Reinsurance News
QBE
QBE Re appoints Debbi Wood as Head of Claims
21st March 2023
Reinsurance firm QBE Re has announced that it has appointed Debbi Wood as Head of Claims, subject to regulatory approval. Wood will start her new role in April, where she will report to Mike East, Claims Director, QBE Europe. The new role will also see her become a member of the ... Read the full article
QBE reports FY net profit of $770m, cites resilient underwriting performance
17th February 2023
Australian headquartered insurer QBE has reported a net profit of $770m in its full year 2022 results, a $20m increase from the previous year. Adjusted cash profit after tax increased to $847m from $805m in 2021, resulting in an adjusted cash return on equity of 10.5%. QBE states that despite heightened inflation, ... Read the full article
Enstar to enter $1.9bn Loss Portfolio Transfer with QBE
17th February 2023
Enstar Group has announced that its wholly-owned subsidiaries have reached an agreement for a ground-up Loss Portfolio Transfer (LPT) with certain subsidiaries of QBE on a diversified portfolio of business. Enstar states that this business covers International and North American financial lines, European and North American reinsurance portfolios, and several US discontinued ... Read the full article
QBE launches Client Proposition team, names Matt Lacy as Director
10th February 2023
QBE has announced the establishment of a Client Proposition team and with immediate effect, the appointment of Matt Lacy in the newly create role of Director of Client Proposition. Lacy has over 20 years industry experience. He has been with QBE since 2002, holding a variety of positions including Head of ... Read the full article
Scott Jacobs named Head of Core Claims for QBE European Operations
1st February 2023
QBE Europe, part of QBE Insurance Group, has announced the appointment of Scott Jacobs as Head of Core Claims, taking over from Nathan Fuller, who was recently appointed Chief Operations Officer, QBE International. In his new role based in Leeds, Jacobs will lead a department operating across multiple lines of business, ... Read the full article
QBE Asia’s P&I office rebrands to British Marine
29th December 2022
QBE Asia has announced that its protection and indemnity (P&I) office in Singapore will be rebranded as British Marine, as of January 1, 2023. QBE acquired British Marine in 2005. Founded in 1876, it is the largest fixed P&I insurance provider, specialising in marine insurance for owners of small, medium-sized and ... Read the full article
QBE Intl appoints Rob Stone as CFO
14th December 2022
QBE has appointed Rob Stone as Chief Financial Officer (CFO) for its International Division - QBE International. Stone has been with the company for over 14 years. Most recently, he managed Equator Re, QBE’s inward reinsurance facility, before stepping in to run International’s Finance, Actuarial and Legal function on an interim basis ... Read the full article
QBE underwriting profits to dip on reinsurance costs & inflation: Fitch
25th November 2022
Analysts at Fitch Ratings have warned that the underwriting profitability of QBE Insurance Group is expected to moderate over the next six to 18 months due to inflationary pressure and higher reinsurance costs. Fitch affirmed its Long-Term Issuer Default Rating (IDR) of 'A-' and Insurer Financial Strength (IFS) Ratings of 'A+' ... Read the full article
QBE anticipates exhausting FY22 catastrophe allowance
21st November 2022
QBE Insurance Group Limited expects to incur full-year 2022 catastrophe losses of around AUD 1.06 billion, which is above its catastrophe allowance for the year of AUD 962 million. The Australian insurer has released a trading update for the third-quarter of 2022, which highlights that elevated catastrophe activity has continued through ... Read the full article
QBE NA hires Laura Coppola as Chief Underwriting Officer
14th November 2022
QBE North America has appointed Laura Coppola as Chief Underwriting Officer. Coppola is based in New York and will serve on North America's Executive Management Board. As Chief Underwriting Officer, she will be responsible for portfolio optimization and management across QBE North America. She will lead a fully integrated, efficient and world-class team dedicated to enhancing underwriting ... Read the full article
QBE Intl. promotes Stokoe and Fuller to exec management board
1st November 2022
Australia's QBE Insurance has announced the promotion of both Ceri Stokoe and Nathan Fuller to roles that see the pair join the firm's International Executive Management Board, effective December 1st, 2022, subject to regulatory approval. Stokoe, who joined QBE in 2016 as the Head of Application Services, later becoming Director of ... Read the full article
QBE expands Canada office with new hires
21st October 2022
QBE has announced the appointment of Troy Wiebe as Casualty Underwriter and Jasper Hageman as Property Underwriter, as well as the promotion of Fiona Bui to Underwriting Support Team Lead. According to QBE with these new hires it expands its Vancouver office, which opened in 2015, to grow its Western Canada ... Read the full article
QBE Intl. makes two senior appointments within US marine team
18th October 2022
QBE International Markets has made two appointments within its US marine insurance team. The company has announced that Sean Dollahon has been appointed as Vice President, US Marine Manager, and Katie McCord has been appointed as Vice President, Senior Marine Underwriter. Dollahon brings nearly twenty years of industry experience towards his new ... Read the full article
QBE secures DNB approval and makes five senior hires for Netherlands branch
13th October 2022
Following approval now granted from the DNB (De Nederlandsche Bank), QBE has announced that it can now proceed with its plans to written business in the Netherlands incepting from January 2023. Plans for the branch were first announced in June, earlier this year. At the same time, QBE has announced its ... Read the full article
QBE sells Irish portfolio renewal rights to Ascot
28th September 2022
Australia headquartered insurer QBE has announced the sale of select Irish Casualty commercial insurance portfolios to the Ascot Group via a renewal rights transaction. The sale follows QBE’s decision earlier this year to conduct a phased withdrawal from underwriting certain Republic of Ireland-domiciled direct insurance business. Under the terms of the deal, ... Read the full article
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