QBE has announced a net profit after tax of $1,779 million, which increased from $1,355 million in the previous reporting cycle. Adjusted net profit after tax increased to $1,729 million from $1,362 million in the prior year, resulting in an adjusted return on equity of 18.2 per cent.
“2024 marked the third year since we launched our new purpose, vision and strategic priorities, and our financial performance for the period speaks to the considerable progress we have achieved. We beat our plan for the year (and) continue to demonstrate greater resilience and are excited about our prospects for the year ahead,” QBE Group CEO, Andrew Horton, said.
“I am pleased with QBE’s performance in 2024, which reflects our commitment to driving greater consistency, and unlocking value through operating as a global enterprise. We made meaningful progress against our strategic priorities and it has been particularly exciting to see the business transition from a focus on historic challenges, to concentrating on the opportunities ahead.
“Our six strategic priorities have been refined in 2025. This year we have created a new customer strategic priority, with the goal of providing a more customer centric approach to our product, service and distribution strategy. Alongside our strong relationships with major trading partners, we aim to build deeper relationships with our customers.”
The QBE Board has declared a final dividend of 63 Australian cents per share, which results in a full year dividend of 87 Australian cents per share. This represents a full year dividend payout ratio of 50 per cent of adjusted net profit after tax.