QBE poised to exceed 2022 net profit
QBE (ASX:QBE) looks set to meet or exceed its 2022 net profit, thanks to a remarkable turnaround in investment returns during the year ending in December.
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QBE’s resilient performance: Higher dividend amid catastrophe costs surge
Amid a surge in catastrophe costs during the first half of 2023, insurance titan QBE (ASX:QBE) demonstrated resilience, driven by robust investment returns and a substantial rise in premium income.
Read MoreAirlie FM April 2023 Quarterly Update
Airlie FM’s Emma Fisher provides her views on the current market environment and discusses her recent trip to Europe where she visited the HQs of key holdings CSL and QBE Insurance.
Read MoreAirlie Puts QBE under the Microscope
With quality management and a strong cycle leading a business turnaround, Joe Wright from Airlie FM explains why he believes insurance major QBE still looks attractive.
Read MoreOz Insurers to Bear Brunt of Auckland Flood Claims
Just when the Australian insurance sector was looking at having escaped any major catastrophe over the holiday break, along comes Friday’s flooding event in Auckland.
Read MoreQBE Puts Market on Notice re Earnings Headwinds
Global insurance group QBE has warned that it faces continued challenging operating conditions as it heads towards the end of its full financial year on December 31.
Read MoreQBE Thinking the Worst is Behind it
QBE has upgraded its insurance outlook for the rest of 2022 despite being hit with a hefty drop in profits due largely to falls in investment markets in the six months to June 30.
Read MoreQBE – Morgans rates the stock as Add
The price target is increased to $14.76 from $14.45. The Add rating is unchanged.
Read MoreQBE – Morgans rates the stock as Add
Target price rises to $14.45 from $13.50. Add retained as Morgans sees a positive trajectory over the years forthcoming.
Read MoreBumper Crop Insurance Harvest a Win for QBE
Four months into its FY2022, QBE is looking at a strong surge in premium income and earnings, thanks in no small measure to the increasingly lucrative US crop insurance business.
Read MoreFitch Backs Local Insurers to Weather the Storm
Despite the $2.4 billion cost of March’s flooding along the East Coast, Fitch Ratings believes Australian general insurers like QBE, IAG and Suncorp will be able to avoid financial disaster.
Read MoreQBE – Credit Suisse rates the stock as Outperform
The broker maintains its Outperform rating and $14.45 target price.
Read MoreQBE Renaissance Continues
Global insurer QBE has boosted full dividends for its December, 2021 financial year to more than seven times the small 4 cents paid for Covid-hit 2020.
Read MoreQBE Shares Soar on Result, Payout
QBE lifted its dividend for the June half after its results saw a sharp recovery to a net profit of $US441 million from the loss of $US712 million in the corresponding period last year.
Read MoreQBE – Credit Suisse rates the stock as Outperform
The Outperform rating and $13.30 target are retained.
Read MoreQBE – Morgans rates the stock as Add
Morgans lifts FY21 and FY22 EPS estimates by 17% and 4%, and raises the target price to $11.83 from $10.78. The Add rating is maintained.
Read MoreQBE – UBS rates the stock as Buy
Buy with a target of $10.25.
Read MoreQBE – Morgans rates the stock as Add
QBE Insurance Group’s FY20 statutory loss of –US$1.5bn was in-line with the company’s December market update. Add rating and target is reduced to $10.08 from $10.37, as Morgans lowers FY21-22 EPS forecast by -8% and -1%
Read MoreForearmed and Forewarned, Investors Shrug off Poor QBE Result
QBE showed why timely updates and refreshed guidance can help soften the blow from bad news, when their shares rose more than 3% on Friday in the wake of their poor result.
Read MoreQBE Declares Big Loss, No Dividend
As expected the impact of COVID in various ways has forced global insurer QBE to omit paying a final dividend after a loss for 2020 of $US1.5 billion ($1.93 billion).
Read MoreUK Supreme Court Rules Against QBE on Policy Wording
More bad news on Monday from QBE after another COVID-19 court ruling went against it. with the UK Supreme Court upholding an appeal against the country’s High Court’s September 2020 ruling in a test case run by the key UK regulator, the Financial Conduct Authority (FCA).
Read MoreQBE – Macquarie rates the stock as Underperform
Macquarie has updated its thoughts and modeling for QBE Insurance Group. Macquarie analysts do not expect FY21 guidance and forecast only a 4c dividend in 2H20. The broker cuts its price target to $7.70 from $8 on further reduction in forecasts.
