QBE to fight shareholder class action

QBE says it will defend itself in a class action launched by shareholders angry at a plunge in its share price in late 2013.

Global insurer QBE will fight a $200 million class action launched by shareholders angry about a plunge in its share price two years ago.

QBE is being sued by more than 700 Australian investors who want to recover money lost when the insurer's share price suffered its biggest single-day fall in more than a decade in December 2013.

Maurice Blackburn Lawyers claim QBE made statements in August 2013 that misled investors and gave them false confidence in the shares.

"These allegations will be defended," QBE said in a brief statement on Thursday.