QBE says the appointment last week of group executive Richard Pryce as interim CEO will provide continuity as a search continues to fill the top role on a permanent basis.

Mr Pryce became International CEO last year when the company merged its European and Asia operations but was due to retire this quarter after handing over to former Axa XL executive Jason Harris, who has now started in the role.

As Interim Group CEO Mr Pryce will continue to promote measures underway to improve performance, including cell reviews, and “brilliant basics” initiatives, and he is a strong supporter of making the company more customer-centred, Chairman Mike Wilkins says.

“Richard is well known to employees and investors and is well-respected in the insurance industry,” he said.

Former CEO Pat Regan was shown the door in September when an investigation into his workplace communications found “poor judgment” on his part. Mr Wilkins has been filling the combined role of Executive Chairman.

An extensive global search to identify a new CEO is progressing and the company will update the market when appropriate, QBE says.

Mr Pryce has worked in the London insurance market for more than 35 years, beginning with the RW Sturge syndicate at Lloyd’s where he became claims director, and has also held senior positions with Ace.