QBE Insurance has merged its Latin American and Asia-Pacific operations to create an emerging markets division.
As a result of bringing the two divisions together, current chief executive officer (CEO) of Asia Pacific operations, David Fried, has been appointed the CEO for the emerging markets division.
Fried will work closely with current Latin America operations CEO, Jose Sojo, to ensure that the new division is established with a clear understanding of the depth and breadth of opportunities in both markets, said the company.
John Neal, QBE Group CEO, said: “A critical part of our value creation model, outlined in our 2012 and 2013 annual reports, has been QBE’s focus on building our presence in emerging markets. When looking at both these regions through the emerging markets lens, we see significant upside for QBE, both in the way we operate and the way we work to deliver relevant and differentiated products and services to our growing customer base.”
Neal said: “This change in structure and management also aligns with Jose Sojo’s decision to take on a new challenge outside our group. Jose will remain with the group until the end of 2014 to ensure there is a thorough handover to David.”
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QBE, Latin America, Asia-Pacific, David Fried