QBE LMI earns "A+" S&P Rating

This after the release of the ratings agency's updated criteria

QBE LMI earns "A+" S&P Rating


By Mina Martin

QBE Lenders’ Mortgage Insurance (LMI) has announced its upgraded “A+” S&P Global Rating – a testament to its robust risk-based capital and financial strength.

The change came in response to S&P Global Ratings’ updated criteria for assessing insurers’ risk-based capital. The updated criteria had a positive effect on QBE LMI's solid capital adequacy, leading to an upgrade in its Financial Risk profile by S&P from Strong to Very Strong. With a stable ratings outlook, S&P expects QBE LMI to sustain very strong capital and sound earnings.

After the upgrade, QBE LMI has become the highest S&P rated private LMI provider in Australia.

Patricia Priest, general manager of LMI at QBE Australia Pacific, said the upgrade affirmed the company’s commitment to delivering reliable and robust mortgage insurance solutions.

“An upgrade to an ‘A+’ rating from S&P Global Ratings underscores the strength of our risk management, capital, reinsurance structure, diverse customer partnerships, geographic coverage, and strong parent company,” Priest said.

“This recognition not only reaffirms our commitment to delivering exceptional value to our partners and stakeholders, but also to maintaining our position as a market leading player in the LMI market in Australia.”

Key factors contributing to the upgraded rating include an effective quota share reinsurance structure, strong parental support from QBE, and a prominent market share with a diverse customer base.

QBE LMI’s partnerships span major banks, regional lenders, international banks, and a significant share of customer-owned authorized deposit-taking institutions (ADIs).

For more details on QBE LMI’s S&P Global Rating, visit the S&P Global Rating website.

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