Insurer QBE says it is on track to meet its full-year guidance and has confirmed its plan to increase its dividend payout ratio.
Chief executive John Neal told the company's annual general meeting in Sydney on Wednesday that the first three months of 2016 had been in line with February's forecast of a gross written premium of between $US14.2 billionand $US14.6 billion ($A18.96 billion-$A19.49 billion).
QBE still plans to raise its dividend payout ratio from 56 per cent in 2015 to as much as 65 per cent of cash profits starting with its 2016 interim distribution.
"While the rating environment remains challenging and competition is as strong as I have seen, renewals to date suggest premium rate reductions are trending broadly in-line with our FY16 expectations," Mr Neal said, adding that costs were down.
Share
