• Delivered strong financial performance in 2024 with improved resilience and consistency
• Executed well against strategic priorities, including sustainable growth and portfolio optimisation
• Focused on supporting customers, communities and people through innovation and modernisation

QBE Insurance Group Ltd delivered a strong financial performance in 2024, with improved resilience and consistency across the business. The company beat its plan for the year, with a combined operating ratio of 93.1% and a Group adjusted return on equity of 18.2%. QBE made meaningful progress against its strategic priorities, including sustainable growth, portfolio optimisation, and modernising the business. The company paid out $12,766 million in claims globally, helping customers recover when they need it most. QBE also focused on supporting its customers, communities and people through initiatives like the launch of a new globally consistent cyber policy and the rollout of underwriting AI Co-pilots. The company is excited about the breadth of opportunities it has to grow the business over the medium term, with a forecast of mid-single digit constant currency gross written premium growth and a Group combined operating ratio of around 92.5% for 2025.

QBE forecasts constant currency gross written premium growth in the mid-single digits for 2025, and a Group combined operating ratio of around 92.5%.

QBE is particularly excited about the breadth of opportunities it has to grow the business over the medium term, in what are expected to remain supportive markets.