May 3, 2018 / 1:36 AM / 5 months ago

BRIEF-QBE Insurance Group Expects To Continue To Pay Dividend Of Up To 65% Of Cash Profits

May 3 (Reuters) - QBE Insurance Group Ltd:

* EXPERIENCED PREMIUM RATE STRENGTH OF ABOUT 4 PERCENT (EXCLUDING CTP) IN Q1

* “OUR RATE INCREASES IN Q1 OF 2018 HAVE BEEN BROADLY IN LINE WITH OUR FORECASTS”

* “OUR YEAR TO DATE INVESTMENT RETURNS (ON AN ANNUALISED BASIS) WERE BELOW OUR FY18 TARGET RANGE”

* LOOKING FORWARD, DIVIDEND POLICY REMAINS THE SAME; EXPECTS TO CONTINUE TO PAY DIVIDEND OF UP TO 65% OF CASH PROFITS

* COMMENCED PREVIOUSLY ANNOUNCED SHARE BUYBACK FOR 2018 AND AS AT 1 MAY ACQUIRED A$23.5 MILLION OF SHARES ON MARKET UNDER PROGRAM

* SHAREHOLDERS SHOULD EXPECT A RETURN TO A MORE HISTORICALLY NORMAL DIVIDEND Source text for Eikon: Further company coverage:

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