Executive Summary
QBE Insurance Group Limited underwrites general insurance and reinsurance risks worldwide.
Rewards
Risk Analysis
Snowflake Analysis
Undervalued with acceptable track record.
Similar Companies
Share Price & News
How has QBE Insurance Group's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: QBE has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
4.6%
QBE
0.7%
AU Insurance
-0.07%
AU Market
1 Year Return
23.0%
QBE
16.0%
AU Insurance
19.1%
AU Market
Return vs Industry: QBE exceeded the Australian Insurance industry which returned 16% over the past year.
Return vs Market: QBE exceeded the Australian Market which returned 19.1% over the past year.
Shareholder returns
| QBE | Industry | Market | |
|---|---|---|---|
| 7 Day | 4.6% | 0.7% | -0.07% |
| 30 Day | -1.8% | -1.8% | -0.6% |
| 90 Day | 1.3% | -4.5% | 0.4% |
| 1 Year | 28.3%23.0% | 22.5%16.0% | 25.0%19.1% |
| 3 Year | 17.1%4.5% | 30.4%12.0% | 36.0%17.4% |
| 5 Year | 50.2%23.7% | 55.0%19.9% | 63.2%26.5% |
Price Volatility Vs. Market
How volatile is QBE Insurance Group's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Read This Before Judging QBE Insurance Group Limited's (ASX:QBE) ROE1 month ago | Simply Wall St
At AU$12.69, Is QBE Insurance Group Limited (ASX:QBE) Worth Looking At Closely?1 month ago | Simply Wall St
Is QBE Insurance Group Limited (ASX:QBE) An Attractive Dividend Stock?Valuation
Is QBE Insurance Group undervalued compared to its fair value and its price relative to the market?
33.5%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: QBE (A$12.64) is trading below our estimate of fair value (A$19)
Significantly Below Fair Value: QBE is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: QBE is good value based on its PE Ratio (17x) compared to the Insurance industry average (20.2x).
PE vs Market: QBE is good value based on its PE Ratio (17x) compared to the Australian market (18.4x).
Price to Earnings Growth Ratio
PEG Ratio: QBE is poor value based on its PEG Ratio (2.6x)
Price to Book Ratio
PB vs Industry: QBE is good value based on its PB Ratio (1.4x) compared to the AU Insurance industry average (2.8x).
Next Steps
Future Growth
How is QBE Insurance Group forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?
6.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: QBE's forecast earnings growth (6.5% per year) is above the savings rate (1.1%).
Earnings vs Market: QBE's earnings (6.5% per year) are forecast to grow slower than the Australian market (9.3% per year).
High Growth Earnings: QBE's earnings are forecast to grow, but not significantly.
Revenue vs Market: QBE's revenue (1.3% per year) is forecast to grow slower than the Australian market (3.6% per year).
High Growth Revenue: QBE's revenue (1.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: QBE's Return on Equity is forecast to be low in 3 years time (11.5%).
Next Steps
Past Performance
How has QBE Insurance Group performed over the past 5 years?
-16.7%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: QBE has high quality earnings.
Growing Profit Margin: QBE became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: QBE has become profitable over the past 5 years, growing earnings by -16.7% per year.
Accelerating Growth: QBE has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: QBE has become profitable in the last year, making it difficult to compare its past year earnings growth to the Insurance industry (7.2%).
Return on Equity
High ROE: QBE's Return on Equity (8%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is QBE Insurance Group's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: QBE has a low level of unsold assets or inventory.
Debt Coverage by Assets: QBE's debt is covered by short term assets (assets are 4.5x debt).
Financial Institutions Analysis
Asset Level: QBE's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if QBE has a sufficient allowance for bad loans.
Low Risk Liabilities: QBE reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if QBE has an acceptable proportion of non-loan assets held.
Low Risk Deposits: QBE has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if QBE has an appropriate level of bad loans.
