• Revenue from ordinary activities increased by 10% to $11,953 million
• Profit from ordinary activities after income tax rose by 1%
• Gross written premium grew by 10% to $15,137 million
• Net profit for the period increased by 1% to $1,033 million
• Effective tax rate increased to 24.9% from 23.1% in the prior period

QBE Insurance Group Limited announced its financial results for the half year ended 30 June 2026. The company reported a statutory profit after tax attributable to ordinary equity holders of $1,033 million, up 1% from $1,022 million in the prior period. Revenue from ordinary activities increased by 10% to $11,953 million. The Group's insurance operating result was $691 million, representing an 8% increase from the prior period. Gross written premium grew by 10% to $15,137 million, underpinned by targeted ex-rate growth across International and North America. Catastrophe costs were below allowance, and included modest impacts associated with the Middle East conflict. The result also included favourable prior year development following recent initiatives to build resilience and consistency in reserving across the Group. Net investment income was $828 million, or a return of 2.3%, compared with $788 million or 2.4% in the prior period. The Group's effective tax rate increased to 24.9% from 23.1% in the prior period, primarily reflecting a higher contribution to Group earnings from International and Australia Pacific, which operate at higher average tax rates compared to North America.

Revenue from ordinary activities: $11,953 million, Profit after income tax: $1,033 million

QBE expects to continue to build resilience and consistency in reserving across the Group, which will help to offset the impact of ongoing challenges in Accident & Health and large claim activity.