QBE Re, the reinsurance division of global insurer QBE, has combined its US and international casualty treaty insurance teams into a single business unit.
The company states the decision was made to support a ‘‘unified market position’’, while it targets growth opportunities in a strengthening casualty market.
Tim Barber, QBE’s former head of international casualty treaty, will lead the new team and will report to Steve Postlewhite, the managing director of QBE Re.
Postlewhite said: “Bringing the Casualty Treaty teams together will allow us to have a much more cohesive product offering and to have a collegiate team of experienced underwriters. We want an offering that can meet the evolving needs of our customers and brokers as well as being able to take advantage of growth opportunities.”
Barber said: “Our ambition is to grow the casualty reinsurance business in 2021. We’ve moved from what was a soft market for nearly a decade to one that has seen considerable positive rate movement as a result of recent high-profile losses, economic uncertainty, and long periods of underpricing.
“Customers are focusing more on relationships with partners who offer financial strength, longevity and the ability to innovate.”
He added: “QBE Re embodies all these traits, along with underwriters empowered to make decisions quickly. Having all our casualty experts together in one team will only strengthen this proposition.”