Shares still trading well below pre-profit warning levels

QBE’s shares fell a further 9.8% in Tuesday’s trading after rating agency Moody’s downgraded the Australian insurer’s credit rating to Baa2 from Baa1.

The share price closed at A$10.82 on Tuesday, compared with Monday’s closing price of A$12.

QBE’s share price had already dropped 22.3% in trading on Monday after QBE warned it would make a A$250m loss in its 2013 financial year because of reserve strengthening and goodwill write-downs in its North American operation.

The share price has recovered slightly in Wednesday’s trading – it is now trading around A$11.

However, this is still well below Friday’s closing price of A$15.45, before the profit warning and subsequent downgrade.  

The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

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