QBE punished as price rises peak

QBE is slowing the pace of premium increases on consumers as heightened competition and tighter household budgets constrain its ability to push up prices and widen profit margins.

While after-tax profits at the insurance giant doubled to $US801 million ($1.2 billion) in the six months to June 30, investors punished the company after it just missed expectations and flagged that rapid price increases had begun to slow.