The QBE Insurance Group Ltd (ASX: QBE) share price is charging higher, up more than 8% in early afternoon trading.
Investor interest appears to have been piqued by the strong growth reported by the S&P/ASX 200 Index (ASX: XJO) insurance heavyweight in its half year financial results, released this morning.
What’s did the ASX 200 insurance company report?
QBE’s shares are surging after the company reported its adjusted cash profit lifted to US$463 million (AU$625 million) for the first half of the financial year. That’s up from a loss of US$66 million in the prior half year.
Also flipping from a negative to a positive figure was QBE’s underwriting result. This went from a loss of US$189 million in the prior half to a positive US$642 million in H1FY21.
Income hungry investors may also be helping drive the QBE share price higher today.
The company declared an interim dividend of 11 Australian cents per share. That’s up from 4 cents per share in the previous half.
QBE did not provide guidance for the second half of the 2021 financial year.
QBE share price snapshot
Over the past 12 months QBE has gained 24%. That’s right in line with the gains posted by the ASX 200.
Year-to-date, the QBE share price has been a stellar performer, up 46% in 2021.
The post QBE (ASX:QBE) share price leaping 8% higher on results appeared first on The Motley Fool Australia.
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More reading
- Who are the biggest movers on the ASX 300 this Thursday?
- ASX 200 midday update: Telstra, NAB, & QBE results
- QBE (ASX:QBE) share price up 7% after dividend boost
- Why GrainCorp, Myer, QBE, & Telstra shares are storming higher
- QBE (ASX:QBE) share price in focus after delivering strong first half growth
The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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