QBE highlights broker commission issue
Insurer saw a 58% drop in insurance profit for the first six months of the year to $81m.
QBE Europe said, following the release of its half year results today, that it had made "considerable effort" to try and resist growing demands from brokers for more commission.
Results
The insurer saw a 58% slump in insurance profit for the first six months of the year, reaching $81m [£62.17m] from $197m at the start of last year.
Gross written premium also fell 6% to $2.51bn in the period, along with a combined operating ratio of 88.3% (H1 2015: 88%).
The firm blamed the uncertainty of Brexit
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