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QBE swings to profit after strategic changes

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Australia-based QBE Insurance Group Ltd.'s after tax profit boomed to $715 million in 2018 compared to a loss of $262 million in 2017, Reuters reported. The profit was driven by higher premium rates, a drop in disaster-related claims and offloading of underperforming units. Gross written premiums grew 3% to $13.7 billion.

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