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QBE - QBE Insurance News Story

A$8.54 0.4  4.3%

Last Trade - 7:10am

Large Cap
Market Cap £5.74bn
Enterprise Value £8.08bn
Revenue £11.98bn
Position in Universe 51st / 1837

BRIEF-QBE Insurance updates on outlook

Mon 22nd February, 2016 8:59pm
Feb 23 (Reuters) - QBE Insurance Group Ltd  QBE.AX : 
 * Market release - QBE announces 2015 results  QBE.AX  
 * 2016 target allows for $150 million reduction in operating expenses intended to deliver a 1% improvement in 2016 expense ratio 
 * Developing plans to eliminate further $150 million of costs in 2017-18, thereby improving expense ratio by 2% over the three years to 2018 
 * Expected to result in a total reduction in the group's gross operating expenses of approximately $700 million over the six year period to 2018 
 * Says board has approved a 36% increase in the final dividend to 30 Australian cents per share 
 * Substantial additional cost savings anticipated in 2016 and over the medium term" 
 * Source text for Eikon  ID:nASX2DTdDk  
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