S&P affirms QBE Insurance

Standard & Poor's said it affirmed the A+ rating on QBE Insurance Group Ltd.'s core operating companies and the A rating on QBE. The core operating subsidiaries include QBE Insurance (Australia) Ltd.,

QBE Insurance (International) Ltd., QBE Insurance (International) Ltd. , QBE Insurance (Europe) Ltd., QBE Reinsurance (Europe) Ltd., QBE Insurance Corp., QBE Reinsurance Corp., Equator Reinsurances Ltd., Praetorian

Insurance Co., QBE Specialty Insurance Company, and the operating companies of QBE Regional Cos. NA Inc.

The outlook is stable.

The affirmation reflects QBE's strong underwriting and operating performance during a period when several global insurance peers have experienced high volatility, S&P said.

The ratings continue to benefit from a well-diversified business platform and robust underwriting and reserving practices, the agency said.

While the group's capitalization level has experienced a modest level of deterioration from previous years, it remains supportive of the current rating, S&P added.

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