QBE Insurance Group
(ASX:QBE) has announced a 7 percent fall in net profit to US$687 million for the year through December 2015.
The company said its net profit was up 7 percent on a constant currency basis.
Cash profit after tax – which the insurer said drives its dividend payments – was up 21 percent on a constant currency basis.
Chief executive John Neal said it was noteworthy the results were produced in the face of a number of headwinds, including challenging insurance pricing and investment markets, a significantly stronger US dollar and continued low interest rates.
QBE will pay a final dividend of 30 cents.
