Professional
Added to YB: 2024-05-15
Pitch date: 2024-03-31
QBE.AX [bullish]
QBE Insurance Group Limited
+15.26%
current return
Author Info
No bio for this author
Company Info
QBE Insurance Group Limited engages in underwriting general insurance and reinsurance risks in the Australia Pacific, North America, and internationally.
Market Cap
AUD 17.2B
Pitch Price
AUD 16.80
Price Target
N/A
Dividend
3.64%
EV/EBITDA
8.75
P/E
13.16
EV/Sales
0.89
Sector
Insurance
Category
turnaround
L1 Capital Long Short Fund Portfolio Holding: QBE Insurance Group Limited
QBE.AX: FY23 earnings doubled, in line with guidance. Well-positioned to beat expectations on conservative guidance & estimates despite higher quality biz. Weather claims budget increased, high-risk portfolio divested. Turning point after 15yr headwinds, stronger margins, dividends & ROE expected. +100% since 2021, still only 10x FY24 P/E vs 13x pre-COVID avg.
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