QBE Insurance Posts Doubling of Half-Year Profits

QBE Insurance Group Limited (AU:QBE) has released an update.

QBE Insurance Group Limited has reported a significant increase in their financial results for the first half of 2024, with net profit soaring by 101% to $802 million, compared to $400 million in the previous year. This performance surge is attributed to lower catastrophe costs, stable reserve development, and strong investment income, despite portfolio exits in North America and Australia Pacific. The company also declared an interim dividend of 24 Australian cents per security, which will be paid on 20 September 2024.

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