Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

QBE hikes LMI prices

Staff Reporter 3 minute read

QBE LMI today confirmed it will raise its LMI rates on higher LVR products.

Effective 31 August, QBE will implement a 20 per cent price increase on LVRs over 88 per cent.

Products with an LVR between 80 and 88 per cent will endure a 4 per cent increase while products with an LVR less than 80 per cent will remain the same.

The news follows reports yesterday that Genworth Financial would hike its LMI rates at an average of 20 per cent..

Advertisement
Advertisement

In a communication to its customers, QBE said the increase was due to current market conditions and an uncertain risk environment.

“These changes reflect the impact of higher cost of reinsurance, claims and lower returns available on market investments. Investment income is used to augment and, therefore, reduce our reliance on premium income,” the communication said.

QBE hikes LMI prices
default
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Tickets are on sale now. Work smarter, not harder, this year.

PROMOTED CONTENT


default

 

more from the adviser
Blake Albones Bank announces new head of home lending distribution

MyState Bank has hired the CEO of RateOne and former NAB head of ...

Sydney Sydney mayor launches business support, calls for JobKeeper

Sydney’s mayor has urged the federal government to resurrect Jo...

mortgage payments money Banks accused of bias against BNPL in lending process

An executive from buy now, pay later provider Zip has echoed repo...