QBE (ASX:QBE) share price leaping 8% higher on results

The ASX 200 insurance company reported strong half year results.

| More on:
jump in asx share price represented by man leaping up from one wooden pillar to the next

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The QBE Insurance Group Ltd (ASX: QBE) share price is charging higher, up more than 8% in early afternoon trading.

Investor interest appears to have been piqued by the strong growth reported by the S&P/ASX 200 Index (ASX: XJO) insurance heavyweight in its half year financial results, released this morning.

What's did the ASX 200 insurance company report?

QBE's shares are surging after the company reported its adjusted cash profit lifted to US$463 million (AU$625 million) for the first half of the financial year. That's up from a loss of US$66 million in the prior half year.

Also flipping from a negative to a positive figure was QBE's underwriting result. This went from a loss of US$189 million in the prior half to a positive US$642 million in H1FY21.

Income hungry investors may also be helping drive the QBE share price higher today.

The company declared an interim dividend of 11 Australian cents per share. That's up from 4 cents per share in the previous half.

QBE did not provide guidance for the second half of the 2021 financial year.

QBE share price snapshot

Over the past 12 months QBE has gained 24%. That's right in line with the gains posted by the ASX 200.

Year-to-date, the QBE share price has been a stellar performer, up 46% in 2021.

Should you invest $1,000 in Qbe Insurance right now?

Before you buy Qbe Insurance shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Qbe Insurance wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

Excited couple celebrating success while looking at smartphone.
Broker Notes

Bell Potter names the best ASX 200 stocks to buy in May

The broker is feeling bullish on these names this month. Let's find out why.

Read more »

Red buy button on an apple keyboard with a finger on it representing asx tech shares to buy today
Broker Notes

Top brokers name 3 ASX shares to buy next week

Brokers gave buy ratings to these ASX shares last week. Why are they bullish?

Read more »

A man casually dressed looks to the side in a pensive, thoughtful manner with one hand under his chin, holding a mobile phone in his hand while thinking about something.
Opinions

Investing in high-yield ASX stocks has two major negatives

High-yield stocks do have downsides.

Read more »

Person pretends to types on laptop drawn in sand.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a happy finish to the week for ASX shares this Friday.

Read more »

Three people in a corporate office pour over a tablet, ready to invest.
Broker Notes

Brokers name 3 ASX shares to buy today

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A mature age woman with a groovy short haircut and glasses, sits at her computer, pen in hand thinking about information she is seeing on the screen.
Share Market News

ASX shares in April: 8 key takeaways according to Macquarie

Here are eight key takeaways from April, according to a new note from the broker.

Read more »

Woman looking at a phone with stock market bars in the background.
Share Market News

Market outlook: Should I 'sell in May and go away'?

May is the time to sell... If you believe in fairytales.

Read more »

Five young people sit in a row having fun and interacting with their mobile phones.
Share Gainers

5 ASX All Ords stocks rocketing higher this week

Investors sent these five ASX All Ords stocks soaring this week. But why?

Read more »