(Adds details from paragraph 2 onwards)
Feb 16 (Reuters) - Australia's QBE Insurance Group's (QBE) full-year profit more than doubled on Friday, helped by higher income from premiums and lower claims.
Improved weather conditions in the second-half of the year reduced catastrophe-related costs for the insurer, while gross written premiums on a headline basis rose 9% to $21.75 billion for the year, supported by higher premium rates as well as targeted new business growth.
The group, which operates in 27 countries including the United States, said adjusted net cash profit after income tax was $1.36 billion for the year ended Dec. 31, compared with $664 million a year earlier and an LSEG estimate of $1.40 billion.
The company also announced a final dividend of 48 Australian cents per share, up from 30 Australian cents per share declared a year ago.
News: QBE UPDATE 1-Australia's QBE Insurance annual profit more than doubles
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Last
$22.89 |
Change
0.135(0.59%) |
Mkt cap ! $34.51B | |||
| Open | High | Low | Value | Volume |
| $22.52 | $22.89 | $22.52 | $25.38M | 1.116M |
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| No. | Vol. | Price($) |
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| Price($) | Vol. | No. |
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| QBE (ASX) Chart |