QBE Insurance Raises Dividend, Posts $400 Million 1st Half Net Profit
Provided by
Dow Jones
By Stuart Condie
SYDNEY--QBE Insurance lifted its interim dividend after reporting a first-half net profit of $400 million.
The Australian insurer said Thursday net profit for the six months through June 30 rose from a restated $48 million a year earlier. Gross written premium rose 11% to $12.80 billion and net insurance revenue rose 8.9% to $7.98 billion.
On an adjusted basis, net cash profit rose to $405 million from $66 million.
The board declared a dividend of 14 Australian cents (9.1 U.S. cents) per share, compared with 9.0 Australian cents a year earlier.
Write to Stuart Condie at stuart.condie@wsj.com
(END) Dow Jones Newswires
August 09, 2023 18:50 ET (22:50 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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