QBE Insurance net profit rises 30% in HY17

Company News

by Jessica Amir

QBE Insurance Group (ASX:QBE) has reported its net profit attributable to shareholders surged 30 per cent $345 million, in the half year to 30 June 2017.

The global insurer’s revenue from ordinary activities firmed 5 per cent higher to $8.3 billion over the six months.

The stronger revenue and profits came on the back of a rise in its gross and net earned premiums.

The company says it plans to activate its $1 billion 3-year cumulative on-market, share buyback program in the second half of 2017.

QBE declared an interim dividend of 22 cents per share, 30 per cent franked.

Shares in QBE Insurance Group (ASX:QBE) last traded about 1.9 per cent higher yesterday to $12.02
 

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