QBE Insurance Group has named Jonathan Groves (pictured) as CEO of its Australia Pacific division, closing a succession search that has been running since July and installing a risk specialist at the head of the group's strongest-performing underwriting business. QBE disclosed the appointment to the ASX.
Groves, currently CEO of QBE Pacific, takes the new role on November 1 2026. He will be based in Sydney, join the group executive committee and report to group CEO Andrew Horton.
He succeeds Sue Houghton, who QBE announced in July intends to retire at the end of 2026 after more than five years with the group and a financial services career spanning more than 35 years.
Groves has more than 30 years of experience across business leadership, underwriting, risk and regulation and has spent 13 of those years at QBE. His previous senior roles at the group include chief risk officer, Australia Pacific and chief risk officer, Equator Re, the group's captive reinsurer. The two prior postings are balance sheet and capital roles rather than distribution or portfolio ones, and Equator Re sits at the point where the group's retained risk is aggregated and ceded.
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Horton framed the appointment as continuity.
"Jonathan brings deep knowledge of QBE, our Australia Pacific business and the customers and partners we serve," Horton said. "He is well placed to build on the strong foundations of the business and continue delivering for customers, brokers, partners and shareholders. Australia Pacific is a strong business with a clear strategy and significant opportunities ahead. I look forward to working closely with Jonathan as we continue to build on the momentum underway across the division."
Groves said his appointment was a privilege.
"I am confident in the strength of this business, the expertise of our people and the value of the relationships we have with our customers, brokers and partners," he said. "I look forward to working with teams across Australia, New Zealand and the Pacific to build on the strong foundations already in place."
QBE said his leadership of QBE Pacific included initiatives focused on strengthening performance, accelerating growth momentum and supporting customer and broker outcomes.
The division he takes over carries QBE's strongest divisional combined operating ratio and, on 2025 figures, its weakest premium growth. Across the 2025 full year, ex-rate gross written premium (GWP) rose 11% in International and 4% in North America while Australia Pacific was flat. At the half-year result, Australia Pacific reported GWP as broadly stable on the prior corresponding period, with average premium rate increases in the low single digits and volumes softening across a number of commercial portfolios. The combined operating ratio rose to 88.2% from 86.8%, still the strongest of the group's three divisions, despite catastrophe activity including the January bushfire and east coast storm and flooding events.
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The division has also been reshaping how it reaches the market. QBE previously moved to distribute domestic householders' insurance through two specialist agencies rather than directly to brokers, underwriting the Castle Insurance portfolio in full and taking a 20% share of Sure Insurance's regional Queensland and Norfolk Island book.
Horton has previously told Insurance Business that consistency is the test of an underwriter's relationships when markets become more competitive and that insurers can appear less committed to broker partners and clients in those conditions. Groves arrives as the division enters exactly that phase.
