Reinsurance News
QBE
QBE is an international insurance and reinsurance company with a local presence in 26 countries, headquartered in Sydney, Australia. The reinsurance arm is named QBE Re.
Read our QBE insurance or reinsurance news and analysis below.
QBE posts $130 million hit from natural disasters in late 2022, including winter storm Elliot
12th May 2023
Australian insurer and reinsurer, QBE Insurance Group Limited, indicated an adverse development of $130 million on natural catastrophe events which primarily occurred in late 2022, including winter storm Elliot in North America and certain Australian events. As a result of these increasing costs, QBE hiked its FY23 plan Group combined operating ... Read the full article
AM Best revises QBE’s issuer credit rating outlook to stable
9th May 2023
The Long-Term Issuer Credit Rating (Long-Term ICR) outlook of QBE Insurance Group, an Australia-based re/insurance company, has been revised to stable from negative by credit rating agency AM Best. QBE’s Financial Strength Rating (FSR) of A (Excellent) was also affirmed by AM Best, as well as Long-Term ICR of “a+” (Excellent) ... Read the full article
Marsh launches multi-line facility Fast Track, led by QBE
21st April 2023
Insurance broker and risk advisor Marsh has launched Fast Track, a new insurance facility led by QBE that is set to provide a “substantial amount” of additional “follow form” capacity to its clients globally across major lines of business. The brokers new facility is backed by a panel of A-rated global ... Read the full article
QBE promotes Debbi Wood to Head of Reinsurance Claims
20th April 2023
QBE, an Australian-based insurer has promoted Debbi Wood to Head of Reinsurance Claims. An experienced veteran within the industry, Wood has worked at QBE for nearly two decades. She joined the firm in 2003 as a Senior Claims Adjuster, and would serve in that role for just over 19 years. In 2010, QBE ... Read the full article
Sir Keith Skeoch named Non-Exec Chairman for QBE European Operations
19th April 2023
QBE European Operations, part of QBE Insurance Group, has appointed financial services industry leader Sir Keith Skeoch as Non-Executive Chairman. In his new role, he will work closely with Jason Harris, CEO, QBE International to drive forward QBE’s strategic ambitions. He will be taking over from Tim Ingram, who has retired ... Read the full article
Enstar closes $1.9bn LPT with QBE Insurance
11th April 2023
Legacy specialist Enstar Group's wholly owned subsidiaries have completed a Loss Portfolio Transfer (LPT) transaction with certain subsidiaries of QBE Insurance Group on a diversified portfolio of business. The transaction covers International and North America financial lines, European and North American reinsurance portfolios, and several US discontinued programs. Under the LPT, Enstar’s ... Read the full article
Canopius hires QBE’s Sam Harrison as Group CUO
3rd April 2023
Global specialty re/insurer Canopius Group has appointed Sam Harrison as Group Chief Underwriting Officer (GCUO). Within the role, he will report to Neil Robertson - Canopius Group Chief Executive Officer, and he will also join the Canopius Group Leadership Team. Harrison joins the firm from QBE Insurance, where he served as GCUO ... Read the full article
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
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