BRIEF-QBE Insurance Says Entered Reserve Transactions With RiverStone International And Enstar
Reuters · 08/08 22:05
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Aug 9 (Reuters) - QBE Insurance Group Ltd QBE.AX:
ENTERED INTO IMPORTANT RESERVE TRANSACTIONS WITH RIVERSTONE INTERNATIONAL AND ENSTAR
TRANSACTIONS THAT WILL DE‑RISK GROUP'S EXPOSURE TO RESERVES TOTALLING $1.6 BILLION
$1.6 BILLION RESERVE TRANSACTION TO INCUR UPFRONT COST OF AROUND $85 MILLION IN SECOND HALF OF 2024
RESERVE TRANSACTION TO RESULT IN APRA PCA BENEFIT OF AROUND 3PTS, OR $230M NET CAPITAL BENEFIT IN H2 2024
Further company coverage: QBE.AX
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