NEW YORK, April 29, 2022 /PRNewswire/ — QBE North America today announced the launch of a Specialty Casualty business as part of its strategy to invest in areas where the insurer can offer distinct advantages to business customers.
“With QBE Specialty Casualty, we see a clear opportunity to build a long-term franchise that is grounded in expert underwriting with a data-driven approach to meet the unique needs of customers,” said Tom Fitzgerald, President of Specialty & Commercial insurance at QBE North America. “It will allow us to deepen our relationships with our limited and preferred network of brokers while we further improve the balance and synergies in our diversified business portfolio.”
QBE Specialty Casualty's offering will include admitted and non-admitted primary, lead umbrella and excess liability products, targeting a wide range of business segments across a diverse set of industries.
To launch the new business unit, QBE has hired a team led by four senior executives with proven track records of building market-leading capabilities in Specialty Casualty while generating stable and sustainable performance over time.
Taking newly created posts to lead the business are: Karen London, President, Specialty Casualty; Mike Foley, Chief Underwriting Officer, Specialty Casualty; Morgan Wichmann, Head of Casualty non-Construction; and Craig Freid, Head of Casualty Construction. All four have decades of experience in the Specialty Casualty market with a heavy focus on complex and hard-to-place risks. Prior to joining QBE, they held leadership positions at Berkshire Hathaway.
“Our team has an unmatched reputation, and we are confident they will build the industry's leading Specialty Casualty business,” said Fitzgerald. “We're excited to have them on board and look forward to their contributions to QBE North America.”
Karen London added, “QBE has state-of-the-art systems and tools to support the Specialty Casualty products and services. We are thrilled to bring our expertise to QBE leveraging capabilities, building a team and platform from the ground up to deliver customized risk solutions for customers.”
QBE North America is a global insurance leader focused on helping customers solve unique risks, so they can focus on what matters most. Part of QBE Insurance Group Limited, QBE North America reported Gross Written Premiums in 2021 of $6.29 billion. Information on QBE Insurance Group's results can be found at qbe.com. Headquartered in Sydney, Australia, QBE operates out of 27 countries around the globe, with a presence in every key insurance market. The North America division, headquartered in New York, conducts business primarily through its insurance company subsidiaries. The actual terms and conditions of any insurance coverage are subject to the language of the policies as issued. QBE insurance companies are rated “A” (Excellent) by A.M. Best and “A+” by Standard & Poor's. Additional information can be found at qbe.com/us.
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SOURCE QBE North America