QBE Insurance Group, which will be officially releasing its first half financial results in August, has published its expected numbers – and the forecast isn’t rosy. In a July 22 update, the Sydney-headquartered global insurer said it expects a net statutory loss after tax of approximately $750 million for the period.
According to QBE, the preliminary figure largely reflects the impact of the coronavirus pandemic, catastrophe experience and prior accident year claims development, as well as a $125 million net investment loss due to extreme investment market volatility.
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