Business
QBE) share price has tanked 5% today
The QBE Insurance Group Ltd (ASX: QBE) share price is under pressure in early trade after an update from the Aussie insurer.
Shares in the $12 billion insurer are down 5.6% to $8.09 in early trade following this morning’s announcement.
Why is the QBE share price under pressure?
The latest share price move comes after a business interruption update from QBE. The company provided an update on the test case before the UK Supreme Court. The appeal is against the UK High Court’s September 2020 ruling in the UK Financial Conduct Authority (FCA) case.
The FCA case was undertaken to resolve legal issues concerning the interpretation of common business interruption policy wordings. That includes some wordings in QBE’s UK operations,…
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