QBE Insurance : 2017 Half Year Results Presentation

QBE Insurance Group Limited ABN 28 008 485 014 Level 27, 8 Chifley Square, SYDNEY NSW 2000 Australia GPO Box 82, Sydney NSW 2001

telephone + 612 9375 4444 • facsimile + 612 9231 6104 www.qbe.com

@

QBE

17 August 2017

The Manager

Market Announcements Office ASX Limited

Level 4

Exchange Centre 20 Bridge Street

SYDNEY NSW 2000

Dear Sir/Madam,

QBE results presentation for the half year ended 30 June 2017

Further to the Company's release to the market today of its results for the half year ended 30 June 2017, please find attached a copy of the presentation to be delivered to the market this morning.

Carolyn Scobie

Company Secretary

Attachment

I

QBE Insurance Group

2017 half year results presentation

John Neal  Group Chief Executive Officer

Pat Regan  Group Chief Financial Officer

Thursday 17 August 2017

All figures in US$ unless otherwise stated

John Neal Group Chief Executive Officer

2 

1H17 RESULTS SNAPSHOT

GWP

NEP

CLAIMS RATIO4

EXPENSE RATIO

+3% growth1 +6% growth1

$6,045M
	$5,791M3

$8,044M2
	$7,892M2

61.3%3 63.1%5

16.1%3 15.2%

1H16 1H17

1H16 1H17

1H16 1H17

1H16 1H17

COR4

CAY COR6

INSURANCE MARGIN

ROE

94.5%3 95.3%5

1H16 1H17

97.9%3 97.1%

1H16 1H17

5.6%3 9.3%5

1H16 1H17

5.1%8.8%5

1H16 1H17

1. Constant currency basis

2. Excludes M&LS fronting (refer page 11 of HY17 report for details)

3. Excludes transactions to reinsure UK long-tail liabilities (refer page 11 of HY17 report for details)

4. Excludes the impact of changes in risk-free rates used to discount net outstanding claims

5. Excludes a $156M one-off adverse impact on the Group's underwriting result due to the Ogden decision in the UK (refer page 11 of HY17 report for details)

6. Excludes $38M (1H16 $22M) of favourable Crop prior accident year development that is offset by

an additional reinsurance cession to the US Government under the Federal crop reinsurance

3 arrangements