** QBE Insurance Group QBE.AX up 0.1%
** Citi expects QBE's Q1 FY25 trading update to be "solid enough"; calls Los Angeles fires the main catastrophe $(CAT)$
** Retains "buy", PT of A$23.3
** Expects CAT losses to be moderately elevated due to the impact of the Los Angeles fires and as interest rates continue to soften
** Sees QBE confirming its full-year outlook for combined operating ratio $(COR)$, used to assess an insurance firm's performance, and gross written premiums (GWP)
** Says it's possible GWP may be tracking ahead of expectations, with QBE targeting strong volume growth in FY25, while industry conditions still appear conducive for profitable underwriting
** Co Q1 update due on May 9
** Stock gains 11.2% YTD
(Reporting by Nikita Maria Jino in Bengaluru)
((Nikita.Jino@thomsonreuters.com;))
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