QBE Insurance Group (Sydney, Australia) announced the appointment of John Rumpler to the position of CEO, Americas division at the company's April 8 annual general shareholder meeting. Rumpler, will assume his new role in June, based at the division's New York headquarters. Rumpler was previously QBE's group general manager, Credit & Security, where he had led the development of the credit, surety and lenders mortgage insurance business since joining QBE in 1997. Initially focused in Australia, this business has grown to operations in 13 countries and more than AU$550 million in gross written premium, according to a QBE source.
Rumpler will drive the Americas division's in-flight strategy of growth and focused diversification, the QBE source states. The division's business comprises four distinct operating units: QBE Regional, QBE Reinsurance and QBE Specialty in the United States and QBE Latin America in Argentina, Brazil, Colombia and Mexico.
The Americas Division produced a solid financial result in 2008, despite challenging market conditions and a heightened loss environment due to a record frequency of catastrophes, QBE reports. Its net income was $236 million on its $3.7 billion in gross written premium, which increased more than 22 percent from 2007.
"QBE has a stable and proven leadership team in the Americas. They continue to deliver quality underwriting results and exceptional service to ensure our competitive position in diverse markets," Rumpler says. "I look forward to working more closely with them to further strengthen our balance sheet and the long-term financial health of our Company, partners and shareholders." John succeeds QBE's Chief Operating Officer Vince McLenaghan, who also served as Acting President and Chief Executive Officer of the Americas Division since June 2008. McLenaghan will continue in his role as Chief Operating Officer for QBE's global operations.
"We expect a seamless transition," McLenaghan says. "In John's previous role, he was closely involved in the development of our U.S. Trade Credit and Surety business, and recently in the acquisitions of the Exporters team and ZC Sterling. He is well equipped to take the helm and continue QBE's momentum in the Americas."
Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio