Reinsurance News

Your search for “QBE”

QBE sells Irish portfolio renewal rights to Ascot

28th September 2022

Australia headquartered insurer QBE has announced the sale of select Irish Casualty commercial insurance portfolios to the Ascot Group via a renewal rights transaction. The sale follows QBE’s decision earlier this year to conduct a phased withdrawal from underwriting certain Republic of Ireland-domiciled direct insurance business. Under the terms of the deal, ... Read the full article

QBE appoints Gill Rhodes as Regional Underwriting Manager to expand UK financial lines

14th September 2022

QBE has announced the appointment of Gill Rhodes as Regional Underwriting Manager to expand its UK financial lines capabilities. Rhodes holds two decades of financial lines underwriting experience and joins from Chubb, where she was Northern Region Financial Lines Manager. In the newly created role, Rhodes will be responsible for QBE’s Financial Lines ... Read the full article

QBE Re to make Chris Killourhy managing director from September

18th August 2022

QBE Re has said that Chris Killourhy is to become the new managing director of the firm from the beginning of September. The move, still subject to regulatory approval, will see Killourhy move from his current role as chief financial officer for QBE International. Jason Harris, CEO of QBE International, said: “We ... Read the full article

QBE profits drop on huge investment loss

11th August 2022

QBE announced statutory net profit after tax of $151 million for the first half of 2022, compared with $441 million in the same six-month period last year. The drop mainly owed to an H1 investment loss of $840 million, versus a return of $58 million last year, which QBE said had ... Read the full article

QBE faces USD 75m remediation cost as policy pricing promise ‘not fully delivered’

20th July 2022

Australian insurer QBE will record a USD 75 million pre-tax remediation cost in 1H 2022 as part of its investigation into pricing practices, which is part of a wider industry review by the Australian Securities and Investment Commission (ASIC). QBE has been investigating pricing practices dating back numerous years, across various ... Read the full article

QBE announces Hobson as Head of Surety, UK

8th July 2022

Insurer QBE has announced the appointment of Leroy Hobson as its new Head of Surety, UK. Leroy has over 25 years experience in the surety market, having held Head of Surety roles at Zurich, Chubb and Aon. In his new role he will be responsible for driving profitable ... Read the full article

QBE Re makes promotions and appointments at NY office

5th July 2022

Reinsurance firm QBE Re has announced several promotions and appointments for its New York office. Salvatore Sama has been appointed head of US financial and professional lines and casualty treaty. He joined QBE Re in April 2021 as senior vice president and head of US financial and professional lines from Swiss ... Read the full article

Catalina General completes loss portfolio transfer from QBE

30th June 2022

Leading provider of retrospective reinsurance and capital solutions, Catalina Holdings (Bermuda) Ltd, has announced that its wholly owned Bermuda-domiciled reinsurance company - Catalina General Insurance Ltd has completed a previously announced loss portfolio transfer retrocession agreement with subsidiaries of QBE Insurance Group Ltd. The agreement relates to QBE’s legacy North American ... Read the full article

Moody’s shifts outlook on QBE from ‘negative’ to ‘stable’

27th June 2022

Moody’s has changed its outlook on QBE from negative to stable, affirming its A3 issuer rating. At the same time, Moody’s said it affirmed the A1 insurance financial strength ratings (IFSR) of QBE's main operating subsidiaries and had changed the outlooks to stable from negative. Moody’s said in a note: “The change ... Read the full article

QBE to roll out products from CyberCube

21st June 2022

Australia-headquartered insurer and reinsurer QBE has announced plans to roll out a range of products from cyber risk analytics firm CyberCube, including its Account Manager and Portfolio Manager platforms. In addition, QBE will be utilising the CyberCube Academy, the firm’s training offering, as well as accessing CyberCube’s enhanced Concierge service. “As one ... Read the full article

Postlewhite to stand down as QBE Re Managing Director

16th June 2022

QBE has announced that Steve Postlewhite, Managing Director of QBE Re, has decided to leave the business following a four-year tenure. Peter Wilkins is to assume the role of interim Managing Director and will oversee QBE Re’s new global alignment strategy and development plans, which were disclosed back in May. The ... Read the full article

QBE to drive EU expansion with branch in the Netherlands

10th June 2022

Australian insurer and reinsurer, QBE Insurance Group Limited has announced plans to set up a branch in the Netherlands. The planned branch will play a major role in the company’s European expansion plans. QBE has noted that recruitment is underway to fill a number of different key roles for the Netherlands branch, ... Read the full article

QBE hires Bannocks as Group Chief Data Officer

31st May 2022

QBE Insurance Group has appointed Christopher Bannocks to the new position of Group Chief Data Officer (GCDO). As GCDO, Bannocks will lead QBE’s enterprise data capabilities, with responsibility for defining and implementing the company’s data strategy and agenda. This new role will also allow him to work closely with central and regional ... Read the full article

QBE and MS First Capital lose Singaporean Covid-19 case

24th May 2022

A court in Singapore has ruled that insurers must pay out under their commercial insurers’ policies for losses arising from Covid-19 lockdowns. According to the Straits Times, a Singaporean newspaper, that country’s High Court has found QBE Insurance and MS First Capital Insurance liable to indemnify the owner of Le Meridien ... Read the full article

QBE names Andy Fitzgerald as Director of UK Regions

10th May 2022

QBE has announced the appointment of Andy Fitzgerald as Director, UK Regions. Fitzgerald was previously QBE UK Insurance Division’s Regional Manager for the North Region, having joined QBE in 2012. In the newly created role, he will now be responsible for the leadership of the UK regions and focus on growing these ... Read the full article