Macquarie upgrades QBE Insurance Group stock to Buy as QBE names Groves CEO

Published on 10/07/2026 at 02:29 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Macquarie rated QBE Insurance Group Buy at A$26.20 on October 2, 2026. QBE Insurance Group stock last at EUR 14.80 on October 6, 2026 after the EUR 14.80 prior close.

QBE, AU000000QBE9, Illustration mit AI erstellt.

QBE Insurance Group (ISIN AU000000QBE9) carried a Macquarie Buy rating and an A$26.20 price target on October 2, 2026, according to Business Insider. QBE also named Jonathan Groves as chief executive officer for Australia Pacific, effective November 1, 2026, as MarketScreener reported on September 22, 2026.

Leadership meets a higher target

Groves will join QBE's Group Executive Committee and report to Group Chief Executive Officer Andrew Horton. He has more than 30 years of insurance experience and spent 13 years at QBE, making the move an internal succession decision rather than an external management reset.

The timing matters because Australia Pacific remains central to QBE's underwriting performance. The division's combined operating ratio rose to 88.20 percent from 86.80 percent in the first half of 2026, although it remained the strongest of QBE's three divisions, according to Insurance Business on September 23, 2026.

Half-year growth faces execution tests

QBE reported first-half 2026 revenue of US$9.64 billion, up 8.30 percent from US$8.90 billion in the first half of 2025. Net income reached US$1.03 billion, an increase of 3.60 percent from US$997.00 million, while earnings per share rose to US$0.69 from US$0.66, according to Simply Wall St.

Revenue missed analyst estimates by 2.60 percent in the first half of 2026, while the profit margin stayed at 11.00 percent. That mix leaves underwriting discipline and expense control as the key operating test for Groves when he takes charge.

QBE stock stays below its high

QBE Insurance Group was trading at AUD 23.97 on the ASX on October 7, 2026, with a market capitalization of AUD 35.8 billion. Its 52-week range was AUD 18.57 to AUD 25.83, placing the price 7.20 percent below the high.

The last indication at Lang & Schwarz was EUR 14.80 on October 6, 2026 at 10:58 p.m. CEST, matching the prior close of EUR 14.80 on October 5, 2026. The further course of trading is shown by the continuously updated real-time quote of QBE Insurance Group stock.