QBE Insurance Group Ltd (QBEIF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, and thank you for standing by. Welcome to QBE fiscal year 2025 results conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask the question during the session, you will 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. We ask that you limit yourself to one question and one follow-up. I would now like to hand the conference over to Andrew Horton, Group Chief Financial Officer. Sir, you may begin. Good morning, everyone, and let's begin. I'm here with Chris Gillory, our new Group CFO. Hopefully you've had a chance to take a look at our release this morning. We've had a great year with an ROE just shy of 20%. and we're very proud of these results. Before we begin, 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 recognize 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. Moving to slide four with a snapshot of our result. This is a great summary of our performance. We exceeded all our key guidance and targets this year. Headline GWP growth picked up to 7% and tracked ahead of our guidance for mid single digit growth. We beat our combined ratio guidance again this year with an excellent result of 91.9%. Our catastrophe experience and improvement in our crop business drove the majority of the upside relative to the 92.5% we reiterated in November. Profitability is attractive across the majority of portfolios, and we're co...