• Delivered strong financial performance, exceeding 2025 plan
• Focused on disciplined execution of strategic priorities
• Committed to sustainable growth and consistent returns

QBE Insurance Group delivered strong performance in 2025, exceeding its financial plan for the year. The results reflect continued execution of the company's strategy and a sustained focus on building a high-quality, consistent business. Despite heightened global complexity, including geopolitical tensions, ongoing tariff regimes, and major loss events, QBE remained committed to its long-term strategy, underwriting discipline, and sustaining strong performance. The Group's combined operating ratio improved to 91.9% from 93.1% in the prior year, supported by catastrophe costs below allowance. Gross written premium increased by 7%, or 8% adjusting for recent portfolio exits, reflecting continued organic growth in targeted lines. Investment returns remained robust, with total investment income of $1.6 billion or a return of 4.9%. The strong underwriting and investment performance generated significant value for shareholders, with a Group adjusted return on equity of 19.8%, the highest in over a decade. This supported a 22 Australian cents increase in the 2025 dividend per share to 109 Australian cents relative to the prior year. QBE also announced a A$450 million share buyback in 2025, bringing total shareholder distributions to around 65% of annual profits.

The company expects to deliver mid-single-digit volume growth in 2026, with premium rate adequacy remaining supportive in most lines.

QBE remains committed to its long-term strategy, underwriting discipline, and sustaining strong performance. The company is focused on actively managing its portfolio mix to reduce volatility and delivering consistent returns to shareholders.