MILLION FOR COMPARED WITH A NET LOSS OF $773 MILLION IN PRIOR YEAR
• SEES AGGREGATE CLAIMS INFLATION TO NORMALISE SLIGHTLY INTO 2024
• OUTLOOK FOR PREMIUM RATE INCREASES REMAINS FAVOURABLE
• INFLATION CHALLENGES EXPECTED TO REMAIN A FEATURE FOR FORESEEABLE FUTURE

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