QBE News

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 …

Zurich Acquires QBE’s Latin American Operations for US$409M

Zurich Insurance Group has entered into an agreement to acquire the Latin American operations of Australian insurer QBE Insurance Group Ltd. for a total aggregate price of US$409 million, subject to closing adjustments. The transaction, which is subject to regulatory …

QBE Expects US$1.2B Loss in 2017 from ‘Unprecedented’ Natural Catastrophes

QBE announced to the market this week that it expects a US$1.2 billion after-tax loss in 2017 on “unprecedented” natural catastrophe claims. “This has been a challenging year for QBE, reflecting an unprecedented cost of catastrophes as well as the …

QBE Insurance Settles Shareholder Class Action in Australia for US$103.2M

QBE Insurance Group Ltd. has agreed to pay A$132.5 million (US$103.2 million) to settle a shareholder class action in Australia. The class action was commenced by Money Max Interest Pty Ltd on Sept. 9, 2015 in the Federal Court of …

Artificial Intelligence Startup Cytora Raises $5.9M from QBE, Starr, Other Investors

Artificial intelligence startup Cytora has raised $5.9 million in new financing from investors including divisions of QBE’s venture capital arm and Starr Cos. QBE Ventures, Starr Global Holding, Cambridge Innovation Capital, Cambridge Enterprise and Parkwalk Advisors all participated in the …

Pen Underwriting Builds on QBE Partnership with Irish P/C Capacity Deal

Pen Underwriting has extended its strategic relationship with QBE into the Republic of Ireland, with a new property & casualty capacity partnership in the highly specialist area of hazardous goods & environmental industries. The new partnership takes effect on Jan. …

QBE North America Forms Alliance with MGA Professional Risk Facilities

QBE North America, an operating division of QBE Insurance Group Ltd., announced a strategic program underwriting alliance with managing general agent Professional Risk Facilities (PRF), designed to offer coverage for miscellaneous errors & omissions (E&O) cover, media liability, tech E&O …

QBE Invests in, Links With, Machine Learning InsurTech Startup RiskGenius

QBE has signed a multi-year commercial use agreement with RiskGenius, a machine learning company that helps carriers, brokers and regulators analyze policy and endorsement language and aid in product development. The deal comes as the Australian insurer’s venture arm closed …

QBE Group CEO Neal to Exit; Regan to Succeed Him in January

QBE Insurance Group today announced that John Neal, Group chief executive officer, will be stepping down after five years in the role. The board of directors has appointed Patrick Regan, chief executive officer Australian and New Zealand operations and previously …