QBE MERGES EUROPEAN NON-LLOYD’S OPS

Australian insurer QBE has announced that the two European trading divisions of its company (non-Lloyd’s) underwriting operations are to be merged with immediate effect. The retail division, which trades as Ensign, and the European commercial division, will henceforth be known as QBE Insurance (Europe). It will use the licences of QBE International Insurance and QBE Insurance Co (UK) in the UK, and that of QBE Reinsurance (Europe) in Dublin. Current retail division managing director John Neal has been appointed QBE Insurance (Europe) managing director. Stephen Price (managing director, European commercial division), Clive Allenby and Paul Kurgo will be leaving. QBE said that the move would enable a greater co-ordination of underwriting strategy, while the simplification of the management structure would “deliver further efficiencies and cost savings in the medium term by a more integrated approach to business support”. Last September QBE rationalised the European management structure, making Stephen Burns CEO of European operations and parting company with Paul Glen, Wayne Lewis and Ferghal O’Regan.