QBE INSURANCE GROUP LIMITED (QBE)
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QBE

QBE - QBE INSURANCE GROUP LIMITED

FNArena Sector : Insurance
Year End: December
GICS Industry Group : Insurance
Debt/EBITDA: N/A
Index: ASX20 | ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

QBE Insurance Group is an Australian insurance company operating in North America, Europe, Australia & New Zealand and the Asia Pacific region. It was listed in 1973 following the merger of three companies whose names represent the letters of the combined company.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$21.60

15 Aug
2025

0.290

OPEN

$21.28

1.36%

HIGH

$21.60

4,847,096

LOW

$21.18

TARGET
$24.709 14.4% upside
Franking for last dividend paid out: 25%
OTHER COMPANIES IN THE SAME SECTOR
AUB . CVW . FCL . GDG . HLI . IAG . MPL . NHF . NOL . SDF . SUN . TWR .
FNARENA'S MARKET CONSENSUS FORECASTS
QBE: 1
Title FY25
Forecast		 FY26
Forecast
EPS (cps) 195.1 xxx
DPS (cps) 93.5 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 11.1 xxx
Dividend Yield 4.3% xxx
Div Pay Ratio(%) 47.9% xxx
This company reports in USD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: 7.22%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.02

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 16/08 - ex-div 24c (franking 20%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx174.6
DPS All xxxxxxxxxxxxxxx87.0
Sales/Revenue xxxxxxxxxxxxxxx34,596.8 M
Book Value Per Share xxxxxxxxxxxxxxx1,151.3
Net Operating Cash Flow xxxxxxxxxxxxxxx3,903.9 M
Net Profit Margin xxxxxxxxxxxxxxx7.80 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx16.43 %
Return on Invested Capital xxxxxxxxxxxxxxx13.68 %
Return on Assets xxxxxxxxxxxxxxx3.99 %
Return on Equity xxxxxxxxxxxxxxx16.90 %
Return on Total Capital xxxxxxxxxxxxxxx19.50 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx2,841.1 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx570 M
Long Term Debt xxxxxxxxxxxxxxx4,106 M
Total Debt xxxxxxxxxxxxxxx4,676 M
Goodwill - Gross xxxxxxxxxxxxxxx2,374 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx2,646 M
Price To Book Value xxxxxxxxxxxxxxx1.67

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx230.4 M
Capex % of Sales xxxxxxxxxxxxxxx0.67 %
Cost of Goods Sold xxxxxxxxxxxxxxx-
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx2,213 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx47,252 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.5

No. Of Recommendations

7
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Citi

11/08/2025

1

Buy

$26.20

21.30%

Citi views the market’s negative reaction to QBE Insurance's 1H25 result as excessive.

Concerns were focused on slower 2Q rate growth, an underlying combined operating ratio (COR) of 94.6% versus 92.5% guidance, and softer 2H gross written premium (GWP) growth expectations, observes the broker.

The analysts believe these concerns overlook potentially conservative reserving practices, a deliberately cautious 1H approach, and ongoing profitable growth opportunities in a mostly rational market.

QBE’s reserving is the strongest it has been, notes Citi, with longer release lags possibly enabling future prior year development (PYD) benefits.

CAT allowances also appear conservative, suggesting scope for favourable outcomes despite recent high global CAT activity.

Large losses of about -US$100m were likely above average and may not recur, suggests Citi. The broker's EPS forecasts increase by 5% and the target price rises to $26.20 from $26.10. Buy maintained.

FORECAST
Citi forecasts a full year FY25 dividend of 102.88 cents and EPS of 195.85 cents.
Citi forecasts a full year FY26 dividend of 107.98 cents and EPS of 193.53 cents.

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

13/08/2025

1

Buy

$23.90

10.65%

Jarden considers QBE Insurance to have reported a robust beat for 1H2025 results, with guidance re-confirmed. The result was marred by the degree of rate declines but was offset by expectations of ex-CAT improvements going forward.

More reserve releases are anticipated, as CAT outperformance allows the insurer to unwind conservative allowances.

Management continues to reposition toward a more favourable margin-volume trade-off, moving back from competitive markets like AusPac commercial.

The analyst lifts EPS estimates by 6.8% for 2025 and lowers 2026 by -4.5%.

QBE remains the broker's top pick in the insurance sector, with Buy rating retained. Target falls to $23.90 from $25.40.

FORECAST
Jarden forecasts a full year FY25 dividend of 98.00 cents and EPS of 199.72 cents.
Jarden forecasts a full year FY26 dividend of 97.00 cents and EPS of 190.44 cents.
Access Extra Coverage Research History >

QBE STOCK CHART

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