Australia's QBE, IAG rise after Citi projects most insurers set for solid half-yearly earnings

Steadfast

16/01/2026 24:39

Updates

** Shares of QBE Insurance QBE.AX rise as much as 0.5% to A$19.830, and IAG IAG.AX gains as much as 1.1% to A%7.650

** Citi says most Australian insurers are likely to post strong half-year earnings, picking QBE and IAG as its preferred names

** Brokerage, however, maintains cautious stance on Suncorp SUN.AX

** Citi says it is optimistic about QBE posting strong HY results

** Rates QBE "buy"; says past volatility in QBE's results is now less likely

** Citi sees an 8% growth in gross written premium for IAG in first half; rates stock "buy"

** Citi keeps "buy" rating for Steadfast SDF.AX and nib Holdings NHF.AX, sees firms hitting their FY26 targets

** SDF rises 1%, NHF trades flat

** Brokerage, however, says Suncorp to post "mixed" first-half results, lower interim dividend; rates stock "neutral"

(Reporting by Rajasik Mukherjee in Bengaluru)

((Rajasik.Mukherjee@thomsonreuters.com))