QBE: Shrinking upside

QBE has announced it will probably lose another US$900m in premiums. Nathan Bell explains why we’re finally losing patience.

Good insurers distinguish themselves by letting premium revenue shrink when the risks outweigh the potential profits. As premiums increase, quality insurers wade back in to the market at the expense of weak insurers drowning in claims. By this reasoning QBE Insurance’s latest move to potentially offload around US$900m of premiums from its ‘middle market’ business in the US is a good one.

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