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QBE no longer AUB substantial shareholder

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QBE has sold a stake in brokerage company AUB Group for $41.14 million, according to a notice on the Australian Securities Exchange.

The insurer sold 3.26 million shares, ceasing to be a substantial holder in the company last Thursday.

Allianz Australia also sold 3.3 million shares, representing a 5.21% stake in AUB, for $42 million at the end of last month, an ASX notice shows.