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QBE CEO Regan overhauls leadership team

QBE chief executive Pat Regan has overhauled his senior leadership team, two months after the insurance giant reported a $1.6 billion full-year loss.

Chief financial officer Michael Ford will leave and be replaced by local CFO Inder Singh, while Peter Grewal will join from Swiss Re as chief risk officer in July.

Interim chief risk officer Liam Buckley will take on the new position of head of culture and talent, Barclays' Matt Mansour will become London-based chief information officer later this year, and acting head of internal audit Anders Land has been given the job on a permanent basis.

"We have commenced an accelerated reshaping of the company's strategic focus to create a stronger and simpler QBE," Mr Regan said.

"I am confident that these appointments will assist significantly in delivering on our priorities."

QBE is still on the lookout for a chief underwriting officer.

QBE slipped to the huge 2017 loss after natural disaster cost blowouts, a goodwill impairment and a writedown of deferred tax assets following the reduction in the US corporate tax rate.

Its share price has oscillated wildly over the past five years, and has dropped almost 30 per cent since May.

They were worth $9.56 before the start of trade on Wednesday.

Austrlaian Associated PressBack to Breaking News

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