Professional
Added to YB: 2024-07-18
Pitch date: 2024-06-30
QBE.AX [neutral]
QBE Insurance Group Limited
+19.21%
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 16.25
Price Target
N/A
Dividend
3.64%
EV/EBITDA
8.75
P/E
13.16
EV/Sales
0.89
Sector
Insurance
Category
N/A
L1 Capital Catalyst Fund exited position: QBE Insurance Group Limited
QBE.AX: Catalyst Fund top contributor. 45% return vs 12% ASX. Underwriting profits up 30% FY23, 9.7% premium increase. Investment income +70% on higher rates. 100% earnings growth FY23, stable guidance. New CEO Andrew Horton improving consistency. Stronger reserves, reduced volatility exposure. U.S. middle market exit. Recently exited position after thesis played out.
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