QBE : Everything you need to know

QBE Reinsurance (QBE Re) is the global reinsurance arm of QBE Insurance Group, offering treaty and facultative solutions. In 2023, it posted over $1 billion in recoveries, with reinsurance making up 12 percent of net earned premiums.

History of QBE Reinsurance

QBE traces its origin to the foundation of The North Queensland Insurance Company Limited (QI) in 1886. In 1973, QI merged with Bankers’ and Traders’ and Equitable to form QBE Insurance.

QBE Reinsurance Corp. (USA) was created in 1993 to build a strong reinsurance presence in America. Other important events include:

• 2003: QBE Management (Bermuda) Limited created to support international reinsurance operations
• 2007: acquired General Casualty Insurance to increase US footprint
• 2011: bought Balboa Insurance from Bank of America, strengthening US operations
• 2019: ended direct insurance for thermal coal as part of climate policy
• 2022: reorganized global reinsurance leadership and strategy structure

In 2024, QBE Re emphasized maintaining underwriting discipline amid increased market capacity. They highlighted the importance of sustainable partnerships and cautious optimism in a shifting reinsurance world.

Reinsurance products and services

QBE Reinsurance writes a wide range of global reinsurance programs and leads each line it supports:

• property: a mix of proportional, catastrophe excess, and risk covers for global and retrocession clients
  • retrocession: reinsurance support for reinsurers managing global risk portfolios
• casualty: includes general liability, motor, financial lines, workers’ comp, and cyber programs
  • financial lines: covers directors & officers, errors & omissions, and other liability risks
  • WCA: statutory and employer liability reinsurance for workers’ compensation schemes
  • cyber: standalone or packaged cyber risk reinsurance across global markets
• specialty: offers marine, energy, aviation, WTPV, and contingency reinsurance on standalone or composite basis
• accident & health: treaty and facultative reinsurance for health and accident, mostly US, now expanding globally
• life: mortality and morbidity reinsurance for clients in Europe, South America, Middle East, and Africa

QBE Re supports clients with flexible, global coverage backed by tailored underwriting and risk insight. Its dedicated claims team ensures clear communication and fast resolutions for complex reinsurance events.

Culture and core values

QBE Reinsurance describes its people as passionate, talented, and kind—at the center of its success. Its QBE DNA gives staff a shared language to build a genuine and supportive workplace culture.

Workplace environment and benefits

The company promotes a safe, inclusive space where people feel heard and valued every day. The benefits they offer their employees include:

• well-being: health programs, flexible work, mental health support, life leave, and financial wellbeing tools
• reward and recognition: competitive pay and DNA Champions awards for living QBE’s purpose
• growing your career: global secondments, development plans, leave for study, and learning opportunities
• flexibility: hybrid working, job sharing, part-time roles, and flexible start and end times
• support: employee assistance programs and leave options for major life events

QBE’s hybrid model helps staff work across teams and locations, while managing life’s changing needs. From daily schedules to long-term plans, people have options to balance work and personal life.

Inclusion of diversity

QBE Reinsurance values diverse experiences, from visible traits to personal ideas, values, and perspectives. Their focus on inclusion has earned recognition across regions and equity benchmarks for many years:

• North America: 5-star DEI carrier by Insurance Business America in 2022
• Australia Pacific: Gold Employer 2019–2021 (Australian Workplace Equality Index)
• LGBTQ+ inclusion: Stonewall 2022 Workplace Equity Index (QBE Europe)
• Global recognition: Bloomberg Gender Equality Index 2018–2023
• Gender leadership: Equileap Top 100 for Gender Equality

QBE Re takes a measured, target-led approach to inclusion across identity and belonging. The goal is a culture where every person feels accepted, no matter how they identify.

Sustainability approach

QBE Reinsurance aims to make a positive impact at work and in the world. It supports a resilient workforce and strong ties with communities, economies, and the environment. Through the QBE Foundation, employees contribute to partners like Red Cross and Save the Children.

The future at QBE Reinsurance

QBE Re expanded its accident and health division with five new hires in 2024. The appointments reflect its push to grow the A&H portfolio through technical expertise and leadership. This move supports their broader goal to strengthen key products and long-term service standards.

The company recently completed a $1.2 billion legacy transfer deal with RiverStone International. The transaction boosts RiverStone’s global reach and strengthens its Bermuda and Lloyd’s platforms. QBE Reinsurance is focused on strategic growth through trusted partnerships and forward-looking operations.