QBE erodes 90% of H1 cat allowance in Q1 with $480mn in net cat claims

12 May 2023

QBE has posted around $480mn in net catastrophe claims for Q1 in what it called an "elevated" period of cat activity that included Cyclone Gabrielle and North Island flooding in New Zealand, and storms in North America and Australia.

The number amounted to 90% of its H1 2023 cat allowance of $535mn and 41% of its full-year allowance of $1,175mn.

QBE

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