2343 GMT - QBE Insurance's catastrophe claims for the four months through April are a little ahead of Citi's expectations but only because $60 million of Middle East crisis losses are included. Citi says catastrophe claims are favorable versus its allowance. Catastrophe costs of $300 million through April are under its 1H allowance of $517 million. That implies an allowance for May and June of $217 million. "This should be more than sufficient barring a particularly adverse two months," analyst Nigel Pittaway says. Overall, QBE's 1Q update is largely as Citi expected. It has a buy call on the stock. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

May 07, 2026 19:43 ET (23:43 GMT)

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