QBE Brand Consolidation - 5.11.07

QBE announced today the rebrand of Limit Underwriting Limited, Ensign and MBP under the QBE name and the simultaneous launch of its new product and distribution structure. The full press release is attached.

"With effect from the 1st January 2008, QBE's European Operations will move from twelve individual business units and syndicates, which were operating under four different brands, Limit, Ensign MBP and DA Constable Syndicate 386, to offering eight product-focused underwriting divisions. The eight divisions, controlling £2.5bn of income, will unify QBE's company and Lloyd's market operations and will give brokers improved access to an extensive product range.

The new underwriting divisions will be:

Underwriting Division Managing Director(s) 2008 plan

Casualty Ash Bathia, David Constable £906m
QBE Re Europe Jonathan Parry £368m
Property Peter O'Neill £331m
Motor Matthew Crane £247m
Marine & Energy Colin O'Farrell £246m
Specialty Graeme Rayner £137m
Aviation Emilio di Silvio £108m
British Marine Robert Johnston £102m
Total £2445m

Of particular significance to brokers, all product divisions will have access to both Lloyd's and company paper and consequently will be able to provide choice and the appropriate level of security according to the needs of brokers and clients. The reorganisation will ensure that, as well as enhancing its presence in the key Lloyd's and London company markets, QBE will be able to take its products to market through seven UK regional underwriting centres and fifteen European branches".