QBE reports 6% rise in half year profits
QBE Europe has recorded gross written premium of A$2.67bn for the first six months of 2008. It added the business' combined operating ratio improved to 83.6% (H1 2007: 88.4%) while insurance profit to net earned premium was 24.6% (H1 2007: 22.3%).
Overall as a global group QBE saw its insurance profit increase 6% to A$1.1bn on GWP of $6.6bn (net written premium of $5.1bn) and its insurance profit to net earned premium was 21.8% (2007 H1: 22.2%)
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