(Adds share performance, other metrics)
Aug 15 (Reuters) - Australia's QBE Insurance Group (QBE) said on Thursday its first-half cash profit rose 35%, helped by lower claims losses and robust investment return.
The country's third-largest listed insurer's cash profit for the six months ended June 30 rose to A$520 million ($351.05 million) from A$385 million a year ago.
That sent the company's shares as high as 3% to A$12.44 in early trade, while the broader market (xjo) was nearly 2% lower.
QBE is in recovery mode after a weak spell, having posted a record annual loss in 2017 as hurricanes swept the Atlantic and earthquakes rattled Mexico.
It had ended fiscal 2018 with a better than expected profit.
The insurer's combined operating ratio (COR) - claims payouts against premium income - came in at 95.2%, slightly better than the mid-point of its projected range of 94.5%-96.5% for fiscal 2019.
QBE reaffirmed its full-year forecast on Thursday and declared an interim dividend of 25 Australian cents a share, higher than the 22 cents interim payout of last year. ($1 = 1.4813 Australian dollars)
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Last
$16.37 |
Change
-0.020(0.12%) |
Mkt cap ! $24.64B |
Open | High | Low | Value | Volume |
$16.44 | $16.44 | $16.35 | $10.26M | 626.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
18 | 3333 | $16.35 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$16.37 | 2619 | 12 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 914 | 16.350 |
10 | 3587 | 16.340 |
9 | 4206 | 16.330 |
8 | 1994 | 16.320 |
8 | 3922 | 16.310 |
Price($) | Vol. | No. |
---|---|---|
16.360 | 1228 | 6 |
16.370 | 3932 | 14 |
16.380 | 3186 | 9 |
16.390 | 3388 | 9 |
16.400 | 2165 | 9 |
Last trade - 10.44am 03/10/2024 (20 minute delay) ? |
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