QBE 0.39% $18.08 qbe insurance group limited

Feb 18 (Reuters) - QBE Insurance Group Ltd (QBE) : CATASTROPHE...

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    Feb 18 (Reuters) - QBE Insurance Group Ltd (QBE) :

    • CATASTROPHE CLAIMS FOR YEAR WERE $905M OR 6.6% OF NET EARNED PREMIUM
    • SEES INDUSTRY OPERATING ENVIRONMENT REMAINS HIGHLY UNCERTAIN
    • FY ADJUSTED NET CASH PROFIT AFTER TAX $805 MILLION VERSUS LOSS OF $863 MILLION
    • FY GROSS WRITTEN PREMIUMS GREW BY 22% TO $18,457 MILLION
    • SEES GROSS WRITTEN PREMIUM GROWTH TO BE IN HIGH SINGLE DIGITS IN 2022
    • IN FY22, EXPECT THE BUSINESS WILL ACHIEVE FURTHER STEADY IMPROVEMENT ON THE FY21 ‘EXIT’ COMBINED OPERATING RATIO OF AROUND 94%.
    • PREMIUM PRICING ENVIRONMENT IS LIKELY TO REMAIN POSITIVE IN 2022.
    • CAPABLE OF CONSISTENTLY DELIVERING A LOW TO MID-90'S COMBINED OPERATING RATIO IN 2022
    • REPORTED A STATUTORY FY21 COMBINED OPERATING RATIO OF 93.7% COMPARED WITH 104.2% IN THE PRIOR YEAR
 
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