QBE Re has named Cindy Foo (pictured above) as head of Asia, Treaty 1, effective Dec. 1.
The role of head of Asia, Treaty 1, is newly established as part of QBE Re’s plan to expand its treaty reinsurance operations in Asia. Singapore will serve as the central hub for this expansion.
Foo has more than 20 years of experience in the reinsurance sector, with previous senior underwriting and client management positions at Berkley Re Asia, Asia Capital Re, Swiss Re, and Munich Re. At Berkley Re Asia, she was head of underwriting and branch manager, where she helped develop the regional portfolio since 2016.
Foo will be based in Singapore and will report to Abdallah Balbeisi, executive director of Europe and growth markets.
Balbeisi said the company is “delighted to welcome Cindy to QBE Re,” citing her technical underwriting skills and relationships across Asia as key assets for the new Asia hub.
“Cindy’s appointment underscores our ambition to build a sustainable, client-focused treaty franchise in the region, while working closely with our wholesale business (facultative) to ensure our renewed focus complements QBE’s strategies in Asia,” Balbeisi said.
QBE Re’s announcement comes amid a broader organizational restructuring, which recently saw the company unveil a new leadership team.
The reinsurance business has appointed six executive directors to oversee three regional markets – Europe, Middle East and Africa (EMEA); International (including Lloyd’s and Bermuda platforms); and North America – as well as three product lines.
In addition to Balbeisi’s role, the new market leadership includes Mark Jackaman as executive director of International, with responsibility for the Lloyd’s and Bermuda platforms, and Salvatore Sama as executive director for North America.
On the product side, QBE Re has named Jane Farren as executive director, global casualty; Shane Lawlor as executive director, global specialty; and Andy Richardson as executive director, global property.
QBE Re’s expansion in Asia also includes the recent appointment of Chie Yamamura to lead the company’s Japan desk, further demonstrating its commitment to building a strong regional presence.
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