Fitch has affirmed its ratings for the QBE group and given QBE Re (Europe) an A+ insurance financial strength rating.

The agency says the QBE Re rating, with a stable outlook, follows a restructuring of the group’s reinsurance operations and the reorganisation of Dublin-based QBE Re (Europe).

“The affirmation of the group’s other ratings reflects improving capital ratios, financial leverage consistent with Fitch’s expectations for QBE’s ratings levels and historically robust operating performance,” it says.