QBE Insurance Group Limited (QBE) - Net Assets
Based on the latest financial reports, QBE Insurance Group Limited (QBE) has net assets worth AU$11.66 Billion AUD (≈ $8.25 Billion USD) as of June 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (AU$48.79 Billion ≈ $34.52 Billion USD) and total liabilities (AU$37.12 Billion ≈ $26.27 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. See net asset quality index of QBE Insurance Group Limited to measure how much of total assets are equity-financed.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | AU$11.66 Billion |
| % of Total Assets | 23.91% |
| Annual Growth Rate | 11.41% |
| 5-Year Change | 31.92% |
| 10-Year Change | 13.66% |
| Growth Volatility | 114.79 |
QBE Insurance Group Limited - Net Assets Trend (1988–2025)
This chart illustrates how QBE Insurance Group Limited's net assets have evolved over time, based on quarterly financial data. Also explore how fast is QBE Insurance Group Limited growing its equity to track the company's year-over-year net asset growth rate.
Annual Net Assets for QBE Insurance Group Limited (1988–2025)
The table below shows the annual net assets of QBE Insurance Group Limited from 1988 to 2025. For live market cap and overall valuation, see QBE market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | AU$11.68 Billion ≈ $8.26 Billion |
+8.85% |
| 2024-12-31 | AU$10.73 Billion ≈ $7.59 Billion |
+7.82% |
| 2023-12-31 | AU$9.95 Billion ≈ $7.04 Billion |
+11.51% |
| 2022-12-31 | AU$8.93 Billion ≈ $6.32 Billion |
+0.80% |
| 2021-12-31 | AU$8.85 Billion ≈ $6.27 Billion |
+4.27% |
| 2020-12-31 | AU$8.49 Billion ≈ $6.01 Billion |
+4.10% |
| 2019-12-31 | AU$8.16 Billion ≈ $5.77 Billion |
-2.89% |
| 2018-12-31 | AU$8.40 Billion ≈ $5.94 Billion |
-4.17% |
| 2017-12-31 | AU$8.77 Billion ≈ $6.20 Billion |
-14.71% |
| 2016-12-31 | AU$10.28 Billion ≈ $7.27 Billion |
-2.84% |
| 2015-12-31 | AU$10.58 Billion ≈ $7.48 Billion |
+10.99% |
| 2014-12-31 | AU$9.53 Billion ≈ $6.74 Billion |
-8.71% |
| 2013-12-31 | AU$10.44 Billion ≈ $7.39 Billion |
-11.34% |
| 2012-12-31 | AU$11.77 Billion ≈ $8.33 Billion |
+11.16% |
| 2011-12-31 | AU$10.59 Billion ≈ $7.49 Billion |
+0.22% |
| 2010-12-31 | AU$10.57 Billion ≈ $7.48 Billion |
+14.22% |
| 2009-12-31 | AU$9.25 Billion ≈ $6.55 Billion |
+16.27% |
| 2008-12-31 | AU$7.96 Billion ≈ $5.63 Billion |
+6.14% |
| 2007-12-31 | AU$7.50 Billion ≈ $5.31 Billion |
+48.08% |
| 2006-12-31 | AU$5.06 Billion ≈ $3.58 Billion |
+280.26% |
| 2005-12-31 | AU$-2.81 Billion ≈ $-1.99 Billion |
-180.36% |
| 2004-12-31 | AU$3.50 Billion ≈ $2.47 Billion |
+347.07% |
| 2003-12-31 | AU$-1.41 Billion ≈ $-1.00 Billion |
-184.45% |
| 2002-12-31 | AU$1.68 Billion ≈ $1.19 Billion |
+20.83% |
| 2001-12-31 | AU$1.39 Billion ≈ $980.89 Million |
-20.83% |
| 2000-12-31 | AU$1.75 Billion ≈ $1.24 Billion |
-67.00% |
| 1999-12-31 | AU$5.31 Billion ≈ $3.75 Billion |
+622.24% |
| 1998-12-31 | AU$734.57 Million ≈ $519.76 Million |
+16.05% |
| 1997-12-31 | AU$632.96 Million ≈ $447.86 Million |
-12.56% |
| 1996-12-31 | AU$723.87 Million ≈ $512.18 Million |
+15.51% |
| 1995-12-31 | AU$626.69 Million ≈ $443.42 Million |
+31.93% |
| 1994-12-31 | AU$475.00 Million ≈ $336.09 Million |
+7.08% |
| 1993-12-31 | AU$443.58 Million ≈ $313.86 Million |
+26.20% |
| 1992-12-31 | AU$351.48 Million ≈ $248.70 Million |
+1.42% |
| 1991-12-31 | AU$346.56 Million ≈ $245.21 Million |
+15.03% |
| 1990-12-31 | AU$301.27 Million ≈ $213.17 Million |
+9.86% |
| 1989-12-31 | AU$274.23 Million ≈ $194.04 Million |
+28.08% |
| 1988-12-31 | AU$214.11 Million ≈ $151.50 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to QBE Insurance Group Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 5270.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | AU$4.17 Billion | 35.72% |
| Common Stock | AU$8.43 Billion | 72.18% |
| Other Comprehensive Income | AU$-906.61 Million | -7.76% |
| Total Equity | AU$11.68 Billion | 100.00% |
QBE Insurance Group Limited Competitors by Market Cap
The table below lists competitors of QBE Insurance Group Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
PTT Public Company Limited
F:NVA3
|
$26.62 Billion |
|
Aristocrat Leisure Ltd
AU:ALL
|
$26.66 Billion |
|
Cognizant Technology Solutions Corp Class A
NASDAQ:CTSH
|
$26.67 Billion |
|
Citizens Financial Group, Inc.
