QBE in executive restructure

QBE has restructured into three main operating divisions – Europe, the Americas and Australia Asia Pacific.

Following the restructure, Vince McLenaghan, currently group chief operating officer and acting chief executive for Australia, has been appointed to the position of chief executive - Australia Asia Pacific reporting to the group chief executive.

In the revised structure, Steven Burns, chief executive - European operations and John Rumpler, chief xeecutiver - the Americas will now report directly to group chief executive Frank O’Halloran.

Michael Goodwin, chief executive - Asia Pacific will continue to report to Vince McLenaghan.

McLenaghan said “I am delighted to take on this new challenge within the group and to be working more closely with the Australian operations executive and Mike Goodwin to expand our service and product offering across the region.

"We have excellent teams to work with and exciting opportunities to capture and convert into further positive results for our shareholders.”

O’Halloran said: “We now have three major divisions all writing over US$4.5 billion of gross written premium income. I am pleased that Vince, who is a proven insurance professional, will now head our substantial Australia Asia Pacific business.

"The group operations executive and group head office management team have an average tenure with QBE of 15 years and it is one of the most stable and experienced international insurance teams in the world.”

The revised structure, reporting to O’Halloran, now consists:

QBE's group operations executive;

Burns; Rumpler; McLenaghan; Goodwin; Terry Ibbotson, Global Head of Distribution.

QBE's group head office team:

• Neil Drabsch, chief financial officer;
• Des Fogarty, president, Equator Reinsurances;
• lair Nicholls, chief actuarial officer;
• Duncan Ramsay, general counsel and company secretary
• Jenni Smith, group general manager, human resources
• Mark ten Hove, group general manager
• George Thwaites, chief risk officer