QBE's CFO is out in a major shake up of the senior executive team

Valery Hache/AFP/Getty Images
  • Insurance giant QBE announced five key appointment in its excutive team.
  • Going is Chief Financial Officer Michael Ford.
  • Coming in is Peter Grewal from Swiss Re and Matt Mansour of Barclays.

QBE Insurance announced a reshaping of its senior management team, poaching talent from across the industry and making internal appointments, creating a “stronger and simpler” business.

Out is CFO Michael Ford, who joined from the Commonwealth Bank, where he was deputy CFO, just under a year ago.

Ford had been appointed by QBE’s previous CEO John Neal. His replacement as chief executive, Pat Regan, took over in January.

Ford is being replaced by Inder Singh, currently the Chief Financial Officer for Australian and New Zealand Operations.

“We have commenced an accelerated reshaping of the company’s strategic focus to create a stronger and simpler QBE,” says CEO Pat Regan.

QBE has also been out poaching talent and promoting from within.

Peter Grewal has been appointed Group Chief Risk Officer, joining QBE from Swiss Re where was Chief Risk Officer.

Liam Buckley, who was Interim Group Chief Risk Officer, is the new Group Head of Culture and Talent.

Matt Mansour, the Chief Technology Information Security Officer at Barclays, is QBE’s new Group Chief Information Officer.

Anders Land is Group Head of Internal Audit after eight months acting in this role.

QBE is also searching for a Group Chief Underwriting Officer, a new role.

Regan the reshaping of the company’s strategic focus includes a prioritisation of the Brilliant Basics campiagn — improving underwriting quality, pricing and claims handling.

“To deliver this plan we need a senior management team with deep insurance expertise and the capabilities required to build on QBE’s strengths and to deliver excellence across the Group consistently,” he says.

“I am confident that these appointments will assist significantly in delivering on our priorities in 2018 and beyond.

“I would like to congratulate Inder, Peter, Liam, Matt and Anders on their appointments and thank Michael for his time at QBE.”

QBE in February posted a $US1.25 billion ($A1.6 billion) loss for the half year, after higher claims from natural disasters and writing down more than $US1 billion against its North American business.

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