QBE Group has reported record profits for the first half of 2006.
Operating profit after tax soared 20% to A$591m, compared to A$491m for same period last year. Pre-tax profit was up 35% to A$748m for the period.
Gross written premium rose 10% to A$5,656m, while net earned premium increased 14% to A$3,998m.
QBE European Operations, which accounts for 50% of the Group's gross earned premium, reported a combined operating ratio of 90.6% in the first six months of the year. This was compared with 92.9% for the same period in 2005.
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