S&P Upgrades QBE’s Credit Ratings on Stronger Underwriting and Capital Strategy
S&P Global Ratings has raised QBE Insurance Group’s long-term issuer credit rating from ‘A-’ to ‘A’, while also upgrading the issuer credit and financial strength ratings of its core operating entities from ‘A+’ to ‘AA-’.
QBE’s Risk Management and Underwriting Discipline Drive Rating Upgrade
S&P attributes this ratings boost to growing confidence in QBE’s earnings stability, citing improvements in underwriting discipline and strategic pricing. The agency also noted that QBE’s capital adequacy has materially improved, a reflection of ongoing efforts to refine risk selection and reduce exposure across its insurance portfolio.
These combined actions have significantly strengthened the company’s overall financial resilience and long-term creditworthiness.
QBE’s Global Diversification Reinforces Market Position
One of the key factors supporting the compnay’s strong business profile is its broad international footprint. The company operates substantial property and casualty (P&C) businesses across Australia, North America, and Europe, contributing to consistent earnings and diversified risk.
In addition, the company’s mortgage insurance operations in Australia and Hong Kong provide a non-correlated revenue stream, helping shield the insurer from broader market fluctuations.
QBE Posts Strong Premium Growth in Early 2025
In the first quarter of 2025, the company reported gross written premiums of $8.3 billion, marking a 7% increase year-over-year. This growth aligns with the company’s improving operational performance and reflects the momentum behind its financial recovery.
S&P Maintains Stable Outlook for QBE
S&P Global Ratings maintains a Stable outlook on QBE’s credit ratings, expecting the insurer to continue benefiting from its strong competitive position and sound underwriting standards, comparable to other highly rated global multiline insurers.
The agency also anticipates that the company will sustain a robust capital buffer, capable of absorbing severe financial shocks.
QBE Leadership Responds to Historic Ratings Milestone
Inder Singh, Group Chief Financial Officer of the company, welcomed the rating upgrades and emphasized the significance of the milestone:
“This is the first time that the company has achieved this level of recognition, which is a reflection of the dedication of our global teams to provide consistent performance in accordance with our strategic priorities.”
Singh highlighted improvements in risk management and earnings quality as key reasons for the upgraded ratings.
“Despite challenging catastrophe loss conditions, our financial performance has been robust, demonstrating the strength of our credit profile. We’re pleased that S&P has acknowledged the progress we’ve made.”
Looking ahead, Singh affirmed that consistency in execution remains central to the company’s strategic goals and future growth.
