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QBE flags $1.1b loss as pandemic bites – Sydney Morning Herald

QBE Group is set to make a heavy loss for the first half, as its bottom line is hit by insurance claims caused by COVID-19 and market volatility.

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QBE Group is set to make a $US750 million ($1.1 billion) loss for the first half, as the insurer’s bottom line is hit by insurance claims caused by COVID-19 and market volatility hitting its investments.
The global insurer on Wednesday that despite some positive long-term trends such as higher premiums, its upcoming results would be affected by a range of COVID-19 related claim costs.
QBE estimated that its total COVID-19 related costs would be about $US600 million.Credit:Bloomberg
QBE said t…

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