QBE redeems notes, appoints new group chair

QBE Insurance Group Limited has completed the redemption of its $300,000,000 6.10% fixed rate subordinated notes due 2045, issued in 2015. The redemption, effective November 12, 2025, leads to the cancellation and delisting of these notes from the Singapore Exchange Securities Trading Limited (SGX-ST). These subordinated notes were eligible as Tier 2 Capital and were convertible into ordinary shares in QBE under specific conditions if APRA deemed QBE non-viable.

In a separate announcement, QBE revealed Yasmin Allen AM as the new group chair, effective May 8, 2026, succeeding Mike Wilkins AO, who will retire at the company’s AGM in May 2026. Ms. Allen joined the QBE Group Board in July 2022 as an independent non-executive director, bringing extensive experience across various sectors. The company reported a total of 1,510,196,921 ordinary fully paid shares and 289,621 subordinated convertible notes (QBEAJ) on issue following the redemption.