How are these four ASX insurance shares faring today?

Highlights: 

• Insurance companies are known for compensating against any loss, damage, death or accident to both individuals and businesses. 
• In Australia, the insurance market primarily consists of general insurance, life insurance, health insurance and travel insurance. 

Insurance can be defined as an affirmation offered to individuals and businesses by a company that it will compensate them for any type of loss, damage, or accident, or death  (in this case a beneficiary declared by the insured is compensated by the insurer following the insured’s passing). There are four major categories of insurance in Australia – general insurance, life insurance, health insurance, and travel insurance. 

Of late, there are many companies that offer insurance services in Australia. In this article, we feature four ASX-listed insurance companies – QBE Insurance Group Limited (ASX:QBE), Suncorp Group Limited (ASX:SUN), Insurance Australia Group Limited (ASX:IAG), and AUB Group Limited (ASX:AUB) – and share with readers how they have performed on the ASX today. 

QBE Insurance Group Limited (ASX:QBE) 

QBE Insurance Group Limited (ASX:QBE) shares opened higher on the ASX on Thursday morning. QBE’s share price was quoted at AU$12.140 per share after gaining marginally by 0.998% on the ASX at 10:24 AM AEDT today. 

In the last year, QBE’s share price has marked a gain of almost 3% on the ASX, and on a year-to-date (YTD) basis, the insurance company’s share price has gained nearly by 2% on the ASX (as of 10:24 AM AEDT today).  

Founded in the year 1886, QBE Insurance Group Limited is an insurance company listed under the financial sector on the ASX. The company was founded by two entrepreneurs to start offering marine insurance services in Australia. Since that time, QBE has evolved to become a renowned international reinsurer and insurer. The company specialises in offering personal, commercial, and speciality risk management solutions and products to its customers.

QBE’s headquarters are in Sydney, Australia. The insurance company currently holds a market capitalisation of AU$17.84 billion. 

Suncorp Group Limited (ASX:SUN)

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Insurance service provider Suncorp Group Limited (ASX:SUN) opened Thursday’s trading session on the ASX on a positive note. Suncorp’s shares were quoted at AU$10.770 per share after gaining marginally by 1.317% on the ASX at 10:21 AM AEDT today. 

Over the last 12 months, Suncorp’s share price has declined almost by 13% on the ASX and on a YTD basis, the company’s share price has declined nearly by 7% on the ASX (as of 10:21 AM AEDT today). 

Suncorp Group Limited is also listed under the financial sector on the ASX. The company was founded in 1902 with the aim of offering insurance services across Australia. Suncorp claims to be the largest financial service institution in Australia, supporting millions of its customers through its network of brands.

At present, the company specialises in offering banking, wealth, insurance, and financial products and services to commercial, corporate, and retail sectors. It is also an operator of notable financial services brands in New Zealand and Australia through its three business units – Suncorp New Zealand, Insurance Australia, and Suncorp Bank. Suncorp also operates some renowned brands, namely Suncorp, AAMI, GIO, Bingle, Apia, Shannons, Terri Scheer, CIL Insurance, Vero, Essentials by AAI, AA Insurance, and Asteron Life.

Insurance Australia Group Limited (ASX:IAG) 

Insurance Australia Group Limited (ASX:IAG) shares were trading at AU$4.890 apiece at 10:30 AM AEDT on Thursday morning. 

Insurance Australia Group’s share price has declined by almost 2% on the ASX in the last 12 months, and on a YTD basis the company’s share price has gained nearly by 10% on the ASX (as of 10:30 AM AEDT today). In the last six months, IAG’s share price  has marked a gain of around 11% on the ASX. 

Founded in 1920, Insurance Australia Group Limited is an insurance company listed under the financial sector on the ASX. The company, headquartered in Sydney, Australia, aims to offer general insurance services that incorporate a wide range of commercial and personal insurance products. Apart from Australia, the Insurance Australia Group also operates in Asia and New Zealand.

The company was initially founded under the name of the National Roads and Motorists Association (NRMA). It segregated its road services and insurance services in the year 2000, thereby forming the new NRMA Insurance Group Limited. This new company eventually became Insurance Australia Group in the year 2002. At present, IAG operates through several brands, like NRMA Insurance, CGU Insurance, SGIO, SGIC, Swann Insurance, and WFI (Australia), and NZI, State, AMI, and Lumley (New Zealand). 

AUB Group Limited (ASX:AUB) 

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Australian insurance company AUB Group Limited (ASX:AUB) shares began trading on a negative note on the ASX on Thursday. AUB’s share price stood at AU$19.540 per share after shedding 1.907% on the ASX at 10:57 AM AEDT today. 

Within a span of 12 months, AUB’s share price has dropped by almost 12% on the ASX, while on a YTD basis, the company’s share price has declined nearly by 24% on the ASX (as of 10:57 AM AEDT today). 

AUB Group Limited is an ASX-listed financial service provider. The company mainly deals with underwriting agencies, insurance broking, and risk management businesses. AUB’s headquarters are in Sydney, Australia, and it currently holds a market capitalisation of AU$2.02 billion. 

Meanwhile, the S&P/ASX 200 Financials (INDEXASX:XFJ) was quoted at 6348.3 points, after shedding 0.395% or 25.2 points, at 11:43 AM AEDT today.