QBE Insurance Group Limited ( (QBEIF) ) has released its Q4 earnings. Here is a breakdown of the information QBE Insurance Group Limited presented to its investors.
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QBE Insurance Group Limited is a leading international insurer and reinsurer, headquartered in Sydney and listed on the Australian Securities Exchange, operating in commercial and specialty markets across three divisions: North America, International, and Australia Pacific.
In its latest earnings report, QBE Insurance Group Limited has shown a commendable performance in 2024, demonstrating significant progress in financial metrics and strategic initiatives. The company reported a gross written premium of $22,395 million, a 3% increase from the previous year, and a net profit after income tax of $1,779 million, up from $1,355 million in 2023.
Key financial highlights include a combined operating ratio improvement to 93.1% from 95.2% in the prior year, an adjusted return on equity rising to 18.2% from 15.8%, and a strong investment performance bolstered by favorable interest rates. Additionally, QBE’s strategic focus on portfolio optimization, sustainable growth, and modernizing its business has contributed to these positive outcomes.
Looking forward, QBE’s management is optimistic about achieving further growth, projecting mid-single-digit growth in gross written premiums for 2025 and aiming for a combined operating ratio of approximately 92.5%. The company expects continued support from elevated interest rates and strong investment returns, while focusing on enhancing customer experience and operational efficiency.
