QBE chief executive Pat Regan's efforts to get the embattled insurer back on track met with investor approval on Monday, after the company reported an uptick in profit and surging premium rate increases across its global operations.

Two years after he replaced John Neal as chief executive following a disastrous run that ended in a loss of $US1.2 billion in 2017, Mr Regan delivered a full-year net profit of $US550 million ($818 million), up 41 per cent on 2018. Adjusted cash profit was up 6 per cent to $US733 million.