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QBE

QBE to enhance underwriting decisions using Cytora’s risk rating tech

7th January 2019

Global re/insurer QBE Insurance Group has adopted Risk Engine technology from artificial intelligence (AI) company Cytora to enhance underwriting decisions across its commercial portfolio. QBE explained that its partnership with Cytora will enable UK customers to purchase cover more efficiently, using Cytora’s predictive insights to recommend and tailor products to better ... Read the full article

QBE European Operations’ post-Brexit plans approved by High Court

2nd January 2019

QBE European Operations, part of the QBE Insurance Group, has announced the implementation of its post-Brexit plans after its Part VII transfers came into effect in the New Year. A Part VII transfer is essentially a court-sanctioned legal transfer of some or all of the policies of one company to another QBE ... Read the full article

QBE benefits from early reinsurance renewal as it restructures placement

11th December 2018

Australian and global primary insurance and reinsurance group QBE said it has benefited from favourable terms and better pricing by getting to market early with its 2019 reinsurance renewal. The insurer said that by hitting the market early it has been able to achieve lower pricing, avoiding any uptick in market ... Read the full article

QBE European Operations adds trio of underwriters to trade credit team

6th December 2018

QBE European Operations, part of the QBE Insurance Group, has added three underwriters to its trade credit team as it seeks to take advantage of the Brexit-driven increase in demand for trade credit cover. According to recent Association of British Insurers (ABI) figures, trade credit insurance claims in the UK have ... Read the full article

QBE to combine Asian and European operations in efficiency drive

5th November 2018

Australia domiciled insurer QBE has announced that its Asian and European operations are to be combined into a new International division as part of a drive for greater efficiency in the company. Additionally, a new Australia Pacific division will encompass operations in Australia, New Zealand, the Pacific and India, meaning Asia ... Read the full article

QBE sells Australian travel insurance business to nib

6th August 2018

QBE Insurance has sold its Australian travel insurance business to nib Holdings in an effort to “simplify and strengthen” its business, according to QBE Australia and New Zealand Chief Executive Officer (CEO), Vivek Bhatia. The decision was made following an extensive review of QBE Travel and its alignment to QBE’s strategic ... Read the full article

Former Aspen CEO Postlewhite named Deputy Global CUO, QBE Re

26th June 2018

QBE Insurance Group has announced the appointment of Stephen Postlewhite as Deputy Global Chief Underwriting Officer (CUO) of its specialty reinsurance arm, QBE Re. Postlewhite is set to join the firm on November 1st, 2018, and will report to Chief Underwriting Officer for Reinsurance, Jonathan Parry. He joins the company from Aspen ... Read the full article

QBE Europe granted license by National Bank of Belgium

29th May 2018

Australia domiciled insurer QBE has taken a major step in securing continued passporting rights across the European Economic Area (EEA) post-Brexit, after its new Belgian subsidiary, QBE Europe SA/NV (QBE Europe), was granted a license by the National Bank of Belgium (NBB). QBE Europe will leverage the existing base that QBE ... Read the full article

QBE invests in machine learning tech firm Hyperscience

9th May 2018

QBE Insurance Group has announced that its venture capital arm, QBE Ventures, has closed an investment into machine learning tech firm Hyperscience, and has entered into an agreement to roll out its solutions across QBE globally. Hyperscience uses artificial intelligence (AI) to develop solutions for automating office work across verticals like ... Read the full article

QBE Insurance Group reshapes senior management team

11th April 2018

QBE Insurance Group Limited has announced a major reshaping of their senior management team as Inder Singh succeeds Michael Ford as Chief Financial Officer (CFO), Peter Grewals is appointed as Chief Risk Officer (CRO), Liam Buckley as Head of Culture and Talent, Matt Mansour as Chief Information Officer, and Anders ... Read the full article

QBE to sell Latin American operations to Zurich

26th February 2018

QBE Insurance Group Limited has announced plans to sell its Latin American operations to Zurich Insurance Group for a total aggregate price of US $409 million. The transaction includes operations in Argentina, Brazil, Columbia, Ecuador and Mexico, and will see Zurich become the leading insurer in Argentina and the third largest ... Read the full article

QBE expects $1.2 billion loss for 2017, combined ratio climbs

23rd January 2018

Significant catastrophe activity in the fourth-quarter of 2017 combined with two, one-off non-cash items has seen QBE report an expected full-year 2017 loss of roughly $1.2 billion. For the year, QBE now expects to report a combined operating ratio (COR) of approximately 104%, which is above the target range of 100% ... Read the full article

QBE Insurance names Vivek Bhatia as CEO of Australian and New Zealand Operations

11th January 2018

QBE Insurance Group has announced the appointment of Vivek Bhatia as Chief Executive Officer (CEO) of Australian and New Zealand Operations (ANZO). Bhatia joins QBE from icare, the NSW Government public financial corporation and one of the largest social insurers globally with more than AU$30 billion in assets and AU$6.7 billion ... Read the full article

Pen Underwriting expands specialist cover in Ireland with QBE deal

20th November 2017

Pen Underwriting has reached an agreement with QBE in which the Australian reinsurance giant will provide capacity for hazardous goods and environmental industries within the property & casualty (P&C) segment in Ireland. The partnership will take effect from January 1st 2018, giving Pen's brokers and their clients in Ireland access to ... Read the full article

QBE closes RiskGenius investment, enters into multi-year product agreement

30th October 2017

QBE Ventures, a division of QBE Insurance Group Limited, has now closed its first investment in machine learning company, RiskGenius, as part of its technology investment programme. RiskGenius assists carriers, brokers and regulators when analysing policy and endorsement language and aid in product development, and QBE has also entered into a multi-year ... Read the full article

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