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(Reuters) - Australia's QBE Insurance Group Ltd said on Friday costs associated with catastrophic claims for the four months of 2023 had reached nearly 90% of the allowances it had set aside for the first-half, dragging its shares nearly 9%.
QBE, the country's biggest insurer by market capitalisation, said net cost of catastrophe claims was around $480 million at the end of April, compared with the $535 million it had set aside for the first-half catastrophe allowances.
QBE said it experienced...
>>> Read more: QBE Insurance's rising catastrophic costs offset outlook hike, shares drop 9%
QBE, the country's biggest insurer by market capitalisation, said net cost of catastrophe claims was around $480 million at the end of April, compared with the $535 million it had set aside for the first-half catastrophe allowances.
QBE said it experienced...
>>> Read more: QBE Insurance's rising catastrophic costs offset outlook hike, shares drop 9%
