Group CEO: “I see significant progress throughout the enterprise”
QBE Insurance coverage Group has launched its monetary outcomes for 2023 – a interval during which the insurer noticed greater than a doubling of its earnings.
Right here’s how QBE carried out within the 12 months 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 revenue
|
$1.4 billion
|
$570 million
|
|
Internet revenue after revenue 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 said in a release: “During the last two years, QBE has been centered on delivering better 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 step with our group targets. We now have renewed our give attention to 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 greater than the 2022 remaining dividend.
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