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 targets growth opportunities in a strengthening casualty marketplace.
Tim Barber is set to lead the new team in the newly created role of Head of Casualty Treaty for QBE Re. He joined QBE in 2011 and was previously Head of International Casualty Treaty. In his new role, he will report to Steve Postlewhite, Managing Director, QBE Re.
Postlewhite commented: “Bringing the Casualty Treaty teams together will allow us to have a much more cohesive product offering and to have a collegiate team of experienced underwriters. We want an offering that can meet the evolving needs of our customers and brokers as well as being able to take advantage of growth opportunities.”
Barber added: “Our ambition is to grow the casualty reinsurance business in 2021. We’ve moved from what was a soft market for nearly a decade to one that has seen considerable positive rate movement as a result of recent high-profile losses, economic uncertainty, and long periods of underpricing.
“Customers are focusing more on relationships with partners who offer financial strength, longevity and the ability to innovate. QBE Re embodies all these traits, along with underwriters empowered to make decisions quickly. Having all our casualty experts together in one team will only strengthen this proposition.”
Additionally, the reinsurer has revealed that Mark Jackaman will take on the role of Head of International Casualty Treaty and Tony Clayton will serve as Head of US Casualty Treaty. Both will report to Barber under the new divisions, who will take a strategic role over both portfolios.