QBE sees 2009 insurance profit margin at 16-18 pct

SYDNEY, April 8 (Reuters) - QBE Insurance Group Ltd (QBE.AX), Australia's top insurer by premium income, said on Wednesday it expects an insurance profit margin of 16-18 percent of net earned premium this year.

It made the forecast in a remarks to its annual general meeting on Wednesday.

QBE's share price has fallen 28 percent so far this year, underperforming a 1.5 percent fall in the benchmark S&P/ASX 200 .AXJO index. (Reporting by Mette Fraende)