QBE CEO Frank O’Halloran has again demonstrated his supreme confidence in the company’s future by raising $270 million to fund expected premium growth, with the issue of its debt-based security – Liquid Yield OptioN securities (LYONs).

The debt-based security is expected to lower the average annual cost of debt from 5.2% to 4.8%. QBE’s general counsel and company secretary, Duncan Ramsay, told the ASX that the increase in long term debt was “in line with QBE’s statements to the market last week”.