Latest news with #QBE
Daily Mail
27-05-2025
- Business
- Daily Mail
Electric vehicle fires almost double in two years
Fires involving electric vehicle with lithium-ion batteries have almost doubled in two year with UK fire brigades tackling at least three blazes per day as battery-powered cars and e-bikes become more popular and commonplace on our streets. There has been a 93 per cent increase in instances recorded between 2022 and 2024, a new report from business insurer QBE revealed this week. A Freedom of Information (FOI) request to UK fire services in March discovered e-bikes are the major contributor with 362 cases last year (up from 181 in 2022). But alarmingly for drivers, the volume of electric car blazes rose by 77 per cent over the two-year period. Fires involving 'e-cars' increased from 131 to 232 between 2022 and 2024. While the number of electric cars on the road in the UK hit over one million in 2024, which makes the increase in fires seem minimal, QBE believes that the risk from EV fires is substantial due to their fire intensity, speed of ignition and the rapid spreading caused by lithium-ion batteries. Calling for improvements to lithium-ion battery safety, Adrian Simmonds from QBE Insurance, said instances of fires are 'increasing at a worrying pace' and warned they 'burn differently, take longer to tackle, typically need ten times more water to put out and are often more harmful to the surrounding environment'. The rising number of lithium-ion battery fires due e-vehicles Lithium-ion batteries can be found in most rechargeable devices, including smartphones, laptops, power tools and e-vehicles. But it's e-bikes in particular that are causing the scary rise in lithium-ion battery fires in the UK. These electric-powered bikes designed for easy cycling are being linked to almost a third (27 per cent) of all recorded lithium-ion battery blazes last year. E-bikes accounted for 362 fires in 2024, double from 181 in 2022. This means the nation's fire services tended to an e-bike fire almost every day last year. Unsurprisingly, London is the epicentre for e-vehicle blazes, accounting for almost a third of all lithium-ion battery fires in the UK last year and nearly half of all e-bike igniting (49 per cent or 178 incidents). London currently has over 40,000 e-bikes for hire, with Forest bikes and Lime bikes the most common. TfL is also expanding its fleet of 'Boris bikes' to include 2,000 e-bikes by the end of summer. Electric car fires increased by 77 per cent - up to 232 in 2024 making them the second most common e-vehicle to have a battery fire. Electric scooter battery fires increased by 32 per cent, up from 118 in 2022 to 156 in 2024, the report found. While electric mobility scooters might not have the highest combustion rates – up 20 per cent in two years from 25 in 2022 to 30 in 2024 - the threat to their users is heightened, particularly for those with limited mobility who may struggle to vacate quickly in the event of a fire. Where in the UK has the most lithium-ion battery fires? Of all the fire services in the UK, the London Fire Brigade recorded the highest number of lithium-ion battery fires in 2024. There were 407 incidents in the capital – more than four times the next highest region. Greater Manchester Fire and Rescue Service was second, reporting 100 lithium-ion battery fires, followed by West Yorkshire Fire and Rescue - which covers Leeds and Bradford - reporting 94 lithium-ion battery fires. In terms of the whereabouts blazes sparked, the most frequent is at residential properties, followed by outdoors and commercial premises. Why lithium-ion battery fires are particularly dangerous and what's being done about it Lithium-ion battery fires are the result of 'thermal runaway', where batteries start to irreversibly overheat, usually due to impact damage, over-charging or over-heating. In the case of electric cars, batteries are extremely powerful. So, even though they are relatively uncommon, any fire can result in explosive incidents that are significantly more energetic, causing extensive damage, and potentially injury or even death. In light of the risk these fires could have to e-transport users, the Department for Business and Trade (DBT) launched the 'Buy Safe, Be Safe' campaign in October 2024, advising consumers to avoid rogue online sellers and prioritise safe purchases. Additionally, the Product Regulation and Metrology Bill, currently under parliamentary review, aims to strengthen safety standards for products sold in the UK. As personal e-transport becomes more popular and more electric cars hit the road, QBE says there is a growing need for better public education on safe battery use and fire prevention. Simmonds warned: 'People need to understand the risks [with lithium-ion battery fires] and how to deal with them. 'While QBE supports the adoption of e-transport, we also call for stricter regulation. 'For instance, the UK should stop the sale of rogue e-bikes and other unregulated devices. This could be done in the Product Regulation and Metrology Bill, which is going through Parliament. 'In the meantime, consumers should purchase e-bikes and e-scooters from reputable companies, so retailers that show they take quality and compliance seriously with a genuine CE mark. 'Raising awareness around safe charging, use and disposal of lithium-ion batteries is critical to keeping people and property safe.'
