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QBE posts H1 loss, as virus claims near reinsurance trigger
13th August 2020
Australian insurer QBE has posted an AU $712 million (US $510 million) loss for the first half of 2020, driven by underwriting impacts from COVID-19, large catastrophe losses, and a poor investment performance. The results compare with a profit of $463 million for the same period last year, as performance was ... Read the full article
QBE reports $335mn COVID-19 loss ahead of H1 results
22nd July 2020
Ahead of the release of its results for H1 2020, Australian insurer QBE has reported that it expects to incur a COVID-19 underwriting impact of around $335 million for the period. The group is anticipating a combined operating ratio of around 104% for the first half of the year, reflecting COVID-19 ... Read the full article
QBE North America adds Toria Lessman to SVP role
9th July 2020
QBE North America has announced the appointment of Toria Lessman as Senior Vice President, Head of Professional Lines and Industry Verticals. Lessman had most recently been serving as Head of Transactional Liability, a key business line in the Professional Lines portfolio. In her new role, she will assume responsibility for evaluating the ... Read the full article
Compre signs further legacy transaction with QBE
3rd July 2020
Leading specialist legacy acquirer Compre has today announced the signing of its second legacy transaction with QBE for an undisclosed sum. This transaction follows Compre’s acquisition of QBE’s share of the Ridgwell Fox & Partners pool legacy reinsurance business in 2016. “I am extremely pleased to announce the conclusion of our second ... Read the full article
QBE NA adds Woosley as SVP, Broker Management & Sales Operations
4th June 2020
QBE North America has announced the appointment of Thaddeus Woosley as Senior Vice President, Broker Management & Sales Operations. Before joining QBE in February 2020, Woosley worked at Aon for 15 years in a variety of leadership roles of increasing responsibility. Most recently at Aon, he served as Vice President – Global ... Read the full article
QBE NA promotes Gransbury to lead new specialty insurance unit
28th May 2020
The North American division of global insurer QBE has promoted Steve Gransbury as head of specialty insurance, a newly created group of existing QBE businesses. Tara Krauss has been promoted to Gransbury’s previous role as head of accident & health. Gransbury now leads a specialty insurance unit consisting of A&H, aviation and ... Read the full article
Reinsurance will cap UK BI costs at $75mn, says QBE
26th May 2020
Australian insurer QBE has said that its reinsurance coverage should limit the costs of COVID-19 related business interruption (BI) claims to £75 million in the UK. However, the company maintained that its BI policies do not typically cover claims arising from COVID-19. “Many businesses are facing an extremely concerning time at present ... Read the full article
QBE commits AUD 2.6mn to global COVID-19 response effort
20th April 2020
QBE Insurance Group Limited has announced AUD 2.6 million (approx. USD 1.7mn) in direct funding to support the global response to the COVID-19 coronavirus pandemic. The insurer states that these funds will be disbursed via the QBE Foundation's existing global charity and not-for-profit partners, designed to help agencies experiencing greater demand ... Read the full article
QBE buys more cat reinsurance amid COVID-19 capital raise
14th April 2020
Australian re/insurer QBE has announced that it plans to purchase additional catastrophe reinsurance as part of a new capital plan to withstand the impacts of the coronavirus (COVID-19) pandemic. In response to the “unprecedented economic and investment market uncertainty” caused by COVID-19, QBE has said that it will pre-emptively lift regulatory ... Read the full article
QBE names Jason Harris as CEO, International
7th April 2020
QBE Insurance Group has announced that Jason Harris will take over the role of Chief Executive Officer (CEO), International from Richard Pryce, who is set to retire at the end of the year. Harris joins QBE from AXA XL where he held the position of Chief Executive, Global Property and Casualty ... Read the full article
COVID-19 uncertainty sees QBE withdraw 2020 targets
30th March 2020
Ongoing economic and investment market uncertainty as a result of the global COVID-19 pandemic has led QBE Insurance Group Limited to withdraw its 2020 financial targets. The insurer announced in mid-February a full-year 2019 combined operating ratio of 97.5%, above the target range of 94.5% to 96.5%. Within its results announcement, ... Read the full article
QBE North America appoints Dan Moore COO
12th March 2020
The North American division of global insurer QBE has appointed Dan Moore as Chief Operating Officer. Effective immediately, Moore will lead claims, technology and operations and oversee communications and branding. He reports to QBE North America Chief Executive Officer Todd Jones and will serve as a member of the company’s executive committee. Moore ... Read the full article
Stephen Postlewhite to lead QBE Re as managing director
25th February 2020
Global insurer QBE has appointed Stephen Postlewhite as managing director of its reinsurance operations. Postlewhite’s new role will take effect on April 1 and he replaces Jonathan Parry, who is set to retire in 2021. He steps into the role after two years at QBE Re, having most recently served as deputy ... Read the full article
QBE’s combined operating ratio rises on US crop losses
17th February 2020
QBE Insurance Group Limited has reported that the impacts of adverse weather conditions on its US crop insurance business, combined with the significant level of claims from the Australian bushfires, pushed its full year 2019 combined operating ratio above the target range. The Australian insurer announced in December that it ... Read the full article
Mike Wilkins takes over as Chairman of QBE
13th February 2020
QBE Insurance Group has announced that former IAG CEO Mike Wilkins has been elected to take over as Chairman of the Group Board, starting from March 1, 2020. He will succeed W Marston Becker who is not standing for re-election, and who will retire from the Board on April 30. Wilkins joined ... Read the full article