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BRIEF-QBE Insurance Group Agrees to Settle Money Max Interest Pty Class Action

Published 28/12/2017, 08:10 pm
© Reuters.  BRIEF-QBE Insurance Group Agrees to Settle Money Max Interest Pty Class Action
QBE
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Dec 28 (Reuters) - Qbe Insurance Group Ltd QBE.AX :

* REACHED AN AGREEMENT TO SETTLE SHAREHOLDER CLASS ACTION PROCEEDINGS COMMENCED BY MONEY MAX INTEREST PTY LTD

* AGREED TO PAY A$132.5 MILLION IN FULL AND FINAL SETTLEMENT OF PROCEEDINGS INCLUDING INTEREST AND APPLICANT'S COSTS

* SETTLEMENT WILL NOT HAVE A MATERIAL IMPACT ON 2017 SECOND HALF EARNINGS

* SETTLEMENT IS WITHOUT ANY ADMISSION OF LIABILITY BY QBE AND IS SUBJECT TO COURT APPROVAL

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