QBE Insurance Group Limited’s
(ASX:QBE) net profit rose 13 per cent to $US760 million in the first half of the 2012 financial year.
The global insurer says the result reflects a fall in claims, premium rate increases and a strong investment performance.
QBE's gross written premium gained 3 per cent to $US9.2 billion and net earned premium gained 9 per cent to $US7.3 billion in the first half of this year.
QBE expects to achieve low single digit growth in gross and net earned premium this year on the back of lower premium on some property portfolios.
The insurer also expects premium growth to benefit from solid premium rate increases, a high retention of customers and acquisitions made in the first half.
QBE has lowered its interim dividend to 40 cents per share.
