QBE, the Australian headquartered global insurance and reinsurance group, is centralising all of its global inwards reinsurance underwriting business to be managed in London under Steve Postlewhite.
Stephen Postlewhite stepped up to become the Managing Director of QBE Re, the global reinsurance underwriting division of QBE, in Q1 of 2020.
QBE said that it has now decided that, “To take advantage of improved reinsurance market conditions and to enhance performance, QBE’s global inwards reinsurance operations have been centralised,” under Postlewhite’s leadership.
It means that QBE’s reinsurance underwriting in the United States and Canada will now fall under his remit as well.
The company explained that QBE’s North American inwards reinsurance business will now be included in the results of QBE Re.
It will sit as part of QBE’s International segment, which will align the financial reporting insurers inwards reinsurance operations with the management of those operations, the company explained.
QBE has been writing more reinsurance in the United States in recent years and over the last twelve months has grown its book there to capitalise on reinsurance rate trends.