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QBE expands US FINPRO, adds Swiss Re’s Salvatore Samà to lead
9th April 2021
QBE Re, the reinsurance arm of Australian insurer QBE, has expanded its US Casualty treaty hub and appointed Salvatore Samà as Senior Vice President, Treaty Underwriting - FINPRO. Based in New York, Samà will take charge of driving the development and advancement of QBE Re’s US Financial and Professional Lines treaty ... Read the full article
QBE Re targets regional expansion; names Attilio Tornetta as Head of Africa
29th March 2021
QBE Re, the reinsurance arm of the Australian insurer, has announced the expansion of its treaty hub for Africa with the addition of Attilio Tornetta as Head of Africa, based in Dubai. In this newly created role, Tornetta will be responsible for all the new treaty business incepting from the April ... Read the full article
Beazley CEO Horton to depart, move to QBE Insurance as Group CEO
3rd March 2021
Beazley plc, the specialty insurance and reinsurance company, has announced this morning that its CEO Andrew Horton has revealed his intention to step down and depart the firm, for a move to become Group CEO of QBE Insurance Group Limited in Australia. Horton will remain in his post with Beazley until ... Read the full article
QBE “very disappointed” with $869m underwriting loss
19th February 2021
Australian re/insurer QBE has recorded a “disappointing” underwriting loss of US $869 million for 2020, mainly due to the COVID-19 pandemic and elevated catastrophe losses, as well as adverse prior year claims development. Having warned the market back in December, the company also confirmed that its net loss after tax ... Read the full article
QBE launches new Custom Property product
11th February 2021
The North American division of global insurer QBE has launched its new QBE Custom Property product. The product includes a First Party Cyber coverage, which provides coverage for business interruption, data recovery and incident response service expenses, per network security event. It also has other features such as crime coverage, which covers ... Read the full article
QBE consolidating global reinsurance business in London
29th January 2021
Australian re/insurer QBE is consolidating its global reinsurance underwriting within its London unit under the leadership of QBE Europe's managing director of global reinsurance Stephen Postlewhite. An official statement from the company explains that the move has been made in an effort to take advantage of improved reinsurance market conditions and to enhance ... Read the full article
QBE adds directors to North America board
20th January 2021
QBE has announced the addition of two new Non-Executive Directors to the board of its subsidiary, QBE North America. The new appointments are Shamla Naidoo and Sharon Ritchey. Both new directors will serve on the Audit, Investment, People & Remuneration and Risk & Capital Committees. There are also plans for Ritchey to Chair ... Read the full article
UK business interruption ruling pushes QBE further into reinsurance cover
18th January 2021
Australia-based re/insurer QBE has said that the UK Supreme Court’s verdict on business interruption (BI) cases linked to the pandemic will push it further into its aggregate reinsurance protection. Last week, the Supreme Court decided to uphold the ruling on the BI test case first brought forward by the Financial ... Read the full article
QBE increases cat reinsurance tower at Jan 1st renewals
11th January 2021
Australian insurer and reinsurer, QBE Insurance Group Limited, has increased the size of its main catastrophe reinsurance tower by roughly 3% to $3.4 billion for 2021. The re/insurer has now completed its Jan 1st, 2021 reinsurance renewal, noting that the program was placed broadly in line with expectations and at terms ... Read the full article
QBE Syndicate 386’s Harries to retire, Cécile Fresneau named successor
7th January 2021
QBE Syndicate 386 active underwriter and head of financial lines David Harries is set to retire from his role after 34 years with the liability insurer. Harries has spent the last seven years in his current position and will be supporting the handover of the role to Cécile Fresneau over the first ... Read the full article
Moody’s turns negative on QBE after $1.5bn loss projection
21st December 2020
Rating agency Moody’s has changed its outlook on Australian re/insurer QBE from stable to negative, after the company forecast that its after-tax losses would amount to USD 1.5 billion over 2020. Analysts said that the downgrade reflects QBE’s earnings volatility, as well as its relatively weak earnings profile compared to ... Read the full article
QBE projects $1.5bn full-year loss
18th December 2020
Australian re/insurer QBE has revealed that it expects to incur an after-tax loss of USD 1.5 billion for the full-year 2020 period. The pre-tax loss is estimated at $780 million and includes $470 million of COVID-19 costs, $130 million of elevated catastrophe losses and $360 million of prior year claims development. While ... Read the full article
QBE North America makes four senior hires
16th December 2020
QBE North America has made four senior leadership hires within its Financial Lines business. Danielle Librizzi has been appointed as Head of Professional Liability, with Thomas Kocaj as Head of Management Liability. In addition, Michael McGuinness will serve as Senior Vice President, Public D&O, followed by Adam Fleischner as Senior Vice President, ... Read the full article
QBE hires Fiona Larnach as Group Chief Risk Officer
15th December 2020
Australian re/insurer QBE has appointed Fiona Larnach to the role of Group Chief Risk Officer. Larnach has nearly 30 years of experience working across risk management, finance and treasury. She has held a number of senior executive roles at numerous Australian and UK financial service companies, and was most recently the Chief ... Read the full article
QBE North America makes two senior hires
12th November 2020
QBE North America has announced two new appointments, Dan Fortin as President, Financial Lines, and Todd Greeley as Chief Operating Officer, Financial Lines. Fortin is to lead and build upon QBE’s existing Management Liability, Professional Liability and Transactional Liability practices, while Greeley is to help further expand its Management Liability, Professional Liability and Transactional ... Read the full article
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