NYSE:CFG
|
$26.77 Billion |
|
Halliburton Company
NYSE:HAL
|
$26.57 Billion |
|
CK HUTCHISON HLDGS ADR 1
F:2CKA
|
$26.54 Billion |
|
WOODSIDE ENE. SP.ADR 1
F:WOP
|
$26.53 Billion |
|
Sampo Oyj A
HE:SAMPO
|
$26.48 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in QBE Insurance Group Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 10,731,000,000 to 11,678,876,000, a change of 947,876,000 (8.8%).
- Net income of 2,232,219,551 contributed positively to equity growth.
- Dividend payments of 835,141,946 reduced retained earnings.
- Share repurchases of 1,134,220,041 reduced equity.
- Other comprehensive income increased equity by 18,389,000.
- Other factors increased equity by 666,629,436.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | AU$2.23 Billion | +19.11% |
| Dividends Paid | AU$835.14 Million | -7.15% |
| Share Repurchases | AU$1.13 Billion | -9.71% |
| Other Comprehensive Income | AU$18.39 Million | +0.16% |
| Other Changes | AU$666.63 Million | +5.71% |
| Total Change | AU$- | 8.83% |
Book Value vs Market Value Analysis
This analysis compares QBE Insurance Group Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 3.28x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 28.73x to 3.28x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1988-12-31 | AU$0.88 | AU$25.15 | x |
| 1989-12-31 | AU$1.07 | AU$25.15 | x |
| 1990-12-31 | AU$1.15 | AU$25.15 | x |
| 1991-12-31 | AU$1.10 | AU$25.15 | x |
| 1992-12-31 | AU$0.61 | AU$25.15 | x |
| 1993-12-31 | AU$1.12 | AU$25.15 | x |
| 1994-12-31 | AU$1.38 | AU$25.15 | x |
| 1995-12-31 | AU$1.39 | AU$25.15 | x |
| 1996-12-31 | AU$1.94 | AU$25.15 | x |
| 1997-12-31 | AU$1.62 | AU$25.15 | x |
| 1998-12-31 | AU$1.85 | AU$25.15 | x |
| 1999-12-31 | AU$-0.04 | AU$25.15 | x |
| 2001-12-31 | AU$2.88 | AU$25.15 | x |
| 2002-12-31 | AU$2.73 | AU$25.15 | x |
| 2003-12-31 | AU$5.18 | AU$25.15 | x |
| 2004-12-31 | AU$4.95 | AU$25.15 | x |
| 2005-12-31 | AU$6.27 | AU$25.15 | x |
| 2006-12-31 | AU$6.03 | AU$25.15 | x |
| 2007-12-31 | AU$8.39 | AU$25.15 | x |
| 2008-12-31 | AU$8.73 | AU$25.15 | x |
| 2009-12-31 | AU$10.00 | AU$25.15 | x |
| 2010-12-31 | AU$9.81 | AU$25.15 | x |
| 2011-12-31 | AU$9.18 | AU$25.15 | x |
| 2012-12-31 | AU$9.48 | AU$25.15 | x |
| 2013-12-31 | AU$8.59 | AU$25.15 | x |
| 2014-12-31 | AU$7.13 | AU$25.15 | x |
| 2015-12-31 | AU$7.62 | AU$25.15 | x |
| 2016-12-31 | AU$7.36 | AU$25.15 | x |
| 2017-12-31 | AU$6.40 | AU$25.15 | x |
| 2018-12-31 | AU$6.76 | AU$25.15 | x |
| 2019-12-31 | AU$6.15 | AU$25.15 | x |
| 2020-12-31 | AU$5.32 | AU$25.15 | x |
| 2021-12-31 | AU$5.97 | AU$25.15 | x |
| 2022-12-31 | AU$5.98 | AU$25.15 | x |
| 2023-12-31 | AU$6.62 | AU$25.15 | x |
| 2024-12-31 | AU$7.09 | AU$25.15 | x |
| 2025-12-31 | AU$7.67 | AU$25.15 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently QBE Insurance Group Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 19.11%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 8.94%
- • Asset Turnover: 0.51x
- • Equity Multiplier: 4.21x
- Recent ROE (19.11%) is above the historical average (5.69%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1988 | -0.28% | 0.00% | 0.00x | 5.35x | AU$-21.70 Million |
| 1989 | -0.22% | 0.00% | 0.00x | 5.24x | AU$-27.66 Million |
| 1990 | -0.04% | 0.00% | 0.00x | 5.12x | AU$-29.86 Million |
