QBE has appointed Julie Wood as interim CEO North America, taking over from Todd Jones who will leave the business at the end of this month.

Ms Wood, who is based in the US, joined the insurer in January as Group Head of Distribution. She was previously at Marsh as their South East Partnership & Zonal leader, and member of the US Executive Committee.

Ms Wood will oversee the North American business while QBE undertakes a search process to fill the role on a permanent basis.

The departure of Mr Jones, who has occupied the CEO North America position for nearly four years, comes as QBE works to improve its business there, the weakest division based on recently announced first-half financial results earlier this month.

The North America division’s combined operating ratio blew out to 106.9% in the June half, from 95.9% a year earlier, as convective storm and flood losses in the US affected earnings.

Catastrophe costs were 9.3% of net insurance revenue, up from 2.8% due to a high frequency and severity of convective storm and flood events over the half year, QBE said.

The North America result also included prior year reserve strengthening of 3.9% which reflected adverse development for winter storm Elliott and Crop, and compared to 3.6% favourable in the prior period.

Group CEO Andrew Horton said improvements in North America, which has often been a problem area for the company in the past, remain a priority, but the business has been simplified and many parts are performing well.

“We haven’t been as consistent in our US business as we could or should have been, and we just need to get that consistency, and bring everything up to the level of the best,” he said.