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Report: QBE Insurance off-loads stake in AUB Group

QBE Insurance Group Ltd. divested its 5.2% stake in AUB Group Ltd. for A$41.2 million, The Australian Financial Review's Street Talk blog reported March 8.

The Australian insurer sold 3.3 million shares for A$12.65 per share. The shares were purchased by a "handful" of institutional investors, the blog noted.

Macquarie Group Ltd.'s equities desk did the trade.

In 2017, QBE reduced its stake in the broker after selling a 9% stake at A$10.70 per share.