QBE is set to report its divisional performance prior to the impact of quota share cessions to captive reinsurer, Equator Re.

Previously the share cessions had been reflected in the statutory accounts of each division but it was felt this affected clarity. The move is intended to increase transparency and attribute results purely to the division to which they relate.

The change will take effect from the full-year results, due to be announced on February 24.

Company Secretary Peter Horton says the change in methodology does not influence the group’s overall result, but will provide investors with “a simpler and more meaningful picture of the scale and underlying performance of the group’s divisions”.

Meanwhile, QBE has announced one of its businesses is expanding, with the North American division launching a transactional liability practice.

It will underwrite two new products – representations and warranty insurance and tax liability insurance on a primary and excess basis.

Practice Leader Dennis Kearns says the new products mean the company is positioned as a full service provider to public and private enterprises.