Australia's QBE warns H1 results worse than consensus expectations

SYDNEY, July 29 Mon Jul 28, 2014 6:57pm EDT

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SYDNEY, July 29 (Reuters) - Australia's QBE Insurance Group said on Tuesday its insurance profit margin is likely to be around 7 percent to 8 percent compared with consensus expectations of around 10 percent, hit by higher claims, largely in Argentina.

The group's operating ratio - its operating expenses as a percentage of revenue - is expected to rise to 96 percent to 97 percent compared with consensus expectations of around 93 percent, it said.

It will report first half results on Aug.19. ($1 = 1.0635 Australian Dollars) (Reporting by Swati Pandey; Editing by Chris Reese)

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