QBE

Record-breaking Australian bushfire losses soar to A$1.65bn: ICA

Insured 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 CFO

QBE 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 CUO

Markel International has appointed Anirudh Singh as chief underwriting officer for India.

QBE NA hires former Aon exec Fitzgerald as Grange replacement

QBE 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.

XoLs safe for now as Australian bushfires imperil QS and agg covers

QBE crop struggles to pressure major insurers’ shares: KBW

Losses 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 target

QBE 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 president

Jeff 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.

QBE looks to Aspen Re for head of Middle East and Africa

QBE has appointed Abdallah Balbeisi as senior executive officer (SEO), head of Middle East and Africa (MEA).

Construction market facing major loss on $450mn Auckland fire

Chubb leads the insurance cover for the under-construction New Zealand International Convention Centre in Auckland, which has suffered extensive damage following a major fire on 22 October, The Insurer understands.

E&S pricing momentum to carry into 2020: QBE’s DiBattista

E&S underwriters are heading to San Diego this weekend for the annual marketplace of the Wholesale & Specialty Insurance Association. The mood at the meeting is likely to be upbeat, if this publication’s conversation with Jude DiBattista, head of E&S property casualty at QBE North America, is anything to go by.

Poised for growth

QBE Re’s Steve Postlewhite says the company will be opportunistic but rates must stabilise.

Specialty president Grange leaves QBE North America

Jeff Grange, QBE North America’s president of specialty and commercial insurance, has left the company, The Insurer understands.

QBE’s Regan points to North America push

The chief executive officer of QBE Pat Regan has said the Australian carrier is poised to take advantage of growth in North America on the back of an improved pricing environment across the continent.

Garrard succeeds Jones as WTW’s corporate risk and broking head

Willis Towers Watson has named Adam Garrard as its new corporate risk and broking head, replacing Todd Jones, who resigned from the broker take up the role of North America CEO at QBE.

QBE takes larger H1 net individual risk losses after reinsurance restructure

QBE has reported improved attritional claims experience for the first half of 2019 that was partly offset by increased net costs of large individual risk and catastrophe claims tied to its recently simplified reinsurance programme.

QBE replaces Johnston with Willis’ Jones as North America CEO

QBE North America CEO Russ Johnston is set to leave the carrier to pursue other opportunities with Todd Jones joining from Willis Towers Watson to take over the role.

Mnuchin asks Sears judge to allow access to XL-led D&O policy

US Treasury Secretary Steven Mnuchin and six other former directors of Sears Holdings have asked the judge overseeing the retail company’s Chapter 11 proceeding to allow them to access a $150mn D&O policy.

QBE partners with trade credit MGA Nimbla

QBE has entered into a partnership with MGA start-up Nimbla that will see the (re)insurer provide capacity to the trade credit carrier on a delegated underwriting authority basis.