QBE Insurance has appointed long-serving executive and current head of its global reinsurance operations, Chris Killourhy, as Group Chief Financial Officer, marking the latest step in a two-decade career with the insurer across multiple markets.
Mr Killourhy, who has led QBE Re since 2022, will assume the new position on 1 January 2026, subject to regulatory approvals. He will relocate to Sydney and report directly to Group CEO Andrew Horton, joining the company’s executive committee.
The appointment reflects a steady rise through QBE’s financial and actuarial ranks, as well as deep familiarity with both reinsurance and capital management disciplines. His career with the insurer spans key roles including CFO for QBE International, CFO for Australia and New Zealand, and Chief Actuary. Before returning to the group in 2017, Mr Killourhy held senior positions at the Bermuda Monetary Authority and Tokio Marine Europe, having begun his actuarial career with Deloitte and Novae.
In a recent interview, Mr Killourhy said QBE Re had sustained solid momentum despite a challenging claims environment, including early-year wildfire losses in the United States. “We’re pretty pleased with how the year has gone,” he said. “We’re pleased with the level of growth we’ve achieved. Like a lot of people, we have definitely seen rate softening, but for the most part it’s in markets where we feel they’re at adequate levels and can afford to sustain some softening.”
He noted that while the California wildfires were “a tough start” for the sector and affected communities, the market’s pricing response was “pretty sensible,” particularly in US renewals.
Under Mr Killourhy’s leadership, QBE Re has roughly doubled its reinsurance premium income while deliberately narrowing its cedant base. The business, he said, has focused on building scale where it reinforces long-term partnerships rather than simply chasing volume.
“This is probably not a market for also-rans,” he observed, pointing to QBE Re’s growing relevance to major brokers and cedants. “For many of our core clients, we’d now be well into their top 10, and for the bigger brokers, we’d be within their top 20.”
Mr Killourhy has also spoken of the broader strategic value a reinsurance arm brings to a diversified insurance group such as QBE. Following events such as Hurricane Ian, he said the company reassessed how its reinsurance operations could complement its primary business by offering earnings diversity and exposure to markets underrepresented elsewhere in the portfolio.
While acknowledging that reinsurance pricing has softened in parts of the market this year, Mr Killourhy said disciplined growth remains possible for players with the right balance of capital strength, diversification, and underwriting focus. “Our growth has been about being selective,” he said. “We’ve concentrated on markets where pricing remains adequate and where we can bring value beyond price.”
His promotion to group CFO formalises a trajectory shaped by technical expertise and strategic insight—qualities QBE appears keen to harness as it navigates a shifting global insurance landscape.
