QBE INSURANCE GROUP LIMITED 
By QBE Insurance Group Limited ABN 28 008 485 014
Level 27, 8 Chifley Square, SYDNEY NSW 2000 Australia
GPO Box 82, Sydney NSW 2001
telephone + 612 9375 4444 • facsimile + 612 9231 6104
www.qbe.com
16 April 2014
The Manager
Market Announcements Office
ASX Limited
Level 4
Exchange Centre
20 Bridge Street
SYDNEY NSW 2000
Dear Sir/Madam
QBE announces conversion of Subordinated Convertible Debt SecuritiesPlease refer to the attached Market Release. Yours faithfully
Duncan Ramsay
Company Secretary MARKET RELEASE16 April 2014
QBE announces conversion of Subordinated Convertible Debt Securities
QBE today announced that the remaining US$250 million of its lower tier 2 subordinated debt securities issued on 11 December 2012 ("the Securities") will convert into QBE ordinary shares on 11
June 2014.
A conversion notice has been received from the investor and in accordance with the terms of the Securities, the Securities will convert into a variable number of QBE ordinary shares, the number of which will be determined using the volume weighted average sale price of QBE ordinary shares, less a discount of 1% and converted to US dollars, on each of the days in the 35 trading days prior to the conversion date of 11 June 2014.
For further information, please contact:
Group Head of Investor Relations
Tony Jackson
Tel: +61 2 9375 4364 investor.relations@qbe.com
ABN 28 008 485 014
8 Chifley Square
SYDNEY NSW 2000
Australia www.qbe.com
David Symons
Tel: +61 (2) 8306 4244
Cell: +61 (0) 410 559 184
Email: david@catocounsel.com.au
QBE Insurance Group Limited is listed on the Australian Securities Exchange, is one of the top 20 global insurance and reinsurance companies as measured by net earned premium and has operations in 43 countries.
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