QBE International improves COR to 90.6%
The insurer’s international division, which includes the UK, posted a 15% increase in gross written premium for the full year 2021.
The GWP and combined operating ratio improved across the board for QBE’s international division in 2021.
The insurer’s annual figures showed the unit achieved GWP of $6.96bn (£5.1bn) for the full year 2021, up 15% on the previous year.
The COR also improved to 90.6% from 91.3%. The insurer cited “better than expected development” in its UK motor division as a contributor to the improvements.
QBE International’s underwriting result soared year-on-year from $174m to $704m.
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