Underwriting revenue stood at $1.14 billion, additionally a restoration from the prior 12 months’s $869 million underwriting loss. Gross written premium in 2021 noticed a 22% enhance to $18.46 billion.
“I’m happy with the robust premium development and important uplift in underwriting margin,” commented group chief government Andrew Horton. “The robust outcome was achieved regardless of the heightened stage of catastrophes in the course of the 12 months which stay a serious situation for the business.
“In concentrating on ongoing premium development, we are going to stay vigilant in pricing adequately for an applicable risk-adjusted return on capital, with claims inflation, disaster prices, and total portfolio volatility key areas of ongoing focus.”
In the meantime QBE – which final month unveiled six strategic priorities as a part of the corporate’s new imaginative and prescient and function – additionally introduced a last dividend of AU19¢ per share.
Horton declared: “Upon becoming a member of QBE 5 months in the past, I instantly acknowledged that I had joined a corporation with nice potential. My overarching ambition is to determine QBE as a persistently excessive performing enterprise that’s each culturally and operationally united, with a transparent strategic path.
“Our new function, imaginative and prescient, and strategic priorities will information our strategic plan, constructing on the momentum evident in our FY21 monetary outcome as we search to additional strengthen and develop our enterprise for the long run.”