AM Best has affirmed the Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Ratings of “a+” for several key subsidiaries of QBE Insurance Group Ltd, including its Bermudian-based entities QBE Capital (Global) Ltd and QBE Capital Ltd.

The global ratings agency said the outlook for all ratings remains stable, citing QBE’s “very strong” balance sheet, strong operating performance and sound risk management.

The ratings also apply to QBE’s operations in the UK, Europe and North America, including QBE UK Ltd, QBE Europe SA/NV and multiple US-based pooled entities such as QBE Insurance Corp and QBE Reinsurance Corp.

QBE’s risk-adjusted capitalisation remains at the strongest level, supported by a conservative investment portfolio and keeping money in reserve. AM Best also noted that the insurer has demonstrated strong financial flexibility and improved its combined ratio to 90.2 per cent in 2024, down two points from the previous year.

QBE, listed on the Australian Stock Exchange, holds strong competitive positions in global commercial insurance markets and continues to benefit from excellent geographic diversification.