QBE Insurance Group has reported a robust financial performance for the full year ending 31 December 2024, with a statutory net profit of $US1.78 billion ($2.78 billion), marking a 31% increase from the prior year. This surge in profitability has enabled the insurer to declare a final dividend of 63¢ per share, bringing the total dividend for the year to 87¢ per share, up from 62¢ in 2023, and representing 50% of its net profit.
Gross written premium (GWP) experienced a 3% uplift, reaching $US22.4 billion ($35 billion). Excluding the impact of lower premiums in agricultural crop insurance, the GWP growth stands at 5%. The company anticipates mid-single-digit premium growth in 2025, reflecting confidence in its underwriting capabilities and market positioning.
Investment income for the year totaled $US1.5 billion ($2.3 billion), yielding a return of 4.9%. This performance underscores QBE’s prudent investment strategy amidst fluctuating market conditions.
