QBE
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In a review of financial services firms’ D&I policies that highlighted shortcomings, the regulator said policies need to be holistic, and not generic. -
The carrier has become the latest in a string of reinsurers unwilling to write retro at 1 January.
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US transactional liability SVP Toria Lessman will lead the European build-out.
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The insurer’s expected full-year combined ratio is 94% and constant currency GWP growth 10%.
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The claim will add pressure to an already stressed downstream market facing resurgent loss activity.
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The deal follows a decision to withdraw from some direct Irish business.
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The process provides further evidence of larger deal sizes becoming more frequent in the legacy space.
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The OS 35 has P&I coverage in place with QBE’s British Marine, which will shoulder clean-up costs from the incident.
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Bernd Luckey’s appointment comes amid a number of senior moves within the construction market.
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Chris Killourhy joined QBE in June 2015 and has held several roles in the company, including chief actuarial officer and CFO of QBE’s Australia Pacific division.
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Cat claims for the half amounted to $175mn including the impact of the Ukraine conflict.
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The carrier said the movement was driven by unfavourable bond performance and reserve deterioration.
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