QBE consolidates global reinsurance operations

SYDNEY—QBE Insurance Group Ltd. is consolidating its worldwide reinsurance operations under the brand QBE Re, the company said.

Comprising the company’s current Lloyd’s of London syndicate 566, QBE Re (Europe), Secura N.V. and QBE Re (Americas) businesses, the combined group will have a gross written premium of more than $1.5 billion, Sydney-based QBE said Wednesday.

Jonathan Parry, currently based in London as QBE’s European chief underwriting officer for reinsurance, will lead the enterprise as chief underwriting officer of QBE Re.

Other key personnel include London-based Paul Horgan, head of property, and New York-based Chris Larson, head of casualty and U.S. multiline. Brussels-based Luc Boghe, head of European multiline, and London-based Peter Wilkins, head of specialty lines, round out the leadership team.

The new business model will combine the scale and diversification of a global business with deep local underwriting expertise, Mr. Parry said in a statement.

“This global approach allows us to create a platform where we can provide the best possible service to our clients worldwide,” said Mr. Parry. “Our business philosophies, market approach and appetite will be coordinated, which in turn will help ensure greater consistency across underwriting, pricing, risk management and reserving.”