QBE group chief executive John Neal steps down after five years
Former Aviva chief financial officer Pat Regan will take over as chief executive at Australian insurance group QBE on 1 January next year, replacing John Neal.
Neal is stepping down after five years as QBE group chief executive. Neal replaced long-standing chief executive Frank O’Halloran in August 2012.
Regan, currently chief executive of QBE’s Australia and New Zealand operations, joined QBE as chief financial officer from Aviva in 2014.
Regan was thought to be in the running for the top job at Aviva following the departure of then chief executive Andrew Moss in May 2012. The role eventually went to Mark Wilson.
QBE chairman Marty Becker said: “On behalf of the board, I would like to sincerely thank John Neal for his dedication and leadership of QBE over the last five years.
“John has led the business through a significant transformation and a challenging period in the insurance industry globally and has been working closely with the board to ensure a smooth transition for his succession.”
On Regan’s appointment, he added: “In the last 12 months Pat has led a strong turnaround in the Australian & New Zealand operations, highlighting his operational skills and business acumen and, in his previous role as group chief financial officer, had been pivotal in stabilising the balance sheet and enhancing the Group’s capital management.”