QBE boss shakes up leadership
QBE Insurance chief Pat Regan is revamping the group’s senior leadership ranks less than four months after taking the reins.
The insurance heavyweight has announced a slew of executive appointments as Mr Regan moves to revive its fortunes.
It comes two months after the group reported a $1.6 billion net loss for the year to last December.
Among the changes, chief financial officer Michael Ford is leaving and will be replaced by Inder Singh – a chartered accountant who has been serving as chief financial officer of the group’s Australian and New Zealand operations.
QBE has recruited Peter Grewal from global reinsurance titan Swiss Re, where he is chief risk officer for reinsurance. Mr Grewal will be chief risk officer at the Australian insurer, succeeding Liam Buckley, who had been serving in that job on an acting basis. Mr Buckley has been appointed head of culture and talent.
Announcing the appointments yesterday, Mr Regan said the insurer had “commenced an accelerated reshaping of the company’s strategic focus to create a stronger and simpler QBE”.
“This includes improving underwriting quality, pricing and claims handling in every market in which we operate and every product we underwrite,” he said in a statement.
QBE shares climbed 2¢, or 0.2 per cent, yesterday to $9.58.