QBE Insurance Group (ASX:QBE) disclosed its financial performance for the full year ended Dec. 31, 2025, noting that profit growth and strengthened underwriting margins.
The global insurer announced a statutory net profit after tax of $2.16 billion, a substantial climb from the $1.78 billion recorded in 2024.
On an adjusted basis, net profit reached $2.13 billion, fueling an adjusted return on equity of 19.8%.
The group's top-line momentum remained strong, with gross written premium increasing by 7% (8% excluding exited portfolios) to $23.96 billion.
The growth was largely propelled by targeted organic expansion in North America and International markets.
QBE demonstrated improved operational efficiency; the combined operating ratio sharpened to 91.9%, down from 93.1% the previous year, outperforming the company's guidance of approximately 92.5%.
Investment performance provided further tailwinds, contributing $1,633 million in net income at a steady return of 4.9%.
Despite a slight uptick in the debt-to-capital ratio to 24.1%, the group’s capital position remains robust with a PCA multiple of 1.87x, comfortably within its target range.
QBE declared a full-year dividend of $1.09 per share, representing a 25% increase over the prior year.