QBE appoints global underwriting CEO
QBE has appointed John Neal, currently chief underwriting officer of the group’s European operations, to the newly created position of chief executive officer, global underwriting operations.
The move follows a restructure of the Australian insurer into three main operating divisions: the Americas, Europe and Australia Asia Pacific.
Mr Neal will take up the position, based in Sydney, at the beginning of next year and will be responsible for the day-to-day management of the underwriting performance and the underwriting operations of all three divisions.
The divisional chief executive officers, group actuarial officer, group chief risk officer, global head of distribution and group human resources will report to him on all matters relating to the role’s responsibilities.
John Neal joined QBE in 2004, following the company’s acquisition of Ensign Commercial Motor Operations.
He was promoted to managing director QBE Insurance (Europe) in 2005; chief operating officer European operations in 2007; and
chief underwriting officer European operations in 2009.
QBE has also recently announced that its acquisition of Secura NV, the Belgium-based specialist reinsurer, has received regulatory approval.
The deal will complete on 2nd November and Standard & Poor’s has affirmed Secura’s financial strength rating at “A”, with outlook “Stable”, reflecting that of the QBE Group.
Category: Companies News, Employment News, Insurance News
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