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Mark A. Hofmann

Australian Securities Exchange halts trading of QBE shares

December 6, 2013 - 1:25pm

The Australian Securities Exchange Ltd. has halted trading of ordinary shares of QBE Insurance Group Ltd. at the Australian insurer’s request until the issuance of a market release on Monday, QBE announced Friday.

In its Friday request to the securities exchange, Sydney-based QBE said it made the request for a trading halt in order to allow the insurer time to finalize “its analysis of information and review by the board, predominantly in relation to its North American operations, and the impact on QBE’s forecast financial result for the year” ending on Dec. 31.

QBE requested that the trading halt remain in place until issuance of a market release on Monday, adding that was “necessary as otherwise trading in QBE ordinary shares would continue on an uninformed basis.”

The securities exchange granted the request, saying that unless it decided otherwise, the halt would remain in place until the beginning of trading Tuesday or the release of the market announcement.