QBE has reported a $US1.033 billion ($1.464 billion) first-half net profit and premium gains in line with its outlook, as the company flags opportunities to leverage its global breadth in areas including reinsurance and broking relationships.

The net profit rose from $US1.022 billion ($1.45 billion) a year earlier on a statutory basis and was up an adjusted 4%. Gross written premium increased 6% on a constant currency basis to $US15.137 billion ($21.45 billion).

Group CEO Andrew Horton says QBE, which is marking its 140th anniversary, benefits from breadth and diversification and has positive momentum.

The insurance operating result rose 8% to $US691 million ($979 million), led by gains in the international arm, which includes businesses building on the global footprint.

Mr Horton says QBE Re premium has reached about $US4 billion ($5.7 billion) as it has taken a multiline approach, and it is targeting $US6 billion ($8.5 billion) by 2030.

“It’s not as though you stop at that point in time, but that’s a good aspiration to target, and then you assess, where are we, where could we be if we continue to grow?” he told insuranceNEWS.com.au.

QBE Portfolio Solutions is also expanding, and Mr Horton says a more “joined up” approach across group operations includes a focus on strengthening distribution partnerships, including with its largest global and regional brokers.

“It gives focus on both sides about how we can grow together to the benefit of the customer, and we’ve definitely seen in the first half of 2026 the benefit of doing that,” he said.

“Our aim is to do it with as many distribution partners as possible, but we put this real effort to start with on seven of the largest.”

The group has reported an average renewal premium rate increase of 0.3% in the half, compared with 2.1% in the prior period.

Mr Horton says rate adequacy is attractive across most lines and growth opportunities exist in sectors including infrastructure, cyber facilities, data centres and energy.

Locally, Mr Horton says an internal candidate is expected to take over the QBE Australia Pacific CEO role from Sue Houghton, who retires at year-end.

“We spend a lot of time on internal succession,” he said. “We’ve got a number of incredibly talented, very credible candidates, so we’re in that process of interviewing them.”

Mr Horton says QBE is supporting the industry code review process through the Insurance Council of Australia. Amid debate on the broking code, it favours remuneration transparency.

“We’ve got to be a fan of transparency when people are buying insurance – [that] they know what they’re paying,” he said.