QBE centralises global reinsurance business in London

Australia-based  QBE Insurance Group is restructuring its global operations in a move to "take advantage of improved reinsurance market conditions".

The company has said it will centralise its inwards reinsurance operations within its London unit under the leadership of Steve Postlewhite.

As a result of the restructure, QBE’s North American inwards reinsurance business will be included in the results of QBE Re, part of the international segment.

The changes will come into effect with the reporting of the 2020 full year result scheduled to be released on February 19.

QBE has stated that this segment reporting change does not impact the group’s overall results.

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