“Strong momentum” in UK commercial at QBE as international business rises in 2023
QBE has reported a 17% rise in net insurance revenue and gross written premiums for international business in 2023.
Gross written premiums for the division, which includes the UK commercial business as well as its Lloyd’s franchise, European commercial, QBE Re and Asian operations, hit $8.8bn (£6.97bn).
Average renewal premiums were up 7.8%, QBE noted.
Net insurance revenue for the unit came in at $6.92bn.
We have successfully increased capabilities and market presence beyond our traditional strengths in commercial motor and financial lines.QBE
The international segment’s combined operating ratio improved to 89.5
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