QBE issues new employee conditional rights under incentive plan

QBE Insurance Group Limited (ASX:QBE) has notified the market of the issuance of 43,330 unquoted employee conditional rights (ASX security code: QBEAL) on October 23, 2025. These securities are part of an employee incentive scheme and are subject to transfer restrictions, meaning they will not be quoted on the ASX until the restriction period ends. The announcement, dated October 29, 2025, confirms that these newly issued securities will rank equally with existing issued securities in their class from their issue date.

The company clarified that none of these securities were issued to key management personnel (KMP) or their associates. QBE has provided a URL link to its investor relations page for further details on the employee incentive scheme rules. Following this issue, the total number of unquoted employee conditional rights (QBEAL) on issue has increased to 19,233,282.

Regarding its overall capital structure, QBE currently has 1,510,196,921 ordinary fully paid shares quoted on the ASX. In addition to the employee conditional rights, the company also has 288,121 unquoted subordinated convertible notes (QBEAJ) on issue. The company stated that the issue did not require security holder approval under Listing Rule 7.1 or 7.2.