• Solid returns with ROE of 17.7%
• Adjusted EPS growth of 4% in USD, interim DPS growth of 6% in AUD
• GWP grew 6% on a constant currency basis

QBE Insurance Group Ltd reported solid half-year results for 2026, with a return on equity (ROE) of 17.7%, adjusted earnings per share (EPS) growth of 4% in USD, and gross written premium (GWP) growth of 6% on a constant currency basis. The company's combined operating ratio stood at 92.8%, consistent with its full-year outlook of around 92.5%. QBE's disciplined underwriting and focus on portfolio optimization have supported its performance. The company also completed a A$450 million on-market share buyback, reflecting its strong balance sheet and commitment to disciplined capital management. QBE remains on track to deliver its full-year outlook, with expectations of mid-single-digit constant currency GWP growth and a 15%+ adjusted ROE over the medium term.

Full year 2026 ~92.5% Combined operating ratio, Mid-single-digit Gross written premium growth

QBE expects a Group combined operating ratio of ~92.5% for 2026, with constant currency gross written premium growth in the mid-single digits. Over the medium term, the company expects a continuation of sustainable growth and a 15%+ adjusted return on equity.