QBE
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The firm’s exposure to the Ukraine-Russia conflict, as well as a loss portfolio transfer, were confirmed in a performance update. -
A restructure will see a global product leader appointed for all QBE Re’s business lines.
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QBE is targeting strategic growth in its Continental operations with the appointment of Beatriz Valenti.
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The Australian carrier will stop providing cover in the country from 1 July.
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In her new role, she will report Chris Wallace, executive director of UK insurance.
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Current casualty leader Tim Barber will take over the US treaty role on an interim basis.
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All the new appointments are based in London and report to Carly Eveniss, portfolio manager, commercial financial lines.
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The syndicate noted that it was exposed to political violence, political risk and marine classes within Ukraine.
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The carrier is focused on maintaining balance across its portfolio and is growing more in specialty reinsurance than property cat.
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Nigel Cooper most recently held the position of senior construction underwriter, global construction at Travelers.
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The group’s MGA platform Millennial Specialty has also entered a programme administrator agreement with a QBE affiliate.
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The firm’s worldwide cat top layer grew by 75%, but its “top or drop” limit declined 25% and aggregate deductibles increased.
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