QBE announces more leadership changes
Posted On: Apr. 11, 2018 8:01 AM CST
(Reuters) – Australia’s QBE Insurance Group on Wednesday appointed Inder Singh as chief financial officer, replacing current CFO Michael Ford who joined the group less than a year earlier in May 2017.
Mr. Singh is currently the chief financial officer for QBE’s Australian & New Zealand Operations, the company said in a statement.
This follows QBE recording an annual loss of about $1.2 billion in February and logging a $600 million earnings hit last October, after by a medley of natural disasters.
This is QBE’s second top executive change after the company saw its chief executive stepping down in September, capping a tumultuous period for the global insurer with cost blowouts, profit downgrades and declining shares.
“We have commenced an accelerated reshaping of the company’s strategic focus to create a stronger and simpler QBE,” said current Chief Executive Pat Regan.