Steve Daghlian
๐ค SpeakerAppearances Over Time
Podcast Appearances
That's $0.30 above what it paid a year earlier.
Profits up around 30% as well.
So that's about $500 million above what the market was broadly expecting.
Now, the key driver...
was its largest division.
That's the commodities and global markets division.
Two things that happened there that seemed to boost things.
One was the fact that it sold an on-stream meters platform, which basically tracks electricity and gas meters on behalf of energy providers.
And secondly, the war in the Middle East has meant that quite a few businesses are hedging more, so trying to protect themselves from the volatility we're seeing in energy markets.
QBE in focus as well today.
It is under pressure with most of the market, but it's actually outperforming some of its insurance peers.
So, it's down about 1.6%.
The likes of Suncorp is down about 2.3% and IAG is falling by more than 3%.
QBE coming out with an update basically saying that there's been an 11% lift in premiums for its insurance products.
It said that investment income is also running ahead of what the market was expecting.
Higher rates generally helpful as far as what they bring back.
And also the catastrophe costs have largely been within its limits as well.
down 35% this week, rough one.
So, let's look forward because there are still quite a few things that we should be on the lookout for in the week ahead.