QBE maintains rating status despite profit warning

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Fitch stated that the outlook was stable for the group and its subsidiaries in reaffirming the group's long-term issuer default rating of A. It also highlighted that QBE Insurance (Europe) had an insurer financial strength of A+.

Similarly, AM Best gave a financial strength rating of A (excellent) and issuer credit rating of A+ for QBE Insurance (Europe).

In a statement AM Best noted that higher than expected catastrophe losses in the second half of the yea,r combined with a volatile investment

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