Company Interview / QBE surging past expectations

Chief Financial Officer Inder Singh from QBE (ASX: QBE) states that the insurer's 2024 profit of nearly $1.8 billion surpasses expectations, aided by higher premiums and fewer catastrophe claims. Brokers upgrade their outlook as QBE (ASX: QBE) anticipates mid to single-digit growth in gross written premiums for 2025.

Inder highlights QBE's consistency and growth, noting a combined operating ratio of 93.1%. Excluding certain businesses, underlying growth hits 9%. Despite industry-wide losses, QBE's portfolio optimisation reduces volatility, strengthening the company's resilience.

Inder remarks that interest rates impact QBE's $30 billion in assets, but the weak Aussie dollar doesn't greatly affect net earnings. He adds that QBE employs AI for improved efficiency and strives for affordable insurance amid rising risks and premium considerations.