QBE Re, the reinsurance division of the QBE Insurance Group, has appointed Andy Richardson as its new underwriting head for Bermuda.
Richardson is joining QBE Re from Aeolus Capital Management, Bermuda where he was portfolio manager.
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Earlier, he also held senior roles at Lancashire Insurance and Guy Carpenter.
In his new assignment, Richardson will be responsible for driving the growth of the reinsurer’s Bermuda platform.
He will also focus on further bolstering the global property capability, the company said in its press statement.
Richardson, who will assume the new role at the beginning of June this year, will report to Tracey Gibbons, head of QBE Re Bermuda.
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By GlobalDataQBE Re managing director Chris Killourhy said: “I am pleased that we have been able to attract someone of Andy’s calibre to QBE, whilst demonstrating our commitment to the Bermuda market. Andy’s background, as both a broker and an underwriter in several jurisdictions, coupled with his extensive knowledge of the Bermuda and global property reinsurance markets, will be a huge asset.”
The reinsurer noted that it has witnessed increased demand from global clients for specialty and property reinsurance in Bermuda.
In August last year, insurtech ZEGO has partnered with Australia-based insurance group QBE to enhance its fleet insurance offerings.
As a part of the deal, QBE will underwrite Zego’s behaviour-led fleet product.
In June 2022, QBE Insurance Group collaborated with CyberCube to boost its cyber capabilities.
CyberCube will provide a range of solutions to the insurer, including its Account Manager as well as Portfolio Manager platforms.
A scenario-based data-driven model, Portfolio Manager allows risk professionals to build insights for their teams and enables stress testing of insurance risk portfolios to detect loss drivers.
