QBE Insurance Group Ltd (QBEIF) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and thank you for standing by. Welcome to QBE FY24 results. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you'll need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Chief Executive Officer Andrew Horton. Please go ahead. Good morning and thank you for joining us today. I'll start by acknowledging the traditional owners of the many lands on which we meet today. For me, this is the Gadigal lands of the Eora Nation and recognise their continuing connection to land, waters and culture. I pay my respects to the elders past and present and I extend this respect to any First Nations people joining us today. Now, three years on from the launch of our new purpose, vision, and strategic priorities, I think these are excellent results and showcase the benefit from our focus on improved and more consistent performance. So let's move to slide four. We entered 2024 with the simple ambition to beat our plan for the year and continue to grow our business. On both fronts, I think we've done a great job. Headline growth of 3% includes a drag from exited lines and crop. Excluding this, we delivered underlying growth of around 9%. Markets remain attractive for us, and we see another great opportunity for growth in 2025. Our combined operating ratio of 93.1% improved by around two points, and importantly, we beat our plan for the year of around 93.5%. The result holds plenty of proof points in our strive for greater...