Reinsurance News
QBE
QBE appoints Richard Pryce interim CEO as search continues
23rd October 2020
Australian re/insurer QBE has appointed Richard Pryce to the role of Interim group Chief Executive Officer while the company searches for a permanent replacement. Former CEO Pat Regan departed following an external review of his workplace communications. Mike Wilkins, who had stepped in to the CEO role on a temporary basis ... Read the full article
QBE International (Insurance) CUO Colin O’Farrell to retire
15th October 2020
Australian insurer and reinsurer, QBE, has announced that the Chief Underwriting Officer (CUO) of Insurance for QBE International, Colin O'Farrell, is to retire from the company at the end of 2020. O'Farrell's career spans 36 years, 34 of which have been spent with QBE. During this time, he has led the ... Read the full article
QBE Asia hires Head of Agency for Hong Kong
1st October 2020
Re/insurance provider, QBE Asia has announced the appointment of Alex Chan as the Head of Agency for Hong Kong. Chan has over 25 years of experience across distribution, sales and relationship management. Prior to joining QBE Hong Kong, Chan held a number of senior positions in global insurance organisations. His previous positions include ... Read the full article
QBE responds to UK BI test case ruling; expects to call on reinsurance
16th September 2020
In response to yesterday's ruling by the UK’s High Court that largely favoured policyholders in the Financial Conduct Authority’s (FCA)’s business interruption (BI) insurance test case, insurer QBE has said that it expects its reinsurance protection to limit the net cost to $70 million. In certain instances, yesterday's judgement favoured ... Read the full article
QBE Re combines Casualty Treaty teams to support growth
3rd September 2020
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 ... Read the full article
QBE replaces CEO after misconduct review
1st September 2020
QBE Insurance Group has announced that its CEO, Pat Regan, will be departing the company following an external review of his workplace communications. The review was prompted by a complaint from a female employee, and led the QBE Board to conclude that Regan had not met the standards of the Group ... Read the full article
QBE adds Harpreet Mann as Head of Global Credit & Surety for NA
21st August 2020
Australian insurer QBE has announced the appointment of Harpreet Mann as Head of Global Credit & Surety for its North America division. Mann will develop and promote the strategic vision for enhancing the Credit & Surety book of business in North America while building relationships with prospective business partners. She will report to ... Read the full article
QBE to grow reinsurance business selectively, says CEO
19th August 2020
Patrick Regan, Group CEO and Executive Director of Australian re/insurer QBE, has said that the company is increasingly seeing opportunities to “selectively” write more reinsurance business. Speaking shortly after the release of QBE’s results for the first half of 2020, Regan noted that the company has kept “a very tight watch” ... Read the full article
QBE to add Eric Smith, Tan Le as Non-Exec Directors
14th August 2020
Australian insurer QBE has announced the appointment of Eric Smith and Tan Le as Non-Executive Directors of the Group Board, effective September 1. Smith joins with over 40 years of experience in insurance and financial services and most recently served as President and Chief Executive Officer of Swiss Re Americas, and a ... Read the full article
QBE posts H1 loss, as virus claims near reinsurance trigger
13th August 2020
Australian insurer QBE has posted an AU $712 million (US $510 million) loss for the first half of 2020, driven by underwriting impacts from COVID-19, large catastrophe losses, and a poor investment performance. The results compare with a profit of $463 million for the same period last year, as performance was ... Read the full article
QBE reports $335mn COVID-19 loss ahead of H1 results
22nd July 2020
Ahead of the release of its results for H1 2020, Australian insurer QBE has reported that it expects to incur a COVID-19 underwriting impact of around $335 million for the period. The group is anticipating a combined operating ratio of around 104% for the first half of the year, reflecting COVID-19 ... Read the full article
QBE North America adds Toria Lessman to SVP role
9th July 2020
QBE North America has announced the appointment of Toria Lessman as Senior Vice President, Head of Professional Lines and Industry Verticals. Lessman had most recently been serving as Head of Transactional Liability, a key business line in the Professional Lines portfolio. In her new role, she will assume responsibility for evaluating the ... Read the full article
Compre signs further legacy transaction with QBE
3rd July 2020
Leading specialist legacy acquirer Compre has today announced the signing of its second legacy transaction with QBE for an undisclosed sum. This transaction follows Compre’s acquisition of QBE’s share of the Ridgwell Fox & Partners pool legacy reinsurance business in 2016. “I am extremely pleased to announce the conclusion of our second ... Read the full article
QBE NA adds Woosley as SVP, Broker Management & Sales Operations
4th June 2020
QBE North America has announced the appointment of Thaddeus Woosley as Senior Vice President, Broker Management & Sales Operations. Before joining QBE in February 2020, Woosley worked at Aon for 15 years in a variety of leadership roles of increasing responsibility. Most recently at Aon, he served as Vice President – Global ... Read the full article
QBE NA promotes Gransbury to lead new specialty insurance unit
28th May 2020
The North American division of global insurer QBE has promoted Steve Gransbury as head of specialty insurance, a newly created group of existing QBE businesses. Tara Krauss has been promoted to Gransbury’s previous role as head of accident & health. Gransbury now leads a specialty insurance unit consisting of A&H, aviation and ... Read the full article