QBE <b>Insurance</b> sees lower <b>insurance</b> profit margin | <b>Insurance</b>

* First-half distinction seen good subsequent marketplace consensus

* Analyst downgrades seen

* QBE cites singular events f?r arise ?n claims

* QBE ???? t? say dividend

(Adds details, researcher views)

SYDNEY, Jun 14 (Reuters) – Australia’s QBE Insurance
flagged a 50-60 percent arise ?n first-half net profit,
well subsequent marketplace views, ?n? warned word distinction margins
w??? b? reduce ?? tellurian insurers ?t?r? ?t record catastrophe
losses.

QBE, Australia’s ??rg??t insurer, ???? ?t? vast individual
risk ?n? disaster claims ?ft?r reinsurance recoveries ?r?
already seen ?t $830 million ?n th? 5 months ?r some-more th?n
half th? $1.6 billion annual provision.

Th? warning ?? approaching t? trigger researcher downgrades ?n?
pressure ?n th? batch ?n Wednesday.

QBE, wh??h h?? m??? 75 acquisitions ?n th? final 10 years t?
spread t? scarcely 50 countries, h?? seen catastrophes beat ?t?
key markets ?f Australia, N?w Zealand, th? United States ?n?
Japan.

“W? r??k?n many ?n th? marketplace underestimated th? accumulation
?f continue events,” Andrew Adams, word researcher ?t Credit
Suisse, ????. “QBE ?? unprotected t? m??t events globally.”

Large disaster claims f?r th? financial year t? date
include storms ?n? a storm ?n Australia’s Queensland state,
storms ?n th? state ?f Victoria, ?th?r storms ?n Australia, N?w
Zealand’s Christchurch earthquake, th? Japan trembler ?n?
eight vital tornados ?n th? United States.

“Th? singular magnitude ?n? astringency ?f catastrophes ?n
th? initial 5 months h??? materially impacted a vast number ?f
insurers ?n? reinsurers,” QBE Chief Executive Frank O’Halloran
???? ?n a statement.

QBE’s proclamation follows warnings b? th? ??k?? ?f
Travelers Cos , Allstate Corp ?n? MetLife
following ?n singular ?t?rt t? th? year f?r th? global
insurance industry.

QBE’s 50-60 percent distinction arise puts ?t ?n th? $660 million
t? $704 million operation f?r th? 6 months t? Jun compared t?
$770 million foresee b? Thomson Reuters I/B/E/S. QBE ???? ?t
expected t? say division ?t A$0.62.

O’Halloran ???? estimable reward increases ?n catastrophe
affected portfolios w??? h??? ?n th? second half b?t large
catastrophe claims f?r th? subsequent 7 months w??? need t? b?
less th?n ?b??t $770 million.

H? combined fulfilment th? reduce ?n? ?f th? word profit
margin ?f 15 percent w??? b? shabby b? vast claims f?r th?
rest ?f th? year.

Earlier, smaller rival, Insurance Australia Group ,
reaffirmed th? outlook, wh??h ?t ??t twice ?n February, b?t ????
?t w?? ??t t? consider th? impact fr?m some-more earthquakes ?n
Christchurch ?n Monday. .

Ahead ?f th? announcement, QBE shares f?n??h?? 0.6 percent
higher ?t A$17.28 ?n a organisation Sydney market.

(Reporting b? Narayanan Somasundaram; Editing b? Ed Davies)

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