QBE Re, the reinsurance arm of global insurer QBE Insurance Group, has announced significant changes to its organisational structure as part of a strategy to further align and unify the business under Managing Director, Steve Postlewhite.
QBE Re will now coordinate the underwriting of all of its products, Property, Casualty, Accident & Health, Specialty, and Life reinsurance, across all locations in which it operates.
It says the new structure is designed to respond to and better reflect current market dynamics.
At the same time, a number of senior executive changes have also been announced, including the appointment of Peter Wilkins to the newly created role of Chief Underwriting Officer, QBE Re.
In his new role, Wilkins will take ownership of underwriting performance, strategy, and planning. He is based in London and will continue to report to Steve Postlewhite.
As part of the new structure, a Global Product Leader has been appointed for each of QBE Re’s lines of business, reporting to Peter Wilkins.
These are include Paul Horgan as Head of Property, Tim Barber as Head of Casualty, Simon Parkinson as Head of Accident & Health, Shane Lawlor as Head of Specialty, and Bruno Guelle as Head of Life.
The Global Product Leaders will be responsible for providing underwriting governance and oversight for each product globally.
QBE Re explained that local offices in London, New York, Dubai, Bermuda, and Europe (Brussels and Dublin) will continue to be led by a general manager who is responsible for strategic development, growth initiatives and delivery of the P&L in each location, working closely with the CUO and Global Product Leaders.
“We continue to see considerable growth opportunities across the products that we offer,” commented Steve Postlewhite, Managing Director at QBE Re.
“Our new structure will enable us to deliver on our strategic ambitions for sustainable growth. Our aim is to create a QBE Re that is easier to do business with and creates a more consistent experience globally for our clients as our teams work more collaboratively across all of our offices,” he continued.
“QBE Re is a strong business but in order to achieve our aspirations we need to continue to adapt and evolve to meet changing client’s needs. This is a critical step in that process.”
Commenting on the changes to senior executives, Postlewhite added: “There is a huge amount of untapped potential in QBE Re and we believe that with the right culture, structure, and operational approach, QBE Re can succeed among the biggest and best in the market.”
“We are reorganising ourselves in a way that is recognisable to the market and brings the parts that make up QBE Re into one cohesive whole to act as clients expect. As a connected business we will be able to change the way we trade and engage with brokers and clients. We will enter such conversations with confidence – proud of our proposition and approach.”