** Citi expects benign weather to help QBE Insurance's QBE.AX FY24 combined operating ratio, a metric used to assess how well an insurance firm is performing
** Brokerage lifts price target to A$22, retains "buy" rating
** QBE to announce its fiscal 2024 results on Feb. 21
** Citi expects some loss from the Los Angeles fires for QBE; co has less than 1% market share in Californian property and casualty insurance market
** However, there may be international market and reinsurance market exposure, making it too early to call, says Citi
** Brokerage also expects some pressure on QBE's crop premium growth in FY25 as corn and soybean prices are likely to be down
** QBE up 2.5% YTD as of last close, outperforming a 1.3% gain on the ASX Financials index .AXFJ
(Reporting by Nikita Maria Jino in Bengaluru, editing by Deepa Babington)
((Nikita.Jino@thomsonreuters.com;))
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