Rate hikes help boost QBE profits

Natural catastrophe losses in Australia and North America did not stand in the way of QBE posting a 41% increase in after tax profits to A$550m for 2019. Australia’s second-largest listed insurer benefited from rising prices and an improved combined ratio across its portfolio. QBE saw a full-year average rate increase of 6.3%, with an average rate increase of 8.3%…

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