0422 GMT - QBE Insurance gets a new bull at CLSA on the Australian insurer's offshore exposure. Raising CLSA's recommendation on the stock to outperform from hold, one of the investment group's analysts tells clients in a note that they see more growth opportunities overseas than in domestic markets. "Our recommendation changes reflect a growing confidence in QBE's ability to navigate successfully a tricky global commercial insurance pricing environment and to maintain a reasonable earnings growth profile," the note says. The analyst makes QBE their pick of ASX-listed general insurers. They write that they are increasingly uneasy about domestic challenges, particularly a heavy reliance on higher premiums to maintain their gross-written premium growth. CLSA raises its target price 5.4% to 25.25 Australian dollars. Shares are 1.4% higher at A$23.255.