Next Steps
Dividend
What is QBE Insurance Group's current dividend yield, its reliability and sustainability?
4.12%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: QBE's dividend (4.12%) is higher than the bottom 25% of dividend payers in the Australian market (2.44%).
High Dividend: QBE's dividend (4.12%) is low compared to the top 25% of dividend payers in the Australian market (5.55%).
Stability and Growth of Payments
Stable Dividend: QBE's dividend payments have been volatile in the past 10 years.
Growing Dividend: QBE's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (72%), QBE's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: QBE's dividends in 3 years are forecast to be covered by earnings (63.8% payout ratio).
Next Steps
Management
What is the CEO of QBE Insurance Group's salary, the management and board of directors tenure and is there insider trading?
1.8yrs
Average management tenure
CEO
Pat Regan (53yo)
1.9yrs
Tenure
US$3,982,000
Compensation
Mr. Patrick C. Regan, also known as Pat, BSc, FCA, has been Group Chief Executive Officer of QBE Insurance Group Limited since January 1, 2018. Mr. Regan served Chief Executive Officer of Australian & New ...
CEO Compensation Analysis
Compensation vs Market: Pat's total compensation ($USD3.98M) is about average for companies of similar size in the Australian market ($USD3.81M).
Compensation vs Earnings: Pat's compensation has been consistent with company performance over the past year.
Management Age and Tenure
1.8yrs
Average Tenure
51yo
Average Age
Experienced Management: QBE's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.
Board Age and Tenure
5.2yrs
Average Tenure
66yo
Average Age
Experienced Board: QBE's board of directors are considered experienced (5.2 years average tenure).
Insider Trading
Insider Buying: QBE insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Member of the Board of Directors Independent Non-Executive Director |
| Shares | 1,235 |
| Max Price | US$12.50 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Non-Executive Director |
| Shares | 1,321 |
| Max Price | US$12.50 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Non-Executive Director |
| Shares | 1,220 |
| Max Price | US$12.50 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Non-Executive Director |
| Shares | 1,406 |
| Max Price | US$12.50 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Non-Executive Director |
| Shares | 832 |
| Max Price | US$12.50 |
| Entity | Individual |
| Shares | 1,134 |
| Max Price | US$12.50 |
| Entity | Individual |
| Role | Chairman of the Board Independent Chairman of the Board |
| Shares | 2,706 |
| Max Price | US$12.50 |
| Entity | Individual |
| Shares | 1,217 |
| Max Price | US$11.66 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Non-Executive Director |
| Shares | 1,324 |
| Max Price | US$11.66 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Non-Executive Director |
| Shares | 1,416 |
| Max Price | US$11.66 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Non-Executive Director |
| Shares | 1,308 |
| Max Price | US$11.66 |
| Entity | Individual |
| Role | Chairman of the Board Independent Chairman of the Board |
| Shares | 2,902 |
| Max Price | US$11.66 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Non-Executive Director |
| Shares | 1,508 |
| Max Price | US$11.66 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Non-Executive Director |
| Shares | 892 |
| Max Price | US$11.66 |
| Entity | Company |
| Shares | 30,198,384 |
| Max Price | US$14.43 |
| Entity | Company |
| Shares | 23,047,648 |
| Max Price | US$13.59 |
| Entity | Company |
| Shares | 4,272,987 |
| Max Price | US$13.04 |
| Entity | Company |
| Shares | 10,072,963 |
| Max Price | US$13.08 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Non-Executive Director |
| Shares | 2,671 |
| Max Price | US$12.36 |
