QBE Insurance : Results of Tender Offer for Senior Notes

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

12 December 2014

The Manager

Market Announcements Office

ASX Limited

Level 4

Exchange Centre

20 Bridge Street

SYDNEY NSW 2000

Dear Sir/Madam

Peter Horton

Encl.

12 December 2014

As previously announced, on 2 December 2014 QBE Insurance Group Limited (QBE) launched an invitation to holders of its £550,000,000 6.125 per cent notes due 2015 (the "Notes") to tender their Notes for purchase by QBE for cash (the "Offer").
The Offer expired at 4pm (London time) on 10 December 2014 and QBE announces that the maximum acceptance amount under the Offer has been increased to £215,000,000 (from £200,000,000) and that QBE will purchase £215,000,000 of Notes accordingly.
The expected Settlement Date for the Offer is 15 December 2014.

This market announcement has been prepared for publication in Australia only and may not be released elsewhere. This market announcement does not constitute an offer of securities for sale in Australia, the United States or any other jurisdiction. Any securities described in the market announcement may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933 or an exemption from registration.

For further information, please contact:

Group Head of Investor Relations

Tony Jackson

Tel: +61 2 9375 4364 investor.relations@qbe.com

David Symons

Tel: +61 (2) 9212 4666

Cell: +61 (0) 410 559 184

Email: david@catocounsel.com.au

ABN 28 008 485 014

8 Chifley Square

SYDNEY NSW 2000

Australia

QBE Insurance Group Limited is listed on the Australian Securities Exchange, is recognised as one of the top 20 global insurance and reinsurance companies as measured by net earned premium and has operations in 46 countries.

distributed by