| 1991 | -0.22% | 0.00% | 0.00x | 5.98x | AU$-34.91 Million |
| 1992 | -0.30% | 0.00% | 0.00x | 5.25x | AU$-35.59 Million |
| 1993 | -0.23% | 0.00% | 0.00x | 5.09x | AU$-44.69 Million |
| 1994 | -0.32% | 0.00% | 0.00x | 5.20x | AU$-48.32 Million |
| 1995 | -0.43% | 0.00% | 0.00x | 4.66x | AU$-63.70 Million |
| 1996 | -0.30% | 0.00% | 0.00x | 5.61x | AU$-72.59 Million |
| 1997 | -0.22% | 0.00% | 0.00x | 6.23x | AU$-62.93 Million |
| 1998 | -0.10% | 0.00% | 0.00x | 5.97x | AU$-72.42 Million |
| 1999 | 0.00% | -0.09% | 0.31x | 0.00x | AU$-990.62K |
| 2000 | 5.91% | 2.92% | 0.24x | 8.48x | AU$-69.90 Million |
| 2001 | -0.30% | -0.16% | 0.25x | 7.48x | AU$-140.22 Million |
| 2002 | 0.03% | 0.02% | 0.29x | 6.95x | AU$-163.23 Million |
| 2003 | -0.15% | -0.08% | 0.42x | 4.74x | AU$-336.30 Million |
| 2004 | 24.85% | 11.48% | 0.38x | 5.68x | AU$512.17 Million |
| 2005 | 15.69% | 13.14% | 0.28x | 4.26x | AU$289.56 Million |
| 2006 | 29.60% | 15.97% | 0.37x | 5.05x | AU$981.94 Million |
| 2007 | 22.68% | 16.43% | 0.30x | 4.67x | AU$943.76 Million |
| 2008 | 16.46% | 14.54% | 0.26x | 4.34x | AU$510.19 Million |
| 2009 | 17.31% | 13.82% | 0.35x | 3.60x | AU$747.46 Million |
| 2010 | 12.39% | 10.77% | 0.28x | 4.09x | AU$251.06 Million |
| 2011 | 6.68% | 4.30% | 0.34x | 4.50x | AU$-349.89 Million |
| 2012 | 6.50% | 4.45% | 0.33x | 4.47x | AU$-410.25 Million |
| 2013 | -2.44% | -1.57% | 0.34x | 4.56x | AU$-1.29 Billion |
| 2014 | 7.82% | 4.98% | 0.39x | 4.08x | AU$-206.50 Million |
| 2015 | 6.53% | 5.29% | 0.30x | 4.08x | AU$-365.24 Million |
| 2016 | 8.25% | 7.22% | 0.28x | 4.11x | AU$-178.74 Million |
| 2017 | -14.32% | -10.40% | 0.27x | 5.01x | AU$-2.12 Billion |
| 2018 | 4.24% | 3.20% | 0.31x | 4.30x | AU$-530.58 Million |
| 2019 | 6.74% | 4.35% | 0.35x | 4.38x | AU$-265.73 Million |
| 2020 | -20.07% | -12.71% | 0.26x | 6.17x | AU$-2.27 Billion |
| 2021 | 8.47% | 5.54% | 0.31x | 4.88x | AU$-135.38 Million |
| 2022 | 6.58% | 4.38% | 0.40x | 3.72x | AU$-305.35 Million |
| 2023 | 13.65% | 7.77% | 0.41x | 4.24x | AU$362.25 Million |
| 2024 | 16.58% | 9.49% | 0.43x | 4.09x | AU$705.90 Million |
| 2025 | 19.11% | 8.94% | 0.51x | 4.21x | AU$1.06 Billion |
Industry Comparison
This section compares QBE Insurance Group Limited's net assets metrics with peer companies in the Insurance - Property & Casualty industry.
Industry Context
- Industry: Insurance - Property & Casualty
- Average net assets among peers: $7,150,000,000
- Average return on equity (ROE) among peers: 16.65%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| QBE Insurance Group Limited (QBE) | AU$11.66 Billion | -0.28% | 3.18x | $26.59 Billion |
| Insurance Australia Group Ltd (IAG) | $3.67 Billion | 20.68% | 3.62x | $13.45 Billion |
| Suncorp Group Ltd (SUN) | $4.43 Billion | 20.67% | 11.94x | $14.21 Billion |
| Suncorp Group Ltd (SUNPH) | $13.35 Billion | 8.60% | 7.61x | $18.01 Billion |
About QBE Insurance Group Limited
QBE Insurance Group Limited engages in underwriting general insurance and reinsurance risks in the Australia Pacific, North America, and internationally. The company offers commercial and domestic property, agriculture, public/product liability, motor and motor casualty, professional indemnity, workers' compensation, accident, health, financial and credit, and other insurance products, as well as… Read more