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Global insurer QBE doubles first-half profit as it flags more premium price increases

Pelican Press

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Global insurer QBE doubles first-half profit as it flags more premium price increases

QBE has doubled its profit for the six months to the end of June partly driven by premium rate increases — with the global insurer foreshadowing even further hikes.

QBE on Friday posted a 101 per cent lift in first-half profit to $US802 million ($1.2 billion), from $US400m, which it said reflected continued premium renewal rate increases, lower catastrophe costs and more stable reserve development.

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