QBE Insurance reports US$1.03B half year profit

• QBE Insurance posted a half-year net profit of US$1.03 billion.
• Following the market update, the company's share price was down at $23.47.
• The company stated that improving capital efficiency will remain a primary focus.

QBE Insurance Group (ASX:QBE) increased its half-year net profit after income tax to US$1.03 billion, representing an increase from the US$997 million adjusted net profit recorded in the prior period.

Net insurance revenue climbed to US$9.55 billion from US$8.81 billion a year earlier. The company swung to net investment losses worth US$171 million, compared to a reversal of US$141 million last year.

The company stated that its combined operating ratio remained steady at 92.8% for the half year.

The company noted gross written premium reached US$15.14 billion and announced the sale of its trade credit business.

Following the announcement, the QBE share price was down at $23.47.

The insurer declared an interim dividend of 33 cents per share, representing a 33% payout ratio and higher than a prior-year dividend of 31 cents per share.

For the full year 2026, it expects to record a combined operating ratio of around 92.5%. It also eyes a 15% adjusted return on equity, alongside a constant currency GWP growth in mid-single digits.

QBE noted it also completed an $450 million on-market share buyback in April.