QBE News

Legacy Specialist Compre Signs 2nd Transaction with QBE

Compre, the London-based independent re/insurance legacy specialist, announced it has signed its second legacy transaction with QBE for an undisclosed sum. The transaction follows Compre’s acquisition of QBE’s share of the Ridgwell Fox & Partners pool legacy reinsurance business in …

British Regulator Enlists 8 Insurers in Pandemic Test Case of Business Interruption Cover

Insurers including Hiscox, RSA and QBE will take part in a UK test case to decide whether their policies should pay out millions of pounds to companies hit by the coronavirus pandemic, the industry regulator said on Monday. A national …

Are Employees Pushing Insurers to Shun Coal in Climate Change Movement?

Seventeen insurers have restricted insurance services to coal projects in the past two years. A dozen insurers have adopted policies to stop all direct insurance coverage to new coal projects – among them are Allianz, AXA, Generali, QBE, Zurich, SCOR …

AI Startup Cytora Raises $32.5M to Expand Commercial Insurance Products, Geographies

Cytora, the London-based provider of artificial intelligence-powered solutions for the commercial insurance industry, announced it has raised £25 million ($32.5 million) in new financing, which will be used to accelerate expansion of the company’s product suite as well as its …

QBE Restructures Operations, Creating 3 Global Units; Executive Team Named

QBE announced changes to its structure, designed to further simplify its operations and build a more streamlined, agile and customer-oriented business. Following the underwriting remediation in Asia, which is now largely complete, Asia Pacific will no longer be a separate …

QBE Canada Unveils New Leadership Team, Including Thompson as Director

QBE Canada unveiled a new leadership team, which is being led by Jamie Thompson, who took on the role as director of Canada earlier this year. In this role, Thompson has oversight of QBE’s Canadian customers, including those who purchase …

UK Insurers Push Ahead with Brexit Plans in Absence of Trade Deal: A.M. Best Report

In the absence of a Brexit trade deal between the United Kingdom and the European Union, insurers in the UK have accelerated their plans to establish new EU subsidiaries and ensure business continuity after Brexit, according to a report published …

Australia’s QBE Reports 4% Rise in H1 Profit – on Fewer Natural Disasters

Australia’s QBE Insurance Group Ltd. posted a better-than-expected 4 percent rise in first-half profit, helped by fewer natural disasters in its biggest markets, sending its shares up almost 9 percent to their highest since November. The strong result draws a …

QBE Invests in HyperScience Artificial Intelligence for Office Work

QBE Insurance Group Limited (QBE) through its QBE Ventures, has closed an investment into HyperScience, a machine learning company focused on building artificial intelligence products for automating office work. In addition to its investment, QBE has entered into a multi-year …

QBE’s Revamped Executive Team Includes Singh as CFO, Swiss Re’s Grewal as CRO

QBE Insurance Group Ltd. announced a reshaping of the senior management team with the appointments of Inder Singh as group chief financial officer, replacing Michael Ford who is leaving QBE; Peter Grewal as group chief risk officer; Liam Buckley as …