QBE Europe in major restructure

QBE European Operations has revised its product underwriting and distribution structure.

With immediate effect, QBE will operate four product underwriting divisions: casualty & motor; property; marine & energy; and reinsurance & specialist. QBE’s three distribution channels - London Market, UK National & Ireland, and European Markets - will also come together to operate under one division.

QBE said the new organisation makes it simpler for brokers and clients to access key decision makers and underwriting expertise.

It added that the revised structure will enable QBE to improve its operational efficiency, offering flexibility, and scalability for growth through acquisition or organically when the market turns.

The enlarged casualty & motor division will be led by Ash Bathia, and will include the current motor division under Matthew Crane, which in turn now also incorporates the gap and warranty offerings.

The property division under Bernard Mageean will now encompass commercial business insurance products including accident & health and commercial package offerings under the leadership of Graeme Rayner.

The structure brings together QBE Syndicate 1036 and British Marine Limited under Colin O’Farrell. The British Marine business will continue to retain its unique brand. Under the new structure, Robert Johnston will use his experience in the marine marketplace to assume responsibility for market, client and distribution activities across the division.

Jonathan Parry’s reinsurance and specialist division provides an umbrella for the current reinsurance business, QBE said, as well as the global specialist product lines of aviation under Emilio Di Silvio and credit lines under Trevor Williams.

QBE also brings together its three distribution channels - London Market, UK National and European Markets - into one central distribution platform. Terry Whittaker will manage QBE’s eight offices in UK and Ireland regions, as well as fifteen European country operations. Doron Grossman will continue to lead the European country businesses reporting to Terry Whittaker.

John Neal, chief underwriting officer of QBE’s European Operations, said: “Our focus remains on delivering a quality underwriting proposition to clients and brokers alike. With their experience and commitment to our business, the proven talent we have in our new divisional leaders will be key in the next phase of our development.

“We are continually looking for ways to improve and evolve, and the new structure will offer a highly scalable platform from which we can continue to build our business both organically and through further acquisition.”

Steven Burns, chief executive of QBE’s European Operations, added: “We continue to segment our business and look for ways to improve our profitability and efficiency. This initiative is an evolution of the changes we have already made, and will reinforce our position as a leading specialist business insurer, well prepared for strong growth when the market turns.”