0340 GMT - QBE Insurance is increasingly likely to pull the trigger on capital management at its fiscal 2024 result in February, UBS analysts say in a note. Regulatory capital coverage is likely to remain at or above the top end of QBE's target range this month, while continued momentum in its combined operating ratio positions the insurer to achieve a return on equity of more than 17% next year, analysts say. Consequently, "we believe QBE could commence annual buybacks of US$300 million," they say. QBE is UBS's top pick across Australian general insurers. UBS maintains a buy rating with a target price of A$21.50 on the stock, which is up 0.6% at A$19.035. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
December 18, 2024 22:40 ET (03:40 GMT)
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