• Contact
  • Feedback
Banking Day
ConfidentiallySpeaking.com.au Logo
High-impact negotiation masterclass | July 9 & 16, 2025 | 5:00pm - 8:30pm
This high-impact negotiation masterclass teaches practical strategies to help you succeed in challenging negotiations.
Register Now
  • News
  • Topics
    • All Topics
    • Briefs
    • Major Banks
    • Authorised deposit-taking institutions
    • Insurance, funds and super
    • Payments, mobile & wallets
    • Consumer lending
    • Mortgages
    • Business lending
    • Finance regulation
    • Debt capital markets
    • Ratings agencies
    • Equity capital markets
    • Professional services
    • Work & career
    • Foreign news
    • Other topics
  • Free Trial
  • Subscribe
  • Resources
    • Industry events
  • About us
    • About Banking Day
    • Advertise
    • Feedback
    • Contact Banking Day
  • Search
  • Login
  • My account
    • Account settings
    • User Admin
    • Logout

Login or request a free trial

Underwriting profit falls for QBE LMI

29 April 2013 5:01PM
A doubling in the claims ratio helped slice the underwriting profit for QBE Lenders Mortgage Insurance last year. Underwriting profit fell to A$76.7 million in the year to December 2012, from $102.6 million in 2011.Claims incurred increased to $61 million, from $28 million, a trend consistent with the rise reported by its major rival, Genworth Financial. The net loss ratio doubled to 30 per cent.QBRE said, in financial statements lodged with ASIC, that it saw "heightened rates of conversion of defaults to claims and greater claim severity."On the other hand, it said, loss ratios "even in the most badly hit regions [were] significantly less than in previous downturns."Lower interest rates later in 2012 are moderating the recent level of claims, however.In addition, new business for QBE LMI increased handsomely - up 25 per cent, to $339 million.

I'm a returning subscriber

*
Password reset *
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day
ConfidentiallySpeaking.com.au Logo
High-impact negotiation masterclass | July 9 & 16, 2025 | 5:00pm - 8:30pm
This high-impact negotiation masterclass teaches practical strategies to help you succeed in challenging negotiations.
Register Now

Consumer lending

  • Latitude, Harvey Norman liable for interest free GO card con

Copyright © WorkDay Media 2003-2025.

Banking Day is a WorkDay Media publication

WorkDay Media Unit Trust

  • Privacy policy
  • Terms of access and use