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Australia's QBE Insurance sees $600 mln impact on annual earnings
October 2, 2017 / 11:20 PM / 2 months ago

Australia's QBE Insurance sees $600 mln impact on annual earnings

Oct 3 (Reuters) - Australia’s QBE Insurance Group Ltd said it increased its allowance for large individual risk and catastrophe claims to $1.75 billion for 2017, following an impact on its business from hurricanes in the Atlantic and earthquakes in Mexico.

The company expects a pre-tax impact of about $600 million to its 2017 earnings, the company said in a statement on Tuesday.

Cyclone Debbie, Hurricanes Harvey, Irma and Maria and the earthquakes in Mexico have impacted the insurer’s businesses, the company said. (Reporting by Ambar Warrick in Bengaluru; Editing by Stephen Coates)

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