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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
QBE North America appoints Steinsdoerfer, Prahl to key leadership roles
29th October 2020
The North American arm of re/insurer QBE has added Bobby Steinsdoerfer as Senior Vice President, Regional Underwriting Leader - Central Region. Additionally, Lucas Prahl has been promoted to Senior Vice President, Regional Underwriting Leader - Western Region. Steinsdoerfer joins from AIG's Blackboard Insurance and brings 12 years' experience to the role. Before Blackboard he served ... Read the full article
QBE appoints Richard Pryce interim CEO as search continues
23rd October 2020
Australian re/insurer QBE has appointed Richard Pryce to the role of Interim group Chief Executive Officer while the company searches for a permanent replacement. Former CEO Pat Regan departed following an external review of his workplace communications. Mike Wilkins, who had stepped in to the CEO role on a temporary basis ... Read the full article
QBE International (Insurance) CUO Colin O’Farrell to retire
15th October 2020
Australian insurer and reinsurer, QBE, has announced that the Chief Underwriting Officer (CUO) of Insurance for QBE International, Colin O'Farrell, is to retire from the company at the end of 2020. O'Farrell's career spans 36 years, 34 of which have been spent with QBE. During this time, he has led the ... Read the full article
QBE Asia hires Head of Agency for Hong Kong
1st October 2020
Re/insurance provider, QBE Asia has announced the appointment of Alex Chan as the Head of Agency for Hong Kong. Chan has over 25 years of experience across distribution, sales and relationship management. Prior to joining QBE Hong Kong, Chan held a number of senior positions in global insurance organisations. His previous positions include ... Read the full article
QBE responds to UK BI test case ruling; expects to call on reinsurance
16th September 2020
In response to yesterday's ruling by the UK’s High Court that largely favoured policyholders in the Financial Conduct Authority’s (FCA)’s business interruption (BI) insurance test case, insurer QBE has said that it expects its reinsurance protection to limit the net cost to $70 million. In certain instances, yesterday's judgement favoured ... Read the full article
QBE Re combines Casualty Treaty teams to support growth
3rd September 2020
QBE Re, the reinsurance division of global insurer QBE, has announced the combination of its US and International Casualty Treaty reinsurance teams into one business unit. QBE Re London states that the establishment of a single Casualty Treaty reinsurance team is designed to enable a "unified market proposition" as the company ... Read the full article
QBE replaces CEO after misconduct review
1st September 2020
QBE Insurance Group has announced that its CEO, Pat Regan, will be departing the company following an external review of his workplace communications. The review was prompted by a complaint from a female employee, and led the QBE Board to conclude that Regan had not met the standards of the Group ... Read the full article
QBE adds Harpreet Mann as Head of Global Credit & Surety for NA
21st August 2020
Australian insurer QBE has announced the appointment of Harpreet Mann as Head of Global Credit & Surety for its North America division. Mann will develop and promote the strategic vision for enhancing the Credit & Surety book of business in North America while building relationships with prospective business partners. She will report to ... Read the full article
QBE to grow reinsurance business selectively, says CEO
19th August 2020
Patrick Regan, Group CEO and Executive Director of Australian re/insurer QBE, has said that the company is increasingly seeing opportunities to “selectively” write more reinsurance business. Speaking shortly after the release of QBE’s results for the first half of 2020, Regan noted that the company has kept “a very tight watch” ... Read the full article
QBE to add Eric Smith, Tan Le as Non-Exec Directors
14th August 2020
Australian insurer QBE has announced the appointment of Eric Smith and Tan Le as Non-Executive Directors of the Group Board, effective September 1. Smith joins with over 40 years of experience in insurance and financial services and most recently served as President and Chief Executive Officer of Swiss Re Americas, and a ... Read the full article