The QBE Insurance Group Ltd (ASX: QBE) share price is in focus after the company announced it will redeem its USD$300 million 6.10% Fixed Rate Subordinated Notes due 2045 in November. The move follows approval from APRA to proceed with the full cash redemption at principal amount plus accrued interest.
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What did QBE Insurance Group report?
- Redeeming USD300 million of 6.10% Fixed Rate Subordinated Notes (ISIN XS1311098815) issued in 2015
- Redemption date: 12 November 2025
- Notes to be redeemed for their principal amount plus accrued and unpaid interest
- Redemption approved by APRA
- Action does not imply future redemptions of other regulatory capital instruments
What else do investors need to know?
QBE's decision to redeem the notes comes as part of its ongoing capital management approach. The company notes that any future redemptions would also require prior approval from APRA and are not guaranteed.
This redemption does not impact QBE's existing operations or other outstanding regulatory capital instruments, so investors holding different securities are unaffected by this announcement.
What's next for QBE Insurance Group?
QBE will complete the redemption on 12 November 2025, paying all principal and accrued interest to noteholders. The company says there is no current intention to redeem other capital securities unless regulatory approvals are obtained.
Investors can expect QBE to maintain a disciplined approach to capital management as regulatory and market conditions evolve.
QBE Insurance Group share price snapshot
QBE Insurance shares have risen 26% over the past year, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 8% over the same period.
