QBE has wooed another British executive to take the top job at the Sydney-based insurance giant, offering Andrew Horton a buyout package of potentially more than $4 million ship out.
Horton was revealed on Wednesday evening as QBE’s new chief executive. He will relocate to Sydney and start from September he has been CEO at British specialist insurer Beazley for 13 years.
It comes after predecessor Patrick Regan, himself a former British executive at Aviva, had to resign from QBE last year after sending an inappropriate message to another employee.
QBE said Beazley manages five Lloyd’s insurance syndicates that last year underwrote $US3.56 billion (about $4.5 billion) in gross premiums, covering areas from professional indemnity to political risks.
QBE chairman Mike Wilkins said Horton, who has a degree in natural sciences from the University of Cambridge, had a deep understanding of the insurance sector and was an “inclusive and collaborative executive, who places a strong focus on risk, culture and relationships”.
“He is known for driving positive change and high performance and has built a well-respected business over a number of years,” Wilkins said.