QBE Europe posts GWP rise for 2018

QBE European Operations has posted a 4% rise in gross written premium (GWP) in 2018 to £3.27bn.

The insurer also reported an insurance profit of £237m for the year, which is down from the £256m profit it achieved in 2017.

Meanwhile, combined operating ratio for the European business, which includes the UK operations, improved to 94.8% in 2018 (2017: 95.2%).

The provider further detailed that net earned premium had increased by 5% to £2.63bn, while its underwriting result rose by 13% to £137m.