QBE Insurance Group, based in Australia, has reported a significant 27% increase in profits, demonstrating strong performance in the competitive insurance market. The announcement came on August 8, 2025, and highlights the company’s focus on enhancing its relationships with insurance brokers, which account for over 95% of its business.
Andrew Horton, the Group CEO, shared insights into the strategies that contributed to this growth. He emphasized the importance of improving how QBE collaborates with brokers, stating that the company has made considerable changes to its distribution of insurance products. Over the past two years, QBE has prioritized distribution by placing a dedicated head of distribution at the executive level. This move aims to simplify processes for brokers and enhance the overall customer experience.
Horton noted that the company is now more focused on brokers than ever before. He explained that QBE has shifted its approach from treating its three divisions—North America, International, and Australia-Pacific—as separate entities to a more integrated strategy. This change allows for a unified view of broker relationships across all divisions.
To strengthen these partnerships, QBE is assigning a member of its executive committee to each major broker partner. This decision is intended to ensure that each relationship is nurtured and functioning optimally. Horton also mentioned that the company plans to expand its offerings tailored to brokers, which are designed to support the portfolios they create.
In addition to enhancing broker relations, QBE is also focused on achieving a balanced portfolio across various product lines and geographic regions. Horton explained that this strategy helps mitigate risks associated with global events, ensuring that the company does not become overly concentrated in any one area.
Financially, QBE’s performance has been bolstered by improved underwriting results, with the combined ratio decreasing from 93.8% to 92.8%. The company also reported a total investment income of $788 million for the half-year, reflecting a return of 2.4%. Despite a challenging economic environment, Horton noted that QBE remains in a strong capital position, even after increasing its dividend by over 20% compared to the previous year.
Overall, QBE’s recent profit surge and strategic focus on broker relationships signal a robust outlook for the company as it continues to adapt and thrive in the insurance industry.