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QBE shares rebound 35% to fresh multi-year high: Buy, sell or hold?

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A young woman with her mouth open and her hands out showing surprise and delight.

QBE Insurance Group Ltd (ASX: QBE) shares have climbed higher into the green in Thursday morning trade.

At the time of writing, the shares are up around 0.5% and changing hands at $25.49 a piece. At one point this morning, the shares were as high as $25.52.

The current trading price is the highest level seen since early 2009.

QBE shares had a slow start to the year after dropping to a low of $18.83 in December. The shares have rebounded 35% from that dip and are now up around 29% for the year to date and 12% higher than this time last year.

What has driven the QBE share price rebound in 2026?

QBE shares have rebounded off the back of support from stronger insurance earnings and higher premiums.

In May, the company posted its first-quarter FY26 update. It revealed an 11% year-on-year increase in gross written premium (GWP), or 7% on a constant currency basis. 

The insurer also reported total funds under management of $36.1 billion at the end of the quarter.

QBE maintained its FY26 outlook, pointing to mid-single-digit gross written premium growth and a group combined operating ratio of around 92.5%.

Then, just yesterday, the company announced a senior leadership change. In a statement to the ASX, QBE said Sue Houghton will step down from her role as Chief Executive Officer for Australia Pacific at the end of 2026. The move hasn’t seemed to spook investors, and the company’s share price has continued rallying higher.

Are the shares a buy, sell, or hold now?

The experts are divided about the outlook for QBE shares over the next 12 months.

Market Index data shows that around half of brokers have a buy rating on the shares. But the $23.35 average target price currently implies a potential 8% downside ahead.

Sentiment is a little more bullish on TradingView data. Out of 11 analysts, six have a buy or strong buy rating on the shares. Another two rate QBE as a hold, and three have a sell stance.

But the average $24.52 target price also implies a 4% downside at the time of writing, likely due to the latest share price rally.

Some are more optimistic, though, and think QBE shares have the potential to climb another 9% to $27.62 a piece.

Investment firm Market Partners is positive on the outlook for QBE shares and sees an emerging turnaround story ahead. It recently noted that QBE has been working hard to simplify its business over the past 5 to 10 years, including a number of acquisitions, and it’s now paying off. 

The post QBE shares rebound 35% to fresh multi-year high: Buy, sell or hold? appeared first on The Motley Fool Australia.

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Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. 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 Scott Phillips.

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