QBE will pay $132.5 million to settle a class action instigated after the group’s share price plunged following a profit warning in 2013.

Money Max Int started the proceedings on September 9 2015 in the Federal Court, on behalf of shareholders who bought QBE stock between August 20 and December 6 2013.

The shares dived the Monday after the company said it would suffer a full-year loss of about $US250 million ($308 million), driven by writedowns on its US operations.

The settlement, which includes interest and costs, is without any admission of liability and is subject to court approval.