- QBE Insurance Group (QBE) has appointed Richard Pryce as interim CEO while a search for a permanent replacement is underway
- Richard will be replacing previous CEO Pat Regan who left the company in September following an external investigation
- Richard joined QBE in 2012 and was appointed CEO of European Operations in 2013 before being appointed CEO International in 2019
- QBE will continue to update the market as the search progresses
- Company shares are up a slight 1.31 per cent, currently trading for $8.92 each
QBE Insurance Group (QBE) has appointed Richard Pryce as interim CEO while a search for a permanent replacement is underway.
The company’s previous CEO Pat Regan left the company in September following an external investigation.
While exact details weren’t provided, QBE claimed that workplace communications did not meet the standards set out in the Group Code of Ethics and Conduct.
Now that Richard has been appointed interim CEO, Mike Wilkins will return to his role as Non-Executive Chairman.
Richard joined QBE in 2012 and was appointed CEO of European Operations in 2013 before being appointed CEO International in 2019.
He has also worked with the likes of insurance companies such as Lloyd’s in London, Syndicate 204 and ACE Global Markets.
“I would like to thank Richard for accepting this interim role as we conduct an extensive search for a permanent replacement. Richard is well known to employees and investors and is well-respected in the insurance industry,” Mike said.
“Richard will continue to champion many of the initiatives we have underway across the Group to build QBE for the future and is focused on maintaining the rigour for our cell reviews and further embedding and enhancing our Brilliant Basics initiatives,” he added.
QBE will continue to update the market as the search progresses.
Company shares are up a slight 1.31 per cent, trading for $8.92 each at 2:05 pm AEDT.