December 17, 2019 / 9:48 PM / 2 months ago

CORRECTED-Australia's QBE Insurance flags higher payout claims for N. American crop business

(Corrects paragraph 2 to say QBE is Australia’s second-largest listed insurer, not third; Also corrects slug)

Dec 18 (Reuters) - Australia’s QBE Insurance Group said on Wednesday its North American crop business is expected to give away claims payout of around 107%-109% on net earned premium of nearly $1.2 billion in 2019 due to adverse weather conditions.

“The adverse weather conditions are also anticipated to contribute to slightly elevated attritional loss experience in some of our North American property classes,” Australia’s second-largest listed insurer said in a statement. (Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Shinjini Ganguli)

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