QBE, Australia's largest global insurer, has reshuffled its senior management team in a bid to become a “stronger and simpler” business.
The change comes after the insurance giant posted a $1.6bn full-year loss in February and a $600m earnings hit last October, impacted by a series of natural disasters.
Inder Singh, current chief financial officer (CFO) for QBE's Australian and New Zealand operations, has been appointed group CFO, replacing Michael Ford, who joined just May last year, AAP reported.
Meanwhile, Peter Grewal will join QBE from Swiss RE as chief risk officer in July; interim chief risk officer Liam Buckley will take on the new role as head of culture and talent; Barclays' Matt Mansour will become London-based chief information officer later this year; and Anders Land has been appointed head of internal audit after eight months acting in this role.
“We have commenced an accelerated reshaping of the company’s strategic focus to create a stronger and simpler QBE,” QBE CEO Pat Regan said. "I am confident that these appointments will assist significantly in delivering on our priorities."
QBE is still on the hunt for a chief underwriting officer, the report said.
