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AAP
AAP
Derek Rose

Impact of war in Middle East hits insurer's bottom line

QBE Inflation Insurance Iran Sydney
Insurance heavyweight QBE posted a first half profit of $US1.03 billion. (Luis Enrique Ascui/AAP PHOTOS)

Shares in a Sydney-based global insurance company have sunk to a two-month low after impacts from the war with Iran and issues with its US portfolio dented its profitability.

QBE shares had fallen 3.9 per cent to $22.555 in early trading on Friday, after the insurer posted a first half profit of $US1.03 billion, up one per cent from a year ago.

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