QBE Asia has introduced a new parental leave policy that applies to employees who became parents on or after Jan. 1, 2025.
Under the revised terms, all qualifying employees – regardless of gender or the path to parenthood – are entitled to a minimum of 12 weeks of paid parental leave.
This update aligns with QBE Insurance Group’s global initiative to harmonise employee benefits across its international operations.
The standardised benefit structure applies to employees in multiple Asian jurisdictions, with full-pay leave provisions now matching maternity entitlements in each market.
Under the new terms, Hong Kong employees will receive 14 weeks of paid leave, Singapore staff 16 weeks, and employees in Malaysia 14 weeks. In Vietnam, the duration may extend up to 26 weeks.
Employees who became parents in 2024 will be eligible for six additional weeks of paid paternity leave in 2025, designed to bridge the gap between current and forthcoming entitlements.
Rob Kosova (pictured), chief executive officer of QBE Asia, said the policy aims to provide equitable leave for all employees welcoming a child.
“Regardless of how our people become parents, we now have equality of leave for anyone who welcomes a child. This gives our people greater choice and flexibility when navigating a significant milestone in their life, enabling just that little bit of extra resilience, and supporting individual families as well as the communities in which we live,” he said.
The policy is positioned as part of a long-term employee experience strategy designed to promote a balanced work-life model and to retain talent in a competitive labour environment.
The parental leave update comes shortly after QBE released its financial results for the first quarter of fiscal year 2025 (Q1 2025).
Gross written premium (GWP) increased by 8% year-over-year on a constant currency basis, with 3.4% attributed to rate increases and 7% to organic volume growth. Growth was led by QBE’s International and North American divisions.
Offsetting this, the company cited a US$100 million decline linked to the runoff of non-core portfolios in North America. Excluding those segments and its crop business, underlying premium growth remained steady at 8%.
QBE has reaffirmed its full-year financial guidance, projecting constant currency premium growth in the mid-single-digit range. This forecast includes an anticipated US$250 million impact from further exits in the North American market.
The company continues to target a combined operating ratio of approximately 92.5% for the full year.
QBE is expected to report its half-year earnings on Aug. 8.
