Markel looks to QBE’s Yu for Asia claims headMarkel International has appointed Bo Yu as claims lead for Asia, based in Singapore.
QBE’s Pryce not a Hancock successor candidateQBE International’s out-going CEO Richard Pryce is to retire from the London market early next year which, absent a volte-face, also removes himself as a contender to succeed Jon Hancock as director of Performance Management at Lloyd’s.
QBE International CEO Pryce to retire, replaced by Axa XL’s HarrisQBE International’s CEO Richard Pryce is retiring from the company at the end of the year and will be replaced by Axa XL’s Jason Harris.
QBE withdraws targets on ‘extraordinarily difficult’ Covid-19Australian insurer QBE has withdrawn its guidance on financial targets for 2020 due to the uncertainty caused by the coronavirus outbreak and has confirmed it will hold a virtual annual general meeting in May.
Australia leads APAC sell-off as Wall Street futures plungeAsia-Pacific markets fell sharply on Monday with Australian stocks leading the sell-off as investors reacted to an altered global business landscape characterised by lockdowns and closures intended to slow the spreading coronavirus.
QBE North America confirms Moore as COODan Moore has been appointed chief operating officer of QBE North America, a role he has held on an interim basis since the end of January after Daniel Franzetti left for CNA.
QBE shares slide over 10% in Asia-Pacific bloodbathShares in Australian insurer QBE closed down 10.44 percent on Monday as Asia-Pacific equities plunged following a shock crash in oil prices and yet another wave of panic over the spreading coronavirus.
QBE’s NA business to return underwriting profit in 2020: ReganQBE’s North American business should return a “more normalized” level of underwriting profit in 2020, CEO Pat Regan told analysts on Monday, despite the unit posting a loss-making combined ratio in 2019 driven by heavy cat losses impacting its US crop business.
QBE bucks Australian stock trend as shares rise 5% to five-year highShares in ASX-listed QBE rose by 4.3 percent in the latest trading session, bucking the trend set by fellow Australian carriers IAG and Suncorp, which each saw their shares dip to a respective 52-week low last week.
QBE FY profit climbs 41% despite cat hitAustralian insurer QBE saw its after-tax net profit climb 41 percent in 2019 but trimmed its final dividend amid a surge in its natural disaster costs across Australia and the United States.
QBE appoints Wilkins group chairman as Becker steps downQBE has appointed Mike Wilkins as group chairman, succeeding Marston (Marty) Becker who is retiring after six years in the role and a total of seven years on the carrier’s board.
Single event definition to determine Australian reinsurance payout: AM BestThe reinsurance coverages triggered by the Australian bushfires remains uncertain, with terms and conditions likely to come under great scrutiny, AM Best has commented.
Record-breaking Australian bushfire losses soar to A$1.65bn: ICAInsured losses in the wake of widespread bushfire damage in Australia have reached A$1.65bn ($1.13bn), according to the Insurance Council of Australia (ICA) – making the catastrophe the most expensive bushfire event on record.
QBE NA promotes Castaldo to CFOQBE North America has appointed Christopher Castaldo as chief financial officer, the latest in a series of appointments to its senior management in the past year.
Markel takes QBE’s Singh for India CUOMarkel International has appointed Anirudh Singh as chief underwriting officer for India.
QBE NA hires former Aon exec Fitzgerald as Grange replacementQBE North America has brought in former Aon executive Tom Fitzgerald as the new president for its specialty and commercial business, replacing Jeff Grange who left the company to join Argo late last year.
QBE crop struggles to pressure major insurers’ shares: KBWLosses in the North American (NA) crop market that could push QBE’s combined ratio for the segment to 109 percent have sparked concerns from Keefe, Bruyette & Woods (KBW) analysts about the read across for other carriers writing the business.
QBE warns crop losses may push 2019 CR above targetQBE has warned its group-wide 2019 combined operating ratio could be slightly above the top end of its targeted range of 94.5 to 96.5 percent with weather-related losses emanating from its North American crop insurance operations largely to blame.
Argo names former QBE exec Grange as executive vice presidentJeff Grange will join Argo Group International Holdings as an executive vice president for US operations, leading Argo Casualty, Argo Pro, Argo Insurance, Rockwood and Argo Cyber.