QBE Insurance slides on trading update, $450m buyback
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More news: Shares in QBE Insurance tumbled in morning trade despite the company reiterating its full-year guidance.
QBE shares were down 3.7% to $19.04 at 11:30am AEDT. Rival insurers Suncorp (-2.1%) and IAG (-0.6%) also fell.
QBE affirms FY outlook, unveils $450m buyback
The news: Insurance business QBE has reiterated its full-year guidance amid gross written premium growth and has announced a $450 million on-market share buyback, which will commence in December 2025 and run over 2026.
The numbers: QBE reported premium growth of 6% in the nine months to the end of September when compared to the previous corresponding period. When excluding rate increases, growth was 5%, in line with first half trends and underpinned by “sustained momentum across international and North America”.
The insurer reiterated its full year outlook for mid-single-digit gross written premium growth and a FY25 group combined operating ratio of about 92.5%.
The context: QBE expects return on equity to remain in the high-teens for the rest of the year, driven by "targeted premium growth and a continuation of strong underwriting and investment performance”.
The company also said planning for FY26 is “well advanced” and similarly expects a combined operating ratio of about 92.5%. Growth outlook for FY26 will be released alongside its FY25 result on 20 February 2026.
What they said: “Profitability remains attractive across the majority of lines and the year ahead appears constructive for future growth, and a continuation of strong returns,” QBE’s performance update reads.
The source: ASX
