QBE has announced the appointment of a new regional chief underwriting officer today, with the latest addition to join the firm from rival IAG.

Phuong Ly, formerly the executive general manager of business distribution for IAG, is set to join QBE in February – taking on the role of chief underwriting officer for the Australia Pacific region.

Ly, who has previously worked as acting chief underwriter for CGU, will be based in Sydney and will report directly to QBE CEO Vivek Bhatia.

Commenting on the announcement, Bhatia said he is “very much looking forward” to welcoming Phuong to QBE team.

“His extensive industry experience is complemented by a strong focus on customer centricity and an entrepreneurial drive,” said Bhatia.

“Phuong is very well respected in the Australian insurance market and is passionate about creating a culture where teams can thrive.”

Ly also commented on his appointment and said he was “very pleased’ to be joining QBE at an “exciting time” in the company’s growth.

“I look forward to being a part of that growth and contributing to its future success,” he said.