QBE News

QBE H1 Profits Rise 73% on Australia/N. Zealand Rate Hikes, N. America Growth

QBE reported a healthy profit hike during first half of 2017, despite heightened claims activity in its Emerging Markets’ division, which reported a combined ratio of 110.8 percent. This poor performance has led to the creation of two separate divisions …

QBE Appoints Chubb’s Kurinsky as Malaysia CEO

QBE has appointed Chris Kurinsky as chief executive officer, QBE Insurance (Malaysia) Berhad. In this role, Kurinsky will be responsible for QBE’s business across Malaysia. He will continue to drive the profitable growth in the country and increase the company’s …

QBE Chile Completes Management Buyout; Rebrands as ‘Unnio’

QBE Chile Seguros Generales S.A. has completed a management buyout by purchasing the company in May 2017 from QBE Latin America Insurance Holdings. Financial details of the transaction were not disclosed. Following the completion of the deal, QBE Chile rebranded …

QBE Warns Emerging Markets’ Division Hit by Higher Claims

Sydney-based QBE announced that its Emerging Markets’ division has experienced “significantly higher than expected claims activity during the first five months of the year.” As a result, this division is expected to report a first half combined operating ratio of …

QBE Taps Commonwealth Bank of Australia’s Ford as Group CFO

QBE Insurance Group Ltd. has appointed Michael Ford as group chief financial officer. Ford is currently the deputy CFO for the Commonwealth Bank of Australia (CBA). He joined the bank in 2005 and held a number of senior finance roles …

QBE to Move European HQ from London to Continent After Brexit

QBE Insurance Group will move its European base from London to the continent because of uncertainty in accessing the European market after Brexit, the chairman of Australia’s largest international insurer said on Wednesday. “We need to prepare our business for …

QBE Australia & New Zealand Names Prudential Plc’s Baxter as CRO

QBE Australia and New Zealand announced that Mark Baxter has been appointed to the position of chief risk officer. Baxter has recently returned from the UK where he was Prudential’s chief risk officer for the UK and Europe and an …

QBE Launches Privacy, Network Security Coverage for Businesses

QBE North America, an operating division of QBE Insurance Group Limited, has launched a new privacy & network security offering as part of its continued specialty insurance expansion. The new Solution for Cyber Risk product is a comprehensive product suite …

Allianz Weighs Acquisition of Australia’s QBE: Sources

Germany’s Allianz has made an informal takeover approach to QBE Insurance, Australia’s biggest insurer, but has not named a price, sources told Reuters on Monday. Shares in QBE closed flat after rising by up to 5 percent, while Allianz was …

QBE’s Pryce Appointed to Lloyd’s Franchise Board, Succeeding Furlonge

Lloyd’s announced that Richard Pryce, CEO for QBE European Operations, has been appointed by the Council of Lloyd’s as a non-executive director of the Franchise Board, the body which is responsible for the day-to-day running of the Lloyd’s market. Pryce …