| Entity | Individual |
| Shares | 764 |
| Max Price | US$12.36 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Non-Executive Director |
| Shares | 2,671 |
| Max Price | US$12.36 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Non-Executive Director |
| Shares | 2,468 |
| Max Price | US$12.36 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Non-Executive Director |
| Shares | 2,845 |
| Max Price | US$12.36 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Non-Executive Director |
| Shares | 1,683 |
| Max Price | US$12.36 |
| Entity | Individual |
| Role | Chairman of the Board Independent Chairman of the Board |
| Shares | 5,474 |
| Max Price | US$12.36 |
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Management Team
Richard Pryce (59yo)
Chief Executive Officer of International
- Tenure: 6.2yrs
- Compensation: US$3.42m
Peter Grewal
Group Chief Risk Officer
- Tenure: 1.4yrs
- Compensation: US$1.07m
Carolyn Scobie
Group General Counsel & Company Secretary
- Tenure: 3.9yrs
Pat Regan (53yo)
Group CEO & Executive Director
- Tenure: 1.9yrs
- Compensation: US$3.98m
Tony Jackson
Group Head of Investor Relations
- Tenure: 0yrs
Jason Brown (49yo)
Group Chief Underwriting Officer
- Tenure: 0.9yrs
- Compensation: US$1.48m
Vivek Bhatia
Chief Executive Officer of Australia Pacific
- Tenure: 1.8yrs
- Compensation: US$3.03m
Margaret Murphy (46yo)
Group Executive of People & Change
- Tenure: 3.2yrs
- Compensation: US$1.37m
Inder Singh
Group Chief Financial Officer
- Tenure: 1.7yrs
- Compensation: US$1.44m
Matt Mansour
Global Chief Information Officer
- Tenure: 1.7yrs
Board Members
Marty Becker (66yo)
Independent Chairman of the Board
- Tenure: 5.7yrs
- Compensation: US$595.00k
Mike Wilkins (62yo)
Independent Non-Executive Director
- Tenure: 3.1yrs
- Compensation: US$271.00k
John Green (66yo)
Deputy Chairman
- Tenure: 4.9yrs
- Compensation: US$339.00k
Stephen Fitzgerald (55yo)
Independent Non-Executive Director
- Tenure: 5.2yrs
- Compensation: US$302.00k
Kathy Lisson (67yo)
Independent Non-Executive Director
- Tenure: 3.3yrs
- Compensation: US$268.00k
Pat Regan (53yo)
Group CEO & Executive Director
- Tenure: 1.9yrs
- Compensation: US$3.98m
Rolf Albert Tolle (71yo)
Independent Non-Executive Director
- Tenure: 3.8yrs
- Compensation: US$290.00k
Brian Pomeroy (74yo)
Independent Non-Executive Director
- Tenure: 5.5yrs
- Compensation: US$290.00k
Jann Skinner (61yo)
Independent Non-Executive Director
- Tenure: 5.2yrs
- Compensation: US$286.00k
Company Information
QBE Insurance Group Limited's company bio, employee growth, exchange listings and data sources
Key Information
- Name: QBE Insurance Group Limited
- Ticker: QBE
- Exchange: ASX
- Founded: 1886
- Industry: Property and Casualty Insurance
- Sector: Insurance
- Market Cap: AU$16.537b
- Shares outstanding: 1.31b
- Website: https://www.qbe.com
Number of Employees
Location
- QBE Insurance Group Limited
- 8 Chifley Square
- Level 27
- Sydney
- New South Wales
- 2000
- Australia
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| QBEI.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Jan 1992 |
| QBE | ASX (Australian Securities Exchange) | Yes | Ordinary Shares | AU | AUD | Jan 1992 |
| QBE | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Jan 1992 |
| QBE | CHIA (Chi-X Australia) | Yes | Ordinary Shares | AU | AUD | Jan 1992 |
| QBIE.Y | OTCPK (Pink Sheets LLC) | SPONSORED ADR | US | USD | Oct 2008 |
Biography
QBE Insurance Group Limited underwrites general insurance and reinsurance risks worldwide. It operates through North American Operations, European Operations, Australian & New Zealand Operations, Asia Paci ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/12/11 10:34 |
| End of Day Share Price | 2019/12/11 00:00 |
| Earnings | 2019/06/30 |
| Annual Earnings | 2018/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.