Yahoo
27-05-2025
- Business
- Yahoo
QBE Insurance Group's (ASX:QBE) five-year earnings growth trails the solid shareholder returns
When you buy a stock there is always a possibility that it could drop 100%. But on the bright side, you can make far more than 100% on a really good stock. Long term QBE Insurance Group Limited (ASX:QBE) shareholders would be well aware of this, since the stock is up 166% in five years. And in the last month, the share price has gained 8.5%. But this could be related to good market conditions -- stocks in its market are up 5.1% in the last month. Since it's been a strong week for QBE Insurance Group shareholders, let's have a look at trend of the longer term fundamentals. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. Over half a decade, QBE Insurance Group managed to grow its earnings per share at 21% a year. This EPS growth is remarkably close to the 22% average annual increase in the share price. Therefore one could conclude that sentiment towards the shares hasn't morphed very much. Rather, the share price has approximately tracked EPS growth. The image below shows how EPS has tracked over time (if you click on the image you can see greater detail). We consider it positive that insiders have made significant purchases in the last year. Even so, future earnings will be far more important to whether current shareholders make money. Before buying or selling a stock, we always recommend a close examination of historic growth trends, available here.. When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. As it happens, QBE Insurance Group's TSR for the last 5 years was 206%, which exceeds the share price return mentioned earlier. And there's no prize for guessing that the dividend payments largely explain the divergence! We're pleased to report that QBE Insurance Group shareholders have received a total shareholder return of 37% over one year. That's including the dividend. Since the one-year TSR is better than the five-year TSR (the latter coming in at 25% per year), it would seem that the stock's performance has improved in recent times. Someone with an optimistic perspective could view the recent improvement in TSR as indicating that the business itself is getting better with time. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. Even so, be aware that QBE Insurance Group is showing 1 warning sign in our investment analysis , you should know about... QBE Insurance Group is not the only stock that insiders are buying. For those who like to find lesser know companies this free list of growing companies with recent insider purchasing, could be just the ticket. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Australian exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
AU Financial Review
09-05-2025
- Business
- AU Financial Review
QBE says cash buffer more than covered recent spate of catastrophes
An allowance set aside by QBE to protect it from natural catastrophe claims more than covered policyholders hit by natural disasters during the first quarter, from wildfires in Los Angeles, to Queensland floods and cyclone Alfred. In a financial update ahead of its AGM on Friday, QBE said it paid out $420 million to customers hit by catastrophes in Australia and the United States compared to a first-half allowance of $549 million over the four months to April. An additional $611 million is set aside to protect it from wild weather events that might emerge in the second half.
Sydney Morning Herald
08-05-2025
- Business
- Sydney Morning Herald
ASX set for flat open; US stocks gain as Trump says ‘buy' before China talks
The Australian sharemarket is set for a flat open, even as Wall Street rose overnight after Donald Trump announced a trade deal with the UK, made encouraging comments on this weekend's trade talks with China and said investors should buy shares now. ASX futures were up 3 points, or less than 0.1 per cent, at 8216 as of 6.59am AEST. The expected lukewarm open will come after a sluggish session on Thursday, when the S&P/ASX 200 edged up 0.2 per cent. The Australian dollar was trading at US64.02¢. A focus for local investors will be earnings from companies including investment bank Macquarie Group, insurance giant QBE, Rupert Murdoch's News Corp and property listings site REA Group. News Corp said after the close of US trading its third-quarter earnings jumped 67 per cent to $US107 million as it had lower restructuring charges than last year, while sales edged up 1 per cent to $US2 billion. On Wall Street overnight, the S&P 500 Index ended up 0.6 per cent higher, after earlier jumping as much as 1.6 per cent when Trump announced a framework trade agreement with the UK - the first such deal to be struck since his unilateral declaration of 'reciprocal tariffs' on April 2. Both sides acknowledged the details were yet to be finalised. The Nasdaq 100 Index advanced 1 per cent, and the Dow Jones Industrial Average gained 0.6 per cent. Riskier corners of the market clocked in stronger gains, with the small-cap Russell 2000 Index climbing 1.9 per cent, a Goldman Sachs basket of heavily shorted stocks rising 3.1 per cent, and another Goldman index of unprofitable tech names up 3.6 per cent. 'This country will hit a point that you better go out and buy stock. Now, let me tell you this, this country will be like a rocket ship that goes straight up.' Donald Trump 'Tariffs are steering the boat again,' said Louis Navellier, chief investment officer at Navellier & Associates. 'We are seeing a risk-on sentiment. The fear of missing out on favourable agreements being reached has limited the number of sellers.' Bitcoin topped $US100,000. As the safety bid ebbed, gold and haven currencies fell. Short-term Treasury yields surged as traders pared bets on rate cuts.
The Age
08-05-2025
- Business
- The Age
ASX set for flat open; US stocks gain as Trump says ‘buy' before China talks
The Australian sharemarket is set for a flat open, even as Wall Street rose overnight after Donald Trump announced a trade deal with the UK, made encouraging comments on this weekend's trade talks with China and said investors should buy shares now. ASX futures were up 3 points, or less than 0.1 per cent, at 8216 as of 6.59am AEST. The expected lukewarm open will come after a sluggish session on Thursday, when the S&P/ASX 200 edged up 0.2 per cent. The Australian dollar was trading at US64.02¢. A focus for local investors will be earnings from companies including investment bank Macquarie Group, insurance giant QBE, Rupert Murdoch's News Corp and property listings site REA Group. News Corp said after the close of US trading its third-quarter earnings jumped 67 per cent to $US107 million as it had lower restructuring charges than last year, while sales edged up 1 per cent to $US2 billion. On Wall Street overnight, the S&P 500 Index ended up 0.6 per cent higher, after earlier jumping as much as 1.6 per cent when Trump announced a framework trade agreement with the UK - the first such deal to be struck since his unilateral declaration of 'reciprocal tariffs' on April 2. Both sides acknowledged the details were yet to be finalised. The Nasdaq 100 Index advanced 1 per cent, and the Dow Jones Industrial Average gained 0.6 per cent. Riskier corners of the market clocked in stronger gains, with the small-cap Russell 2000 Index climbing 1.9 per cent, a Goldman Sachs basket of heavily shorted stocks rising 3.1 per cent, and another Goldman index of unprofitable tech names up 3.6 per cent. 'This country will hit a point that you better go out and buy stock. Now, let me tell you this, this country will be like a rocket ship that goes straight up.' Donald Trump 'Tariffs are steering the boat again,' said Louis Navellier, chief investment officer at Navellier & Associates. 'We are seeing a risk-on sentiment. The fear of missing out on favourable agreements being reached has limited the number of sellers.' Bitcoin topped $US100,000. As the safety bid ebbed, gold and haven currencies fell. Short-term Treasury yields surged as traders pared bets on rate cuts.
