QBE Re has appointed Soichiro Tanaka (pictured above) as its head of Southeast Asia, a newly created role that underscores the reinsurance division's push to build scale in one of the industry's fastest-growing regions.
Tanaka brings 13 years of insurance and reinsurance experience across Asia. He joins from Aspen, where he served as a senior underwriter and contributed to growth across property, casualty, and specialty lines for the company's Singapore branch.
In the new position, Tanaka will lead underwriting strategy for Southeast Asia, with responsibility for portfolio management and growth. He will be based in Singapore and report to Cindy Foo, head of Asia, Treaty.
Foo's role was itself newly created in October 2025, when QBE Re established a dedicated treaty reinsurance hub in Singapore. The division described the move at the time as part of a plan to build a sustainable, client-focused treaty franchise in Asia.
The hiring spree comes as Southeast Asia draws increasing attention from global reinsurers. Data from Cognitive Market Research values the region's reinsurance market at $6.47 billion in 2025, with a projected compound annual growth rate of 7.6%.
The opportunity is driven in large part by underinsurance. Aon analysis has shown that since 2000, only about 12% of economic losses from floods and tropical cyclones in the region have been insured. Munich Re's 2025 annual review found that just 12.3% of Asia's $73 billion in total natural disaster losses last year were covered.
The Monetary Authority of Singapore's managing director noted at the 2025 Singapore International Reinsurance Conference that re/insurers are increasingly expanding headquarters and operations in the city-state.
Chambers and Partners' 2026 insurance guide describes Singapore as the insurance and reinsurance hub of Asia, citing its stable geopolitical and legal environment as a draw for firms looking to cover large and complex risks across Southeast Asia.
QBE Re now accounts for 12% of the broader group's net earned premium. The US makes up roughly 40% of the division's book, with property representing about a third. Asia sits within the remaining geographic mix as a growth market.
QBE Re managing director Chris Killourhy told an industry conference in September 2025 that the division had roughly doubled its premium in recent years while reducing its cedant count. He said growth was focused on markets where pricing remains adequate.
Foo said the latest hire supports the division's continued expansion. "We are delighted to welcome Soichiro to the role as we continue to grow our Asia portfolio," she said, adding that his "strong technical expertise and breadth of multi-line experience in Southeast Asia will be an asset to QBE Re."
