Shares in QBE Insurance Group Ltd (ASX: QBE) fell to just $10.39 today and are down 14% over the last month. Over a longer 10-year time horizon QBE shares are down 70% as the company struggles to execute on its turnaround plans. The company has blamed many of its problems on tough insurance markets in North America and Europe after many years of rapid overseas expansion.
For the six-month period ending June 30, 2017, QBE reported a net profit of $345 million, up 45% on the prior corresponding half. Constant currency written premium growth came in at 3% and the group posted a return on equity of 8.8%. QBE reports on a calendar year basis and it will pay an interim dividend of 22 cents per share on a cash profit payout ratio of 61%. Its debt to equity ratio stands at 32.8%
