QBE Insurance : Senior Management Update

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

27 February 2017

The Manager

Market Announcements Office ASX Limited

Level 4

Exchange Centre 20 Bridge Street

SYDNEY NSW 2000

Dear Sir/Madam

Senior Management Update

Please find attached an announcement for release to the market. Yours faithfully,

Carolyn Scobie

Encl.

I

27 February 2017

QBE Insurance Group Limited (ASX:QBE) is pleased to announce the appointment of David McMillan as Group Chief Operations Officer and to provide an update regarding the role of Group Chief Financial Officer.

David joins QBE from Aviva plc where he was most recently Chief Executive Officer, Aviva Europe and Chairman of Global Health Insurance. David joined Aviva in 2002 following almost 10 years with the management consulting arm of PricewaterhouseCoopers.

John Neal, Group Chief Executive Officer, said of the appointment "David's experience and track record see him well-qualified to lead QBE's operations, claims and technology activities. As CEO of Aviva Europe David led the division through a major four-year turnaround, galvanising distribution and improving the product offering. Immediately prior to this, David was Transformation Director, working closely with the Group Chairman to build the turnaround plan for Aviva globally."

Mr McMillan will join QBE in the latter part of 2017 and will be based in the company's London office.

As QBE announced on 12 December 2016, a search for a permanent appointment to the role of Group Chief Financial Officer is currently underway. Pat Regan will remain as Acting Group Chief Financial Officer until a replacement is found, in addition to his permanent role as Chief Executive Officer, Australian and New Zealand Operations. Victor Walter has been appointed as Deputy Group Chief Financial Officer.

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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 37 countries.