QBE's net profit up nearly 3% in 2022

Australia-based QBE Insurance Group Ltd.'s statutory net profit after tax increased 2.7% year-on-year to $770 million in 2022, with an adjusted combined operating ratio of 93.7%, Asia Insurance Review reported. The insurer's gross written premium increased 13% to $20 billion, supported by group-wide renewal rate increases of 7.9%.