QBE Insurance Group (QBE) has reported adjusted net profit after tax of US$1,033 million for the half year ended June 30 2026, up from US$997 million in the prior corresponding period, with return on equity (ROE) of 17.7%, comfortably ahead of its medium-term target of 15%+, according to the company's half-year results announcement.
"QBE has entered its 140th year with good momentum, supported by a strong balance sheet, a clear strategy and disciplined execution," group CEO Andrew Horton (pictured) said in the company's half-year investor report, marking 140 years since the insurer's founding in 1886.
For brokers across the Asia-Pacific region, the standout signal is the launch of a new primary insurance offering in Bermuda, which QBE described as "the next phase in building long-term capability" in one of the world's most established markets for large corporate risk. That development is directly relevant to brokers placing complex specialty and reinsurance business through Bermuda and London market channels, potentially widening the carrier options available for hard-to-place regional risks.
Group-wide, average renewal premium rate increases fell to just 0.3% for the half, down sharply from 2.1% a year earlier, with property and select Lloyd's portfolios softening the most. QBE's International division, which carries much of its Asia-facing business, reported an improved combined operating ratio of 91.6%, aided by growth in QBE Re and Portfolio Solutions. For brokers, that combination of softening rates and improving underwriting margins suggests carriers have room to compete on price and terms - useful leverage heading into renewal season for clients in competitive lines.
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QBE said it had progressed AI-enabled algorithmic underwriting for certain complex specialty risks, reducing quote-to-bind times - a development that could translate into faster turnaround for brokers submitting specialty business. On capital, QBE's Prescribed Capital Amount (PCA) multiple stood at 1.82 times, and the group flagged a reinsurance transaction to de-risk US$1.6 billion of long-tail reserves, both signals of an insurer positioning for sustained capacity rather than retrenchment. Brokers working with regional regulators such as the Monetary Authority of Singapore and Hong Kong's Insurance Authority will want to track how this capacity plays out through the remainder of 2026.