Read MoreHistory Repeats As “Very Disappointed” QBE Warns On Big Loss
The QBE bad news disease resurfaced again on Friday with news the insurer is expecting a loss of $US1.5 billion ($1.9 billion) for the year to December 31.
Read MoreQBE – Morgans rates the stock as Add
The NSW court of appeal has found in favour of policyholders and against General Insurers, in relation to the test case examining business interruption (BI) policy exclusions that reference the Quarantine Act.
Read MoreNSW Supreme Court Ruling Shakes Up Insurance Sector
The general insurance sector has been dealt a major blow with a NSW Court of Appeal decision that, if not overturned in the High Court, will see a surge in losses caused by payouts to policyholders who made claims due to the impact of the pandemic under business interruption policies held with insurers.
Read MoreQBE CEO Exits, Ex-BlueScope Exec Pleads Guilty To Obstructing Cartel Probe
QBE Group chief executive Pat Regan will leave the insurer after an external investigation into workplace communications that the board said did not meet the group’s code of ethics and conduct. Meanwhile, former senior BlueScope Steel executive Jason Ellis has pleaded guilty in Sydney’s court to one charge of obstructing a cartel investigation.
Read MoreQBE – Morgans rates the stock as Add
The FY20 results for QBE Insurance Group had largely been pre-released and Morgans states that many of the factors leading to a disappointing profit (NPAT) loss of -US$712m obscured improving underlying profitability trends driven by the ‘Brilliant Basics’ program and an increasingly favourable global pricing environment.
Read MoreQBE Surprises With Small Dividend Despite Earnings Slide
Insurer, QBE Group will defy an interim loss and give shareholders a surprise (but small) dividend for the six months to June 30. The global insurer revealed a US$712 million ($A993.6 million) net loss for the June half, slightly better than the $US750 million estimate in a late July update.
Read MoreQBE – Credit Suisse rates the stock as Outperform
QBE Insurance Group expects to report a statutory loss of -US$750m in the first half. The group also expects to incur costs of -US$600m, of which -US$335m will be in its first-half result, reports Credit Suisse.
Read MoreInsurers Diverge As QBE Flags Big Loss, Steadfast Upbeat
In this very difficult year dominated by the COVID-19 pandemic and its varying impact we saw two very different updates yesterday from different parts of the insurance industry for the year or half-year to June 30.
Read MoreQBE Braces For Virus Fallout With $1.3b Raising
Less than a week after paying out it’s final 27 A cents share dividend, global insurer QBE has launched a $A1.234 billion capital raising to strengthen its balance sheet to the point where it is “demonstrably strong” to cope with the growing pressures from the COVID-19 pandemic.
Read MoreBOQ Becomes First Bank To Defer Dividend
Brisbane-based regional bank, Bank of Queensland has become the first Australian financial group to heed the call by the regulator, APRA for a rethink and possible pause on dividends and other capital management moves.
Read MoreInsurers Diverge After QBE Drops Guidance, IAG Holds Firm
QBE was another to withdrew guidance yesterday, citing “extraordinarily difficult times for all stakeholders”. However, IAG shares surged more than 10% after the country’s biggest general insurer left its 2019-20 guidance in place.
Read MoreQBE Drops Dividend, Singles Out Climate Change Risks
Insurance giant QBE has warned that climate change poses a material threat to its business and the economy after booking a $300 million hit to revenue due to unusual weather events in the US, Europe, and Australia.
Read More“Adverse Weather Conditions”: QBE Hit By Claims Blowout
It couldn’t last – QBE’s period of no profit downgrades lasted for a year until yesterday when it revealed a nasty little surprise in the US.
Read More“Positive Momentum” Continues At Insurer QBE
Another result from QBE, the global insurer that hasn’t been impacted by problems somewhere in its far-flung operations.
Read MoreHeadwinds Build For Insurers And Wealth Managers
As FY20 unfolds, falling global bond yields will produce headwinds for the general insurance sector while wealth managers could enjoy a short-term uplift to recurring revenue.
Read MoreInsurer QBE “Well On Track” In 2019
A welcome lack of bad news or write-downs at yesterday’s annual meeting of global insurer QBE in Sydney. The insurer instead had good news for shareholders saying that it is on track to hit its guidance on financial performance this year, with premiums rising and investment returns in line with expectations.
Read MoreSea Of Calm Puts QBE Back In The Black
Shares in insurer QBE jumped more than 5% yesterday at one stage after the company failed to shock investors with bad news and instead turned in solid improvement in profit for 2018 and more to come – so long as nature remains well-behaved.
Read MoreQBE Warns On Profit “Headwind”
QBE Insurance shares took a bit of a hit yesterday after it released a strategy update that confused some investors.
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