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QBE Re to make Chris Killourhy managing director from September
18th August 2022
QBE Re has said that Chris Killourhy is to become the new managing director of the firm from the beginning of September. The move, still subject to regulatory approval, will see Killourhy move from his current role as chief financial officer for QBE International. Jason Harris, CEO of QBE International, said: “We ... Read the full article
QBE profits drop on huge investment loss
11th August 2022
QBE announced statutory net profit after tax of $151 million for the first half of 2022, compared with $441 million in the same six-month period last year. The drop mainly owed to an H1 investment loss of $840 million, versus a return of $58 million last year, which QBE said had ... Read the full article
QBE faces USD 75m remediation cost as policy pricing promise ‘not fully delivered’
20th July 2022
Australian insurer QBE will record a USD 75 million pre-tax remediation cost in 1H 2022 as part of its investigation into pricing practices, which is part of a wider industry review by the Australian Securities and Investment Commission (ASIC). QBE has been investigating pricing practices dating back numerous years, across various ... Read the full article
QBE announces Hobson as Head of Surety, UK
8th July 2022
Insurer QBE has announced the appointment of Leroy Hobson as its new Head of Surety, UK. Leroy has over 25 years experience in the surety market, having held Head of Surety roles at Zurich, Chubb and Aon. In his new role he will be responsible for driving profitable ... Read the full article
QBE Re makes promotions and appointments at NY office
5th July 2022
Reinsurance firm QBE Re has announced several promotions and appointments for its New York office. Salvatore Sama has been appointed head of US financial and professional lines and casualty treaty. He joined QBE Re in April 2021 as senior vice president and head of US financial and professional lines from Swiss ... Read the full article
Catalina General completes loss portfolio transfer from QBE
30th June 2022
Leading provider of retrospective reinsurance and capital solutions, Catalina Holdings (Bermuda) Ltd, has announced that its wholly owned Bermuda-domiciled reinsurance company - Catalina General Insurance Ltd has completed a previously announced loss portfolio transfer retrocession agreement with subsidiaries of QBE Insurance Group Ltd. The agreement relates to QBE’s legacy North American ... Read the full article
Moody’s shifts outlook on QBE from ‘negative’ to ‘stable’
27th June 2022
Moody’s has changed its outlook on QBE from negative to stable, affirming its A3 issuer rating. At the same time, Moody’s said it affirmed the A1 insurance financial strength ratings (IFSR) of QBE's main operating subsidiaries and had changed the outlooks to stable from negative. Moody’s said in a note: “The change ... Read the full article
QBE to roll out products from CyberCube
21st June 2022
Australia-headquartered insurer and reinsurer QBE has announced plans to roll out a range of products from cyber risk analytics firm CyberCube, including its Account Manager and Portfolio Manager platforms. In addition, QBE will be utilising the CyberCube Academy, the firm’s training offering, as well as accessing CyberCube’s enhanced Concierge service. “As one ... Read the full article
Postlewhite to stand down as QBE Re Managing Director
16th June 2022
QBE has announced that Steve Postlewhite, Managing Director of QBE Re, has decided to leave the business following a four-year tenure. Peter Wilkins is to assume the role of interim Managing Director and will oversee QBE Re’s new global alignment strategy and development plans, which were disclosed back in May. The ... Read the full article
QBE to drive EU expansion with branch in the Netherlands
10th June 2022
Australian insurer and reinsurer, QBE Insurance Group Limited has announced plans to set up a branch in the Netherlands. The planned branch will play a major role in the company’s European expansion plans. QBE has noted that recruitment is underway to fill a number of different key roles for the Netherlands branch, ... Read the full article
QBE hires Bannocks as Group Chief Data Officer
31st May 2022
QBE Insurance Group has appointed Christopher Bannocks to the new position of Group Chief Data Officer (GCDO). As GCDO, Bannocks will lead QBE’s enterprise data capabilities, with responsibility for defining and implementing the company’s data strategy and agenda. This new role will also allow him to work closely with central and regional ... Read the full article
QBE and MS First Capital lose Singaporean Covid-19 case
24th May 2022
A court in Singapore has ruled that insurers must pay out under their commercial insurers’ policies for losses arising from Covid-19 lockdowns. According to the Straits Times, a Singaporean newspaper, that country’s High Court has found QBE Insurance and MS First Capital Insurance liable to indemnify the owner of Le Meridien ... Read the full article
QBE names Andy Fitzgerald as Director of UK Regions
10th May 2022
QBE has announced the appointment of Andy Fitzgerald as Director, UK Regions. Fitzgerald was previously QBE UK Insurance Division’s Regional Manager for the North Region, having joined QBE in 2012. In the newly created role, he will now be responsible for the leadership of the UK regions and focus on growing these ... Read the full article
Catalina General takes on loss portfolio transfer from QBE Insurance Group
6th May 2022
Reinsurance firm Catalina General has agreed with QBE Insurance Group’s subsidiaries for a loss portfolio transfer of QBE’s legacy North American Excess and Surplus (E&S) lines prior accident year liabilities. The deal is still subject to regulatory approvals and certain closing conditions. Steve Ryland, group head of global distribution for Catalina, said: ... Read the full article
QBE reports 19% premium growth, $75m Russia exposure
6th May 2022
Australian insurer and reinsurer, QBE Insurance Group Limited, has reported its financial results for the first quarter of 2022, while also commenting on its potential exposure to the conflict between Russia and Ukraine. The company experienced 19% growth in gross written premiums over Q1, with group-wide renewal rate increases averaging 7.9%. These ... Read the full article
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