QBE Insurance says no plans for new IAG bid

SYDNEY, Aug 21 (Reuters) - QBE Insurance Group Ltd (QBE.AX), said on Thursday it does not plan to revisit an acquisition of rival Insurance Australia Group Ltd (IAG.AX) after scrapping a bid earlier this year.

"We have made our decision ... we have gone out and made other acquisitions. We are looking at other acquisitions overseas rather than Australia," Chief Executive Frank O'Halloran told reporters on Thursday.

Earlier, QBE reported a 7 percent fall in first-half profit due to weaker investment returns. [nSYD102128]. ($1=A$1.15) (Reporting by Denny Thomas)