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Australian-based global general insurer and reinsurer with major operations in Australia, North America and Europe.
Australian-based global general insurer and reinsurer with major operations in Australia, North America and Europe.
Collects premiums on commercial insurance, mostly sold to businesses through brokers, and on reinsurance, then invests the premiums, so interest on the investment portfolio can be a large part of profit when rates are high. It has spent years exiting or reshaping weaker lines to rebuild underwriting results.
In one line: Australia's Chubb/Travelers.
Moat: narrow (scale, brand, distribution). Global underwriting scale and diversified geographic book smooths regional catastrophe/claims volatility.
Headquarters: Sydney, Australia · Founded: 1886 · Employees: 13,479
Size QBE Insurance (QBE.AX) is an Australia Financials company (Property/Casualty Insurance) with a market value of $27.7B, the 15th largest of 316 Australia companies the cockpit tracks. Shares closed at A$26.75 on 6 Nov 2026.
Performance Over six months the shares gained 19.4%, against +17.7% for the median peer and +4.1% for the Australia market (cap-weighted) — 9th highest of 19 in its peer set.
Growth Revenue grew 3.4% over the last twelve months (peer median +1.9%); the operating margin is 12.6% (peer median 15.0%).
Valuation It trades at 2.37× book value against a peer median of 1.96× (9th most expensive of 19).
Price implies The share price implies a return on equity of about 11.3%; QBE Insurance delivers 19.1%, so the price asks less than the business earns today.
Credit QBE Insurance has 5 bonds outstanding ($2.05B), rated BBB+ by the agencies.
Next results Next results expected around 19 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | A$37.2B | A$37.4B | A$34.6B | A$32.6B | A$29.8B |
| Revenue growth | — | +8% | +6% | +10% | — |
| Net income | A$3.20B | A$3.35B | A$2.70B | A$2.04B | A$847M |
| Free cash flow | A$5.12B | A$6.52B | A$3.86B | A$2.23B | A$4.04B |
| Capital expenditure | A$233M | A$209M | A$230M | A$253M | A$238M |
| Total debt | n/a | A$5.89B | A$4.68B | A$4.52B | A$4.49B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| QBE Insurance QBE.AX | $27.7B | +19% | +3% | 19% | 2.37× | 11.3% |
| Insurance Australia IAG.AX | $14.4B | +17% | +9% | 14% | 2.87× | 13.1% |
| Suncorp SUN.AX | $14.9B | +21% | -3% | 10% | 2.08× | 11.7% |
| Chubb CB | $139B | +15% | +6% | 15% | 1.91× | 9.4% |
| American International AIG | $40.7B | +2% | +1% | 8% | 1.04× | 7.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | QBE.AX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.8% | +9.6% | 9th highest of 19 |
| 6-month return | +19.4% | +17.7% | 9th highest of 19 |
| Return on equity | 19.1% | 16.5% | 7th highest of 19 |
| Price / book | 2.37× | 1.96× | 9th most expensive of 19 |
| Trailing P/E | 12.7× | 12.6× | 9th most expensive of 18 |
| ROE the price implies | 11.3% | 10.5% | 9th most demanding of 19 |
| ROE delivered | 19.1% | 16.5% | 7th highest of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| QBE Insurance QBE.AX | Australia | $27.7B | +19% | +3% | 19% | 2.37× | 11.3% | 19.1% |
| Sampo SAMPO.HE | Finland | $29.1B | +10% | +2% | 16% | 3.60× | 11.3% | 16.5% |
| Markel MKL | United States | $23.7B | +7% | -1% | 10% | 1.28× | 9.2% | 9.6% |
| Loews L | United States | $22.2B | +5% | +3% | 8% | 1.22× | 8.3% | 8.1% |
| Hartford (The) HIG | United States | $35.8B | +1% | +4% | 23% | 1.94× | 11.3% | 22.7% |
| Fairfax Financial FFH.TO | Canada | $42.7B | +21% | -1% | 16% | 1.40× | 7.0% | 15.8% |
| SamsungF&MIns 000810.KS | South Korea | $17.2B | +31% | +5% | 8% | 0.71× | 4.8% | 8.1% |
| Admiral ADM.L | United Kingdom | $16.1B | +23% | 0% | 46% | 8.04× | 33.5% | 45.6% |
| PICC Property & Casualty 2328.HK | Hong Kong | $48.9B | +16% | +9% | 17% | 1.09× | 5.8% | 16.5% |
| Everest EG | United States | $15.2B | +18% | -9% | 13% | 1.08× | 6.6% | 12.8% |
| Assurant AIZ | United States | $15.1B | +29% | +9% | 44% | 2.60× | 14.6% | 44.2% |
| Insurance Australia IAG.AX | Australia | $14.4B | +17% | +9% | 14% | 2.87× | 13.1% | 14.0% |
| RenaissanceRe RNR | United States | $14.0B | +16% | -21% | 13% | 1.34× | 7.5% | 13.4% |
| American Financial AFG | United States | $12.8B | +18% | +3% | 18% | 2.67× | 15.1% | n/a |
| Erie Indemnity ERIE | United States | $12.7B | +26% | +2% | 24% | 4.98× | 19.7% | 23.7% |
| Travelers Companies (The) TRV | United States | $81.0B | +33% | +1% | 28% | 2.79× | 13.9% | 27.5% |
| Hanover Insurance THG | United States | $8.35B | +28% | +5% | 22% | 2.43× | 11.2% | 21.8% |
| Tokio Marine 8766.T | Japan | $105B | +35% | 0% | 12% | 1.98× | 6.7% | 11.8% |
| Scor SCR.PA | France | $6.96B | +10% | -4% | 19% | 1.44× | 9.8% | 18.8% |
QBE Insurance has 5 bonds outstanding with $2.05B face value. The agencies rate it BBB+.