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Figure 1: QBE 12 month chart


Australia’s largest listed insurance company, QBE Insurance (QBE), announced a worse than expected 1H13 (Jan-June 2013) net profit of $477m.

The result was held back by lower investment returns & a fall in earnings across 4 of its 6 markets.

Cyclone Oswald, which made its way through QLD & NSW in Jan cost QBE US$72m (biggest natural disaster expense of 1H13).

The recent strengthening of the US dollar & a rise in bond yields is a positive for QBE, as close to 20% of its investments are held in govt. bonds.

A $0.20ps dividend was announced, payable to eligible shareholders on 23 Sept.


You can see all of CommSec’s reporting season analysis by clicking here.

Steven Daghlian, Market Analyst,