QBE, SUN, IAG: How are these ASX financial stocks faring?

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Highlights

  • The ASX200 financial sector closed in red today. 
  • Shares of QBE Insurance closed tad down on the ASX. 
  • Suncorp shares too closed a little lower, most likely because of the overall bearish sentiment on the ASX today. 

The S&P/ASX200 Financials sector (ASX:XFJ) ended today’s trading day at 6567.500, down 0.406% on the ASX today (26 May). 

This article primarily focuses on three leading insurance stocks from the ASX200 Financials sector- QBE Insurance Group, Suncorp Group, and Insurance Australia Group and talks about their performance on the ASX today. 

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QBE Insurance Group Limited (ASX:QBE) 

The shares of QBE Insurance Limited (ASX:QBE) ended 0.244% lower at AU$12.230 per share on the ASX today (26 May). Over two million shares of QBE Insurance were traded today. 

The share price of QBE Insurance has gained almost by 11% on the ASX over the past 12 months. Also, QBE's year-to-date share price gained 2.60% (as of 26 May).

QBE Insurance Group is a leading ASX-listed insurance company with a market capitalisation of AU$18.18 billion. The company is primarily a provider of reinsurance risks and underwriting general insurance services to its clients. There is no significant announcement from the company on the ASX today to justify the upward share price march. The company successfully paid a dividend to its shareholders in 2022, 2021 and even 2020 (the most crucial year during the COVID-19 pandemic).  

The company was established in the year 1970 with its headquarter in Sydney. Besides Australia, QBE's services are spread across various parts of the world, such as North America, Europe, and New Zealand.

Suncorp Group Limited (ASX:SUN) 

The shares of Suncorp Group Limited (ASX:SUN) closed 0.246% higher at AU$12.130 per share on the ASX today (26 May). Approximately 3.3 million shares of Suncorp were traded during today's trading session on the ASX. 

The share price of Suncorp has gained almost by 9.87% on the ASX over the past 12 months. Also, Suncorp's year-to-date share gained approximately by 6% (as of 26 May). 

Suncorp recently announced the redemption of its capital notes worth AU$375 million. The company has already secured approval from APRA on its decision to redeem the capital notes. The owners of Suncorp capital notes are supposed to receive their redemption amount on 17 June 2022. 

Read more: Suncorp (ASX:SUN) redeems capital notes worth AU$375M

Insurance Australia Group Limited (ASX:IAG) 

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The shares of Insurance Australia Group Limited (ASX:IAG) ended 0.886% lower at AU$4.470 per share on the ASX today (26 May). More than three million shares of Insurance Australia Group were traded on the ASX. 

The share price of Insurance Australia Group has fallen over 8% on the ASX in the past 12 months. On the other hand, IAG's year-to-date share price gained 0.22% (on 26 May). 

Although there is no significant announcement from the company on the ASX today, yet the stock has traded heavily till now. IAG belongs to the ASX 200 Financials sector with a market capitalisation of AU$11.11 billion. 

Also read: Westpac (ASX:WBC) shares up on merging super assets, selling Advance


 


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