QBE says it is not exposed to collapsed financial firm Greensill, which specialised in supply chain services.

The insurer released a statement this morning to the Australian Securities Exchange in response to media speculation following a hearing of the Parliamentary Joint Committee, Corporations and Financial Services.

“QBE advises that it has no credit exposure to Greensill entities,” the company says in the brief statement.

Greensill has entered administration after losing insurance cover, with the Federal Court earlier this month ruling against the firm in a dispute over the expiry of $US4.6 billion in trade credit cover.

IAG has also said it has no net insurance exposure to Greensill following the 2019 sale of its 50% stake in BCC Trade Credit.