- QBE (QBE) has cancelled its dividend distribution after 2020’s unprecedented turbulence drove a US$1.5 billion (almost A$2 billion) loss
- The loss included a “disappointing” underwriting result and a significant reduction in investment income, among other things
- As a result, the company has not declared a final dividend for the year but expects to resume payments should economic conditions stabilise
- While global markets expected to recover over time, QBE has also elected not to provide any results targets for the 2021 financial year
- The company therefore did not publish any results targets for the 2021 financial year
- QBE is up 2.52 per cent to $8.94 per share
