NU Online News Service, April 8, 12:02 p.m. EDT
Sidney, Australia-based QBE Insurance Group Limited announced that John Rumpler, currently group general manager for credit and surety, will assume the post of chief executive officer of its Americas Division in June.
Mr. Rumpler, who will be based in New York, has been at QBE since 1997 and has led the development of the credit, surety and lenders mortgage insurance business, the firm said.
Initially focused in Australia, QBE said its credit surety mortgage business has grown to operations in 13 countries and more than AU$550 million (U.S. $390 million) in gross written premium.
QBE said under Mr. Rumpler's management, the Americas Division will continue a strategy of growth and focused diversification.
The business comprises four distinct operating units: QBE Regional, QBE Reinsurance and QBE Specialty in the United States, and QBE Latin America in Argentina, Brazil, Colombia and Mexico.
The Americas Division 2008 net income was $236 million on its $3.7 billion in gross written premium, which increased more than 22 percent from 2007.
Mr. Rumpler succeeds QBE Chief Operating Officer Vince McLenaghan, who also served as acting president and chief executive officer of the Americas Division since June 2008.
The company said Mr. McLenaghan will continue as chief operating officer for QBE's global operations.
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