QBE Forms Global Reinsurance Business

QBE Insurance Group is combining its worldwide reinsurance operations under a single management team and unified brand, QBE Re.

QBE says QBE Re will comprise the current statutory businesses of Syndicate 566, QBE Re (Europe), Secura NV and QBE Re (Americas). The combined business will have a gross written premium of more than $1.5 billion, across a well-balanced portfolio of property, casualty and specialty lines.

The business will be led by QBE's current European chief underwriting officer for reinsurance, Jonathan Parry, who will become chief underwriting officer of QBE Re. Parry will be supported by a global leadership team including Paul Horgan, London, head of property; Chris Larson, New York, head of casualty and U.S. multiline; Peter Wilkins, London, head of specialty lines; and Luc Boghe, Brussels, head of European multiline.

QBE says it plans to maintain its statutory business reporting and will supplement its key divisional strengths with the opportunities offered by the scale and diversification of a global business. The new model will allow QBE Re to offer its clients a consistent underwriting philosophy.