Sydney, March 5, 2026, 17:38 AEDT
QBE Insurance Group Ltd said three shareholder resolutions have been put forward for its May 8 annual general meeting. The proposals push for more detail on climate risk and ask the board to review how it governs underwriting for new and expansionary oil and gas projects. One resolution seeks a change to QBE’s constitution to permit advisory shareholder resolutions. Another asks for QBE to spell out how much of its gross written premium — that’s before reinsurance — could require withdrawal, reduced exposure, or higher prices as climate risks mount, plus climate-scenario disclosures. The board “welcomes this dialogue” and said it will weigh the resolutions before making voting recommendations, but did not identify the shareholders behind the push. 1
Investors are turning up the heat on insurers, demanding clearer details on what coverage will remain as reinsurance costs rise and extreme weather hits harder. Boards, for their part, face questions about how they balance fossil-fuel exposure with future risks, and just how fast they plan to adjust underwriting in areas facing greater threats.
QBE now includes climate-related financial disclosures in its annual report, saying these are in line with the Australian Sustainability Reporting Standard AASB S2. The insurer also says it has re-examined its net-zero goals for both underwriting and investment portfolios. Shareholder resolutions call for deeper reporting detail and tighter governance, specifically around oil and gas underwriting. 2
QBE disclosed in a separate filing that it repurchased 1,257,218 shares on March 4, spending A$26.9 million. That brings total buy-backs since December 12 to about 7.34 million shares, or roughly A$149.3 million. The program, handled via JPMorgan, has a cap set at A$450 million and buys back shares directly on the exchange, according to the filing. 3
QBE’s Andrew Horton converted incentive rights to shares, then offloaded 133,031 shares at prices of $21.56 and $21.61, according to an ASX director interest notice. Horton also moved 132,139 shares off-market to his spouse. The company cited tax requirements related to the vesting as the reason for the sale. 4
QBE posted a statutory net profit after tax of US$2.157 billion for 2025 last month, alongside an improved combined operating ratio at 91.9%—a figure closely watched as a snapshot of how claims and expenses stack up against premiums. The insurer also set a final dividend of 78 Australian cents per share. “Profitability remains attractive across the majority of lines,” Horton remarked at the results. 5
QBE, based in Sydney, handles general insurance and reinsurance. Its business covers North America, International, and Australia Pacific, Reuters data shows. 6
Suncorp and Insurance Australia Group sit alongside QBE as the main players in the ASX-listed general insurance sector. 7
Shareholder votes? Notoriously tough to call. Even with heated debate, the board has the power to shoot down proposals, so policies often stay put. Real shifts tend to follow the next disaster season or changes in reinsurer risk pricing — those factors can easily overshadow any boardroom battles.
