Group CEO: “I see significant progress throughout the enterprise”
QBE Insurance coverage Group has launched its monetary outcomes for 2023 – a interval through which the insurer noticed greater than a doubling of its earnings.
Right here’s how QBE carried out within the yr ended December 31:
|
Metric
|
FY 2023
|
FY 2022 (restated)
|
|---|---|---|
|
Gross written premium (GWP)
|
$21.7 billion
|
$20 billion
|
|
Web insurance coverage income
|
$16.6 billion
|
$15.1 billion
|
|
Mixed working ratio (COR)
|
95.2%
|
95.9%
|
|
Web funding earnings
|
$1.4 billion
|
$570 million
|
|
Web revenue after earnings tax
|
$1.4 billion
|
$587 million
|
In 2023, QBE’s COR in Australia Pacific was 93.6%; for worldwide, 89.5%; and in North America, 103.7%. GWP in all three divisions grew from 2022.
Commenting on the numbers, group chief govt Andrew Horton mentioned in a launch: “Over the past two years, QBE has been centered on delivering higher resilience and consistency. I see significant progress throughout the enterprise, and I’m assured that we will drive additional progress in opposition to our strategic priorities in 2024.
“Our technique to enhance efficiency in North America stays a key focus for the board and administration, and we’re tasked to construct a enterprise which delivers efficiency that’s in keeping with our group targets. We have now renewed our concentrate on constructing and strengthening relationships with our main buying and selling companions, and are assured we will efficiently handle our priorities for the division.”
In the meantime the QBE board declared a remaining dividend of 48 Australian cents per share, which is larger than the 2022 remaining dividend.
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