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    QBE   AU000000QBE9

QBE INSURANCE GROUP LIMITED

(QBE)
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QBE Insurance : Flags 1st Half Statutory Loss of US$750 Million

07/21/2020 | 05:22pm EDT

By Alice Uribe

SYDNEY--QBE Insurance Group Ltd. has said it expects to post a first-half statutory net loss of around US$750 million, after taking a hit from Covid-19 related costs, higher catastrophe claims and prior accident year claims.

The Australian general insurer said a net investment loss of around US$125 million arising from investment market volatility would also hit profits.

QBE estimated that total Covid-19 related costs would be around US$600 million before tax, and said this included around US$265 million of potential further net claims that could emerge over the next 12-18 months.

These are primarily in trade credit and lenders mortgage insurance, but also in casualty, accident and health, landlords' insurance and other classes.

QBE said its capital position "remains strong when measured against both regulatory and rating agency capital requirements," and will report its interim results on Aug. 13.

 

Write to Alice Uribe at alice.uribe@wsj.com

 

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Analyst Recommendations on QBE INSURANCE GROUP LIMITED
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Financials
Sales 2021 18 635 M 13 909 M 13 909 M
Net income 2021 1 119 M 835 M 835 M
Net Debt 2021 3 253 M 2 428 M 2 428 M
P/E ratio 2021 15,5x
Yield 2021 3,25%
Capitalization 17 467 M 13 051 M 13 037 M
EV / Sales 2021 1,11x
EV / Sales 2022 1,05x
Nbr of Employees 11 444
Free-Float 99,6%
Chart QBE INSURANCE GROUP LIMITED
Duration : Period :
QBE Insurance Group Limited Technical Analysis Chart | QBE | AU000000QBE9 | MarketScreener
Technical analysis trends QBE INSURANCE GROUP LIMITED
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 11
Last Close Price 11,83 AUD
Average target price 13,64 AUD
Spread / Average Target 15,3%
EPS Revisions
Managers and Directors
David Andrew Horton Group Chief Executive Officer & Director
Inder Singh Group Chief Financial Officer
Michael Wilkins Non-Executive Chairman
Matt Mansour Group Executive-Technology & & Operations
John M. Green Deputy Chairman
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