QBE Insurance Group Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	2,157	1,779	1,355	587	750
Depreciation & Amortization	88	91	103	107	115
Other Amortization	93	81	65	64	51
Gain (Loss) on Sale of Assets	-18	-2	-2	-38	-
Gain (Loss) on Sale of Investments	-616	-412	-631	1,295	409
Stock-Based Compensation	64	59	42	39	32
Change in Accounts Receivable	-	-	-	-	-1,920
Reinsurance Recoverable	905	-1,548	-818	29	-
Change in Accounts Payable	-	-	-	-	1,755
Change in Unearned Revenue	-	-	-	-	1,422
Change in Deferred Taxes	282	155	335	7	68
Change in Insurance Reserves / Liabilities	1,336	2,361	1,087	620	753
Change in Other Net Operating Assets	-71	-41	-78	117	-227
Other Operating Activities	-16	32	18	-12	11
Operating Cash Flow	4,223	2,575	1,503	2,833	2,754
Operating Cash Flow Growth	64.00%	71.32%	-46.95%	2.87%	123.18%
Capital Expenditures	-22	-27	-23	-33	-29
Sale of Property, Plant & Equipment	9	-	-	-	-
Purchase / Sale of Intangible Assets	-113	-125	-145	-132	-91
Investment in Securities	-2,701	-1,218	-246	-2,017	-2,635
Other Investing Activities	-46	-109	-23	-186	-20
Investing Cash Flow	-2,868	-1,476	-428	-2,007	-2,771
Long-Term Debt Issued	1,182	687	405	-	550
Total Debt Repaid	-355	-757	-461	-474	-287
Net Debt Issued (Repaid)	827	-70	-56	-474	263
Repurchases of Common Stock	-1,096	-1	-1	-1	-
Common Dividends Paid	-807	-674	-441	-347	-162
Other Financing Activities	-	-	-	32	-
Financing Cash Flow	-1,076	-745	-498	-790	101
Foreign Exchange Rate Adjustments	-48	-82	-44	-22	-31
Net Cash Flow	231	272	533	14	53
Free Cash Flow	4,201	2,548	1,480	2,800	2,725
Free Cash Flow Growth	64.87%	72.16%	-47.14%	2.75%	128.22%
Free Cash Flow Margin	22.45%	13.96%	6.83%	14.55%	20.14%
Free Cash Flow Per Share	2.76	1.68	0.99	1.88	1.84
Cash Interest Paid	240	232	240	246	238
Cash Income Tax Paid	399	341	138	74	88
Levered Free Cash Flow	3,673	2,177	-830.88	-18,206	538.63
Unlevered Free Cash Flow	3,787	2,279	-725.25	-18,103	649.25
Change in Working Capital	2,452	927	526	773	1,377

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.