Group CEO: “I see significant progress throughout the enterprise”
QBE Insurance coverage Group has launched its monetary outcomes for 2023 – a interval wherein 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
|
|
Internet insurance coverage income
|
$16.6 billion
|
$15.1 billion
|
|
Mixed working ratio (COR)
|
95.2%
|
95.9%
|
|
Internet funding earnings
|
$1.4 billion
|
$570 million
|
|
Internet 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 government Andrew Horton mentioned in a launch: “Over the past two years, QBE has been targeted on delivering larger resilience and consistency. I see significant progress throughout the enterprise, and I’m assured that we will drive additional progress towards 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 step with our group targets. We now have renewed our deal with 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 closing dividend of 48 Australian cents per share, which is larger than the 2022 closing dividend.
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