QBE’s premiums up 28%, but logs $260 million cat loss
Posted On: May. 7, 2021 9:31 AM CST
Australian insurer QBE Insurance Group Ltd.’s gross written premium were up 28% year-on-year in the first quarter, driven by a significant rise in crop premiums, Reinsurance News reported. The insurer recorded strong performance in the reported quarter despite a 13% rise in net catastrophe losses to $260 million that surpassed its first quarter allowance of $180 million.