QBE Insurance Group stock reports higher 2026 profit

QBE Insurance Group stock stood at AUD 22.92 on the ASX on September 24, 2026, down 0.39 percent from the previous session. The insurer's adjusted first-half 2026 net profit reached USD 1.033 billion, compared with USD 997 million in the prior period.

Leadership change adds a near-term test

QBE named Jonathan Groves as chief executive of its Australia Pacific division effective November 1, 2026. As Insurance Business reported on September 23, 2026, Groves will join the group executive committee and report to CEO Andrew Horton.

The appointment matters because Australia Pacific is described as QBE's strongest-performing underwriting business. The leadership handover therefore places execution and underwriting discipline alongside the half-year earnings story.

Profit grows while returns stay high

QBE's adjusted return on equity was 17.7 percent in the six months ended June 30, 2026, exceeding the company's medium-term goal of above 15 percent. Gross written premiums reached USD 15.137 billion, representing 6 percent constant-currency growth, according to Kapitales Research on September 8, 2026.

The earnings mix is important for investors. Higher profit and premium growth came with an expense ratio of 12.4 percent, up from 12.1 percent, while the combined loss and expense ratio was 92.8 percent. That comparison points to a profitable underwriting platform, but also to cost pressure that management must contain.

Stock remains below its yearly high

QBE stock's ASX price of AUD 22.92 on September 24, 2026, was AUD 2.91 below its 52-week high of AUD 25.83 and AUD 4.35 above its 52-week low of AUD 18.57. The market capitalization was AUD 34,242,938,514 on the same date.

The price performance gives the leadership change a clear market setting. QBE combines a 17.7 percent return on equity with 6 percent premium growth, while the share price remains below the yearly high and the daily move was negative.