QBE today announced immediate changes to its Group Executive structure as it makes the transition from Frank O’Halloran as Group CEO to John Neal.

All group executives except Mr O’Halloran now report directly to Mr Neal, who will take over from Mr O’Halloran on August 17.

In addition to Mr Neal and Mr O’Halloran, the Group Executive comprises:

Steven Burns, CEO European Operations;
Neil Drabsch, Group CFO;
Colin Fagen, CEO Australian & New Zealand Operations;
John Rumpler, President and CEO North America Operations;
Jenni Smith, Group Executive Officer People and Communications;
Jose Sojo, CEO Latin America Operations; and
George Thwaites, Group Chief Risk Officer.

Asia Pacific CEO Mike Goodwin will leave full-time employment with QBE on July 27, but will remain a non-executive director on some of QBE’s Asia boards.

Mr Goodwin’s replacement, once appointed, will become a member of the Group Executive.

Under the revised structure, CFO Neil Drabsch will take on additional responsibility for the Group Investment division, Investor Relations and Internal Audit.

Group Chief Risk Officer George Thwaites will take on additional responsibility for Group Actuarial, “thereby enabling better co-ordination of our risk and actuarial teams and reflecting the importance we place on managing risk”.

Chief Underwriting Officer, North America Operations Jim Fiore has been appointed to the new role of Group Chief Reinsurance Officer, reporting to Mr Neal.

QBE says Mr Fiore will manage QBE’s outwards reinsurance, including external reinsurance placements of the group and oversight of QBE’s captive reinsurer, Equator Re.

The inwards reinsurance business, QBE Re, will remain reporting to Jonathan Parry in London.

Group General Counsel and Company Secretary Duncan Ramsay will also report directly to Mr Neal.