Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

BRIEF-QBE Insurance updates on outlook

Published 23/02/2016, 11:53 am
© Reuters.  BRIEF-QBE Insurance updates on outlook
QBE
-

Feb 23 (Reuters) - QBE Insurance Group Ltd QBE.AX :

* Market release - QBE announces 2015 results QBE.AX

* 2016 target allows for $150 million reduction in operating expenses intended to deliver a 1% improvement in 2016 expense ratio

* Developing plans to eliminate further $150 million of costs in 2017-18, thereby improving expense ratio by 2% over the three years to 2018

* Expected to result in a total reduction in the group's gross operating expenses of approximately $700 million over the six year period to 2018

* Says board has approved a 36% increase in the final dividend to 30 Australian cents per share

* Substantial additional cost savings anticipated in 2016 and over the medium term"

* Source text for Eikon ID:nASX2DTdDk

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.