Giant insurer QBE Insurance Group reported a strong financial performance for the first half of 2025, with a net profit increase of 27%. The company announced that its net profit reached $1.02 billion, driven by net insurance revenue exceeding $8.81 billion and gross written premiums rising by 6% to $13.8 billion.
Andrew Horton, the CEO of QBE, expressed satisfaction with the results, stating that the company is on track to meet its annual goals. He highlighted the balance achieved across various products and regions, which is contributing to their financial success.
The report also noted an improvement in the overall combined operating ratio, which decreased by 1% to 92.8%. This indicates better efficiency in managing claims and expenses. However, QBE’s Australia Pacific division, which includes Australia and New Zealand, saw a slight decline in gross written premiums, down 1% to $2.58 billion. Despite this, the division reported a significant improvement in its combined operating ratio, which fell from 95.6% to 86.8%, attributed to fewer catastrophe claims.
The company reported that its total natural catastrophe costs were $479 million, which was below their expected allowance. This was notable given the recent severe weather events, including record wildfires in California and numerous storms and floods in North America and Australia. Horton acknowledged the impact of these extreme weather conditions on communities and reaffirmed QBE’s commitment to supporting affected customers.
In terms of investments, QBE generated $788 million in total investment income for the half-year, reflecting a return of 2.4%. The company also declared dividends of 31 cents per share.
Overall, QBE’s financial results demonstrate its resilience and ability to adapt in a challenging environment, positioning the company well for future growth.