QBE has appointed a new CEO of Global Underwriting Operations whose responsibilities within the group place him at a virtual Number Two position to Group CEO Frank O’Halloran.

John Neal – currently QBE’s Chief Underwriting Officer in Europe – will take up the new role in the group’s Sydney head office on January 1.

The divisional CEOs – including new Australia Asia Pacific CEO Vince McLenaghan – Global Head of Distribution Terry Ibbotson, Group Actuarial Officer, Group Chief Risk Officer and Group Human Resources, will all report to him.

Previously these positions reported directly to Mr O’Halloran.

Mr Neal will be responsible for day-to-day management of the group’s underwriting performance and the three main operating divisions of America, Europe and Australia Asia Pacific.

Mr O’Halloran said in a statement that Mr Neal is a “highly competent insurance professional with a ‘can do’ approach”.

Until 2004 he was owner and CEO of Lloyd’s managing agency Ensign. Prior to that he held senior roles in Lloyd’s and other market organisations.

Following the acquisition of Ensign’s motor business he was appointed to the board of QBE European Operations. 

He became MD of QBE Europe in 2005, COO of European Operations in 2007, and Chief Underwriting Officer for European Operations in 2009.

QBE traditionally declines to comment on market speculation, but it’s likely that Mr Neal’s appointment will raise analysts’ antennae when the impressive range of responsibilities he has been given are examined in more detail.

Mr Neal’s appointment will certainly be interpreted – rightly or wrongly – as an important step in the evolution of the QBE board’s CEO succession strategy.