Monday 16 October 2017 by Asmita Kulkarni Company updates

QBE ratings affirmed

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Despite worse than expected weather events and natural disasters, QBE’s ratings were affirmed by S&P and Moody’s. We believe the USD 5.875% 17 June 2046 subordinated Tier 2 bond is trading at fair value 

On 12 October 2017, QBE ratings were affirmed by S&P and Moody's. The ratings affirmation comes after QBE’s recent announcement, noting that the company had increased its large individual risk and catastrophe claims allowance following Hurricanes Harvey, Irma, and Maria, the Mexican earthquakes, as well as Cyclone Debbie in Australia earlier this year.

The full report including current ratings is available here.External link - opens in a new window