QBE North America has announced the launch of a Specialty Casualty business.
The launch is part of the company’s strategy to invest in areas where the insurer can offer distinct advantages to business customers.
QBE’s Specialty Casualty offering will include admitted and non-admitted primary, lead umbrella and excess liability products, targeting a wide range of business segments across a diverse set of industries.
Addressing the launch of QBE Specialty Casualty, Tom Fitzgerald, President of Specialty & Commercial insurance at QBE North America, said: “With QBE Specialty Casualty, we see a clear opportunity to build a long-term franchise that is grounded in expert underwriting with a data-driven approach to meet the unique needs of customers.
“It will allow us to deepen our relationships with our limited and preferred network of brokers while we further improve the balance and synergies in our diversified business portfolio.”
In addition, to launch its new business unit, QBE has announced that it has hired a team led by four senior executives, each with proven track records of building market-leading capabilities in Specialty Casualty, while generating both stable and sustainable performance over time.
Taking newly created posts to lead the business are: Karen London, President, Specialty Casualty; Mike Foley, Chief Underwriting Officer, Specialty Casualty; Morgan Wichmann, Head of Casualty non-Construction; and Craig Freid, Head of Casualty Construction.
All four senior executives have decades of experience within the Specialty Casualty market with a heavy focus on complex and hard-to-place risks.
Prior to joining QBE, they each held leadership positions at Berkshire Hathaway.
“Our team has an unmatched reputation, and we are confident they will build the industry’s leading Specialty Casualty business,” said Fitzgerald. “We’re excited to have them on board and look forward to their contributions to QBE North America.”
Karen London added: “QBE has state-of-the-art systems and tools to support the Specialty Casualty products and services. We are thrilled to bring our expertise to QBE leveraging capabilities, building a team and platform from the ground up to deliver customized risk solutions for customers.”