Sydney, June 18, 2026, 06:08 (AEST)
- QBE Insurance closed at A$23.57, adding 0.43%. That was before Thursday’s regular trading on the ASX. Intelligent Investor
- Insurer put out another “EUR Subordinated Notes – Cleansing Notice” on Wednesday as part of its euro subordinated notes process. Australian Securities Exchange
- QBE left its FY26 targets unchanged, sticking with mid-single-digit gross written premium growth and a combined operating ratio near 92.5%.
QBE Insurance Group Limited shares finished up in Sydney, climbing 10 cents to A$23.57, a gain of 0.43%. Investors shrugged off a standard capital-market filing. The stock stays just below recent highs ahead of the ASX’s next open later Thursday. Google
QBE is holding close to the top of its range after trading up about 3.1% from a week ago, but shares are still 2.9% off the 52-week high of A$24.28 hit on June 11. That’s based on data from Intelligent Investor. Intelligent Investor
Australian stocks lent some support to QBE. The S&P/ASX 200 put on 0.54% to finish at 8,966.30 Wednesday, and the All Ordinaries gained 0.60%. The gains came as oil prices slid and global risk appetite firmed, pulling the market higher. Still, UBS strategist Richard Schellbach said the rally in the ASX 200 might not last if choppy oil or local inflation keep pressure on rates. News
QBE released a cleansing notice Wednesday morning, according to Market Index, which posted the filing at 8:54 a.m. AEST. The company had flagged plans for euro fixed-rate resetting subordinated notes as part of its funding and capital management, saying proceeds would support Tier 2 capital. The cleansing notice allows for secondary trading of certain securities without a new prospectus. Market Index
QBE’s €500 million subordinated notes got a BBB+ rating from S&P Global Ratings. S&P said the notes count as regulatory Tier 2 capital under the Australian Prudential Regulation Authority rules. Fitch also gave the EUR500 million Tier 2 notes a BBB+ and said the reset rate is the five-year euro mid-swap rate plus 1.35%. Tier 2 capital is debt-like funding regulators let insurers use as part of their loss-absorbing capital buffer. S&P Global
QBE’s capital update follows its May announcement of an 11% lift in first-quarter gross written premium from the same period last year, or up 7% when stripping out currency moves. CEO Andrew Horton told shareholders then that QBE was “tracking to plan” and keeping “strong premium growth.”
Peers traded higher too, suggesting buying across the sector instead of just at QBE. Insurance Australia Group last traded at A$7.99, up 1.65%. Suncorp Group was at A$18.63, up 1.53%, Google Finance data showed. Google
QBE is still posting strong earnings. Back in February, it said FY25 statutory net profit after tax came in at US$2.16 billion, up from US$1.78 billion. The combined operating ratio fell to 91.9% from 93.1%. A ratio under 100% signals the insurer made an underwriting profit before investment income. Horton at the time said QBE had “exceeded our financial plan” and that the outlook for this year was constructive.
But there are still real risks. QBE reported about US$300 million in catastrophe claims for the four months to April, out of a US$517 million allowance for the first half. The insurer also pointed to tough competition in commercial property and at Lloyd’s. More storms, lower prices, or another round of investment-market strain could push back on the FY26 goal for a combined operating ratio near 92.5%.
