- QBE to close its North America middle-market segment after a strategic review.
- The middle-market segment contributed approximately $500 million in gross written premium in FY23.
- The segment has faced performance challenges for several years.
- This closure aims to refocus North America’s strategy on more significant market segments with better relevance and scale.
- The closure is expected to have a minimal impact on QBE’s FY24 Group combined operating ratio.
- QBE projects 1H gross written premium to be around $13.1 billion, showcasing a 3% year-over-year growth at constant currency.
- 1H net insurance revenue is anticipated to be about $8.4 billion.
- Group catastrophe costs for the first five months estimated at around $500 million, against a budget of $609 million.
- Total investment income for the first five months is $643 million.
- QBE expects FY24 Group gross written premium growth at constant currency to be in the mid-single digits.
- Analyst recommendations for QBE include 10 buys, 2 holds, and 1 sell.
Qbe Insurance on Smartkarma
Analyst coverage of Qbe Insurance on Smartkarma recently featured a report by Janaghan Jeyakumar, CFA titled “Quiddity ASX Mar 24 Index Rebal: Many High-Impact Names.” Jeyakumar’s analysis indicated that on average, stocks being added to the index had 11 times the average daily volume (ADV) for buys, while those being deleted had 8 times ADV for sells. The report suggested that the additions could potentially outperform the deletions over the next two weeks. Following the March 2024 index rebalancing event for ASX indices, changes were noted across various categories, with 14 additions and 10 deletions for ASX 300.
The insights provided by Jeyakumar offer valuable perspectives for investors tracking Qbe Insurance among other companies. His bullish sentiment towards the high-impact names included in the rebalancing indicates a positive outlook on their performance. Investors seeking independent research on companies like Qbe Insurance can leverage Smartkarma’s platform to access detailed reports authored by top analysts like Janaghan Jeyakumar, CFA, to make more informed investment decisions in the market.
A look at Qbe Insurance Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 3 | |
| Growth | 5 | |
| Resilience | 3 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
QBE Insurance Group Limited, an insurance company that offers various commercial and industrial insurance policies along with individual policies, is showing positive signs for long-term growth. With a top score in Growth and Momentum, the company is poised for expansion and has strong forward momentum.
While maintaining steady scores in Value, Dividend, and Resilience, QBE Insurance demonstrates stability in its financial standing. Combining growth potential with resilience against market fluctuations, the company presents a balanced outlook for investors seeking long-term prospects in the insurance sector.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Analytics and News
- ✓ Events & Webinars
