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    QBE   AU000000QBE9

QBE INSURANCE GROUP LIMITED

(QBE)
  Report
Delayed Australian Stock Exchange  -  08:28 2022-09-29 pm EDT
11.58 AUD   -0.17%
09/26Queensland Supreme Court awards for personal injuries in 2021
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08/18QBE INSURANCE GROUP LIMITED : Ex-dividend day for interim dividend
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08/15UBS Adjusts QBE Insurance Group's Price Target to AU$17 From AU$16, Keeps at Buy
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QBE says premiums jump on crop insurance, warns of hit from Ukraine war

05/04/2022 | 09:32pm EDT

May 5 (Reuters) - Australia's QBE Insurance Group said on Thursday its first-quarter written premiums grew 22% in constant currency terms, as volatility because of the Russia-Ukraine war led to more demand to insure crops.

The war in Ukraine has rattled commodity markets as it threatens to choke supplies from Ukraine and Russia, which together account for about 30% of the world's wheat trade. It has led to a surge in demand for Australian grain.

QBE said its quarterly gross written premiums rose to $6.9 billion, and forecast premiums for crop insurance would jump by more than 22% to about $3.3 billion this year.

The company's shares rose 3.5% to A$12.44 by 0100 GMT and were set for their sharpest one-day gain since March 22.

"Despite a number of natural catastrophes and significant geopolitical events, positive momentum experienced through FY21 continued into 1Q22," Group Chief Executive Andrew Horton said.

QBE said it expected its annual group combined operating ratio to improve on last year's ratio of about 94%. Combined ratio is a key measure of profitability for insurers and a level below 100% indicates an underwriting profit.

It also forecast a net impact of around $75 million from its exposure to the broader Russia-Ukraine conflict from political violence, political risk and aviation insurance. (Reporting by Savyata Mishra in Bengaluru; Editing by Christian Schmollinger and Jamie Freed)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
QBE INSURANCE GROUP LIMITED -0.09% 11.58 Delayed Quote.0.35%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -2.04% 56.75 Delayed Quote.-22.40%
WHEAT FUTURES (ZW) - CBE (ELECTRONIC)/C1 -0.89% 895.25 End-of-day quote.17.19%
All news about QBE INSURANCE GROUP LIMITED
09/26Queensland Supreme Court awards for personal injuries in 2021
AQ
08/18QBE INSURANCE GROUP LIMITED : Ex-dividend day for interim di..
FA
08/15UBS Adjusts QBE Insurance Group's Price Target to AU$17 From AU$16, Keeps at Buy
MT
08/12News Highlights: Top Financial Services News of the Day
DJ
08/11FNArena Corporate Results Monitor - 12-08-2022
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08/11Australian Shares Rebound After US Inflation Falls Below Expectations
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08/10QBE Insurance's Net Profit Plunges 66% in Six Months to June 30
MT
08/10Transcript : QBE Insurance Group Limited, H1 2022 Earnings Call, Aug 11, 2022
CI
08/10QBE Upgrades Gross Written Premium Growth Outlook
DJ
08/10QBE Insurance Group Limited Announces Dividend for the Period of Six Months Ended 30 Ju..
CI
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Analyst Recommendations on QBE INSURANCE GROUP LIMITED
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Financials
Sales 2022 20 585 M 13 338 M 13 338 M
Net income 2022 1 022 M 662 M 662 M
Net Debt 2022 3 396 M 2 200 M 2 200 M
P/E ratio 2022 17,6x
Yield 2022 3,78%
Capitalization 17 223 M 11 160 M 11 160 M
EV / Sales 2022 1,00x
EV / Sales 2023 0,94x
Nbr of Employees 11 404
Free-Float 99,5%
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Technical analysis trends QBE INSURANCE GROUP LIMITED
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 12
Last Close Price 11,60 AUD
Average target price 15,66 AUD
Spread / Average Target 35,0%
EPS Revisions
Managers and Directors
David Andrew Horton Group Chief Executive Officer & Director
Inder Singh Chief Financial Officer-Australia & New Zealand
Michael Wilkins Independent Non-Executive Chairman
Matt Mansour Group Executive-Technology & & Operations
Brian Pomeroy Independent Non-Executive Director
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