Citi hikes TP for Australia's QBE Insurance, upgrades to 'buy'

QBE Insurance

07/10/2026 20:46

** Analysts at Citi upgrade their rating for QBE Insurance Group Ltd QBE.AX to "buy", increase PT by 10.3% to A$26.70
** Brokerage says QBE's ability to post mid-single-digit volume driven growth in gross written premiums (GWP), along with maintaining margins, help the insurer stand out amongst domestic competitors
** Citi considers QBE Portfolio Solutions (QPS), the insurers vehicle for data-driven underwriting models, vital to the company's growth, saying it presents opportunity for substantial GWP growth
** Citi expects QBE to generate up to $2.5 billion in GWP over the medium term, given its already generating $1.5 billion
** Five of nine analysts rate the stock "buy" or higher, three "hold" and one "sell" or lower; their median PT is A$25.28 – data compiled from LSEG 
** Stock up 20.9% this year, as of last close

 (Reporting by Rudrannsh Mehra in Bengaluru)
 ((Rudrannsh.Mehra@thomsonreuters.com;))