QBE has doubled it's net profit to $US802 million ($1.22 billion) from $US400 million ($609 million) while gross written premium increased 2% to $US13.05 billion ($19.88 billion) . A reduction is catastrophic events and an increase in investment income contributed to stellar performance.
“We have seen a positive start to the year, highlighted by further improvement in underwriting performance and strong return on equity,” group CEO Andrew Horton said on Friday.
Group-wide premium rate increases slowed to 6.7% in the half from 8.9% in the second six months of last year and 10.2% in first-half 2023. In Australia, rate increases eased to 9% in the second quarter from 11% in the first.