QBE delivers 23 per cent profit jump to $3bn despite wildfire payouts
Profits at multinational insurance giant QBE have surged 23 per cent in 2025, beating market expectations and lifting the company’s share price.
Profits at multinational insurance giant QBE have surged 23 per cent to more than $3bn in 2025.
Posting full-year results on Friday, QBE says premium hikes delivered the strongest results in its international and North American divisions, while its Australian business remained relatively flat.
Shareholders will be paid a $0.78 final dividend, up from $0.63.
Sign up to The Nightly's newsletters.
Get the first look at the digital newspaper, curated daily stories and breaking headlines delivered to your inbox.
By continuing you agree to our Terms and Privacy Policy.“In a year marked by significant catastrophes, I am heartened by the care and professionalism our people demonstrate in these critical moments,” chairman Mike Wilkins said.
Payouts for the California wildfires in January and Hurricane Melissa in the Caribbean in October dominated the company’s yearly activity.
“Costs for the period were driven by the Californian wildfires and Hurricane Melissa, plus a number of eastern storm and flood events in Australia, including Cyclone Alfred,” QBE says in the results.
“Exposure to these events was notably lower than historic experience, given recent portfolio exits and portfolio optimisation initiatives.”
The financial results beat market expectations, with the share price lifting more than 6 per cent before midday.
Citi analyst Nigel Pittaway noted that core earnings per share exceeded expectations, driven by higher gross written premiums, favourable catastrophe claims, and investment income but partially offset by commissions and expenses.
“This is a strong result from QBE with both reported combined operating ratio and gross written premium growth better than market expectations, while investment earnings were also higher than expected,” Mr Pittaway said.
