December 28, 2017 / 9:11 AM / 21 days ago

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

Dec 28 (Reuters) - Qbe Insurance Group Ltd:

* 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​ Source text for Eikon: Further company coverage:

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