Australia's QBE climbs to nine-month high on solid quarterly premiums, outlook

QBE Insurance

08/05/2026 01:31

** Australia's top insurer by market cap QBE QBE.AX climbs as much as 1.9% to A$23.08, its highest point in nine months

** Stock ranks among the top gainers on the financials sub‑index .AXFJ, defying a 1.5% drop in the broader sector

** QBE says first-quarter gross written premiums up 11% YoY, while highlighting broadly supportive market conditions and strong rate adequacy across its global portfolio

** Reaffirms its FY26 outlook, continuing to target mid-single-digit gross written premium growth on a constant-currency basis

** Adds that catastrophe losses hit about $300 million through April, with Middle East conflict-related claims limited to a non-material ~$60 million

** YTD, QBE has surged 12.9%, sharply outperforming the AXFJ's more modest 3.1% rise

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))