QBE issues new profit warning after cat losses

QBE has issued its second profit warning in less than four
months, saying that recent catastrophe events would shave $600mn
from pre-tax earnings this year.
The group's 2017 combined operating ratio target range has
now moved to 100 percent to 102 percent following losses from
hurricanes Harvey, Irma and Maria and the Mexican earthquakes.
QBE has also faced a significant number of claims from Cyclone
Debbie, the Category 4 cyclone that struck Australia in March, and
has a one-off $156mn...