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

$23.17

23 May
2025

0.060

OPEN

$23.12

0.26%

HIGH

$23.57

2,366,738

LOW

$23.07

TARGET
$23.731 2.4% upside
Franking for last dividend paid out: 20%
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) 179.4 xxx
DPS (cps) 89.8 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 12.9 xxx
Dividend Yield 3.9% xxx
Div Pay Ratio(%) 50.1% 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: 7.11%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.75

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

0.7

No. Of Recommendations

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

Morgans

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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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

12/05/2025

1

Buy

$24.65

6.39%

UBS notes QBE Insurance made a strong start to FY25 with a 9% increase in gross written premium (GWP) growth on a constant currency basis. GWP growth was highest in international business at 11%, followed by North America at 10% (excluding crop).

Premium rate, however, slowed sequentially to 3.4% in 1Q from 3.9%, with softening seen mainly in RI/Lloyds.

The company reaffirmed FY25 GWP growth guidance of 5% and combined operation ratio expectation of 92.5%.

The broker lifted the FY25 GWP growth forecast to 4.9%, resulting in a 1.2% increase to the GWP estimate. This, together with stronger investment income and lower debt cost, pushed up the EPS forecast for FY25 by 1.2% and FY26 by 1.9%.

Buy. Target rises to $24.65 from $24.50.

FORECAST
UBS forecasts a full year FY25 dividend of 96.00 cents and EPS of 177.11 cents.
UBS forecasts a full year FY26 dividend of 101.00 cents and EPS of 187.90 cents.

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

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

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

Goldman Sachs

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Jarden

15/05/2025

1

Buy

$24.60

6.17%

Jarden notes QBE Insurance's 1Q25 update revealed strong volume growth, suggesting revenue momentum can be sustained at mid-to-high single-digit levels.

The broker sees headwinds for gross written premium growth in the Asia-Pacific region, but upgraded the FY25 forecast to 5.6% from 5.1% on a positive outlook for international and North America.

Despite seeing risks to FY25 catastrophe costs after 77% of the budget was spent in only four months, the broker lowered the combined operating ratio estimate to 92.5% from 92.6% on crop pricing and discount unwind benefits.

Buy. Target rises to $24.60 from $24.10.

FORECAST
Jarden forecasts a full year FY25 dividend of 93.00 cents and EPS of 178.35 cents.
Jarden forecasts a full year FY26 dividend of 103.00 cents and EPS of 199.45 cents.
Access Extra Coverage Research History >

QBE STOCK CHART

FNArena News on QBE

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May 22 2025 - Rudi's View
2
Rudi’s View: 30 For ’30 & Best Buy Convictions

May 15 2025 - Rudi's View
3
Australian Broker Call *Extra* Edition – May 15, 2025

May 15 2025 - Daily Market Reports
4
Australian Broker Call *Extra* Edition – May 05, 2025

May 05 2025 - Daily Market Reports
5
Next Week At A Glance – 5-9 May 2025

May 02 2025 - Weekly Reports

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