CANBERA (dpa-AFX) - QBE Insurance Group (QBE.AX, QBEIF.PK) reported a net profit after tax of US$151 million in the half year ended 30 June 2022, down from US$441 million last year, reflecting adverse mark-to-market impacts on our investment portfolio, the transaction to reinsure North America Excess & Surplus lines prior accident year liabilities, the Australian pricing promise review and an adverse risk free rate mismatch.
Adjusted cash profit after tax reduced to US$169 million from US$463 million in the prior period.
But net earned premium rose to US$6.79 billion from US$6.57 billion in the prior year.
The Board has declared an interim dividend of 9 Australian cents per share, a decrease from 11 Australian cents per share in the prior period.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Copyright(c) 2022 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2022 AFX News
