QBE International underwriting result for 2022 impacted by inflation reserve boost

17 February 2023

QBE International posted a 1.9-point deterioration to its combined ratio performance for 2022, which it said reflected elevated cat activity and prior-year development that included the impact of an adverse Covid-19 judgment.

It also boosted reserves in long-tail classes due to higher inflation assumptions.

The segment’s combined ratio reached 92.5%, with the cat claims making up 0.8

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