QBE
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The ratings action followed QBE’s announcement that it struck a deal to sell the Puerto Rico unit.
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The loss aggregator says the December event will rank as one of the worst hailstorms on record for Australia
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Dye replaces retiring UK director Ball.
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News of the divestments coincides with a programme to shave $200mn off costs by 2021.
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Buyer Great Eastern expects to close the deal in the first half of next year.
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The global insurer also announced a $200mn cost-saving programme. -
The change comes as more firms seek trade credit cover as demand increases owing to economic uncertainty.
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‘Tsunami of data’ on commercial property set to raise underwriting performance.
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Butcher, d’Alessandro and Hunt have left the business.
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Stamp movements show the aftermath of this year’s tough planning season.
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Having already agreed to sell the bulk of its LatAm operations to Zurich in February, QBE is now in talks to divest its Puerto Rican operation.
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The carrier first wrote the full limit of the aggregate deal in 2015.
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