QBE stock gets a new regional CEO as Citi sets AUD 26.70 target

Published on 10/08/2026 at 08:32 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

QBE stock was last at AUD 24.37 on October 8, 2026, up 1.37 percent on ASX. First-half adjusted net profit reached USD 1.033 billion and return on equity was 17.7 percent.

QBE, AU000000QBE9, Illustration mit AI erstellt.

QBE Insurance Group Limited stock (ISIN AU000000QBE9) was last at AUD 24.37 on the ASX on October 8, 2026, up 1.37 percent from the prior close. The latest company event is a leadership change: Yahoo Finance reported on October 5, 2026, that Jonathan Groves will become CEO of QBE's Australia Pacific operations on November 1, 2026.

Regional leadership changes November 1

Groves will join the Group Executive Committee and report to Group CEO Andrew Horton, according to Yahoo Finance. The appointment gives QBE's Australia Pacific division a named leader for the next phase of premium growth and underwriting execution.

The regional change matters because QBE reaffirmed mid-single-digit gross written premium growth guidance for 2026 in its half-year update, as reported by Yahoo Finance. The key operating test is whether premium expansion continues without weakening underwriting margins.

Half-year profit reaches USD 1.033 billion

For the first half of 2026, QBE reported adjusted net profit after tax of USD 1.033 billion, up from USD 997 million in the comparable period. The 3.6 percent increase came with adjusted return on equity of 17.7 percent, according to Kapitales Research.

Gross written premiums reached USD 15.137 billion in the same period, a 6 percent constant-currency increase. The combined operating ratio was 92.8 percent, leaving underwriting performance close to management's FY26 target of 92.5 percent, the report said.

Citi sets AUD 26.70 target

Analyst attention has moved higher as well. Nigel Pittaway of Citi upgraded QBE to Buy and set a AUD 26.70 price target in a report released on October 7, 2026, according to Markets Insider.

The Citi target lies 9.56 percent above the AUD 24.37 ASX price. QBE's 52-week range is AUD 18.57 to AUD 25.83, so the stock is 5.66 percent below its yearly high while its first-half return metrics remain above the company's medium-term profitability objective.

QBE stock stays near its yearly high

QBE stock had a market capitalization of AUD 36.4 billion and traded 2,550,304 shares on October 8, 2026. The combination of a 1.37 percent daily gain, a price near the AUD 25.83 yearly high and a fresh AUD 26.70 analyst target puts margin delivery ahead of headline premium growth in the next valuation debate.