QBE Insurance Group could see 5% revenue growth in 2025

It also has a stable outlook thanks to expectations of continued underwriting discipline.

QBE Insurance Group is forecasted to have about a 5% top-line growth in 2025, backed by ongoing—though moderating—rate increases, S&P Global Ratings said.

Capital adequacy is projected to remain strong, exceeding the 99.99% stress threshold under S&P’s model. 

Furthermore, the insurer will have a stable outlook thanks to expectations of continued underwriting discipline and robust capital adequacy, the credit ratings agency said.

QBE’s efforts to enhance risk selection and reduce portfolio risk have resulted in stronger earnings resilience and improved capital strength. The group reported a net profit of $1.78b in 2024, up from $1.36b in 2023, and a combined ratio of 93.1%, down from 95.2%.

North America showed progress, with its combined ratio improving to 98.9% following the runoff of noncore business and catastrophe exposure reduction. 

Gross written premiums rose 3% to $22.4b, despite drag from strategic exits.