QBE Canada is poised for action in Canada’s thriving commercial insurance market. The firm recently appointed new leaders to its executive ranks as it looks strengthen its operations and pounce on further growth opportunities.
The Canadian arm of the Australian insurance giant has experienced consistent growth since first opening in Canada in 2010. Canadian clients – insurance brokers and end-consumers – can place business locally via QBE Canada offices in Toronto and Vancouver, or via QBE’s wholesale operation in Lloyd’s of London.
Jamie Thompson, who took on the role as director of QBE Canada earlier this year, has oversight of QBE’s Canadian customers, including those who purchase insurance from QBE’s Lloyd’s operation. Commenting on the leadership changes, he said: “We’re always looking at our business to see how we can best reflect our clients’ needs. We have our four key products – property, casualty, auto and financial lines – and we work to provide insurance solutions that go beyond a transactional relationship towards a more holistic value-added partnership with our clients.
“The leadership changes we’ve announced recently are driven by that holistic positioning. All of the changes have been promotions, which is wonderful. I think it’s really important that we bring people through the business who understand the DNA of QBE. That consistency of message and consistency of service is what people really want.”
As part of the leadership re-shuffle, Darren Goldman, the former claims manager for QBE Canada, has been appointed general manager for Canada. He will oversee claims, operations, and finance, and will “build a bit more structure and vigour around everything non-underwriting,” according to Thompson. The current underwriting manager for financial lines and cyber, Scott Pidduck, is taking on the position of director of underwriting after Valerie Jobson announced she will retire at the end of 2018.
Richard Newman has been appointed as the new underwriting manager for casualty and automobile. Thompson said there was an obvious synergy between clients’ needs for casualty and for auto. Bringing the two products together under one leadership gives QBE Canada better opportunities to look more holistically at the risks – a move that has been welcomed by local brokers.
“The brokers are in a really strong position in Canada, and that won’t change,” Thompson told Insurance Business. “All of our business is done through the broker channel, and as the market becomes a little tougher, our relationship with the brokers is going to become even more important. That’s how we will continue to make sure we’re moving things forward and achieving our goals.”
At present, about 50% of QBE Canada’s business is written locally through Toronto and Vancouver, and 50% is written out of its wholesale London operation. As the firm strengthens its operations and leadership team domestically, Thompson expects to see more growth in Canada.
“I think more clients want to buy locally. They want local claims handling, they want local underwriters and they want someone who understands their risks. They want someone who knows the difference between Quebec and Ontario, and someone who knows where the CN Tower is. Therefore, I think we will see more and more opportunity as we strengthen our presence domestically,” he said.
“The Canadian commercial insurance market is a very sophisticated market and it works well. We’re going to keep targeting Canadian growth because Canada is a hugely important market for QBE globally, and I’m really excited to be driving the team forward.”
