QBE hires Munich Re executive to lead international outward reinsurance

QBE has appointed Alistair Nappin (pictured) as head of outward reinsurance for its international division, drawing a senior hire from Munich Re's global specialty insurance business.

Nappin joins from Munich Re, where he served in two senior roles. He was head of ceded reinsurance and chief underwriting officer of underwriting strategy for the global specialty insurance division. He brings close to 20 years of insurance experience to the appointment.

He will be based in London and report to Stephanie Cryer, chief underwriting officer for QBE International. His remit will cover the development and delivery of QBE's reinsurance buying strategy across the UK, Europe, and Asia. The appointment is subject to regulatory approval, with Nappin expected to join in early 2027.

QBE International launched a primary insurance operation in Bermuda in March 2026, targeting large corporate property and excess casualty risks. The insurer described the launch as the first phase of a broader buildout of its Bermudian capabilities.

Outward reinsurance strategy gains weight across wider footprint

The Nappin appointment follows a period in which QBE has been actively managing its outward reinsurance costs. QBE reported in February that its reinsurance expenses fell from US$4,226 million in 2023 to US$3,971 million in 2024. The reduction reflected both market softening and active programme management.

The configuration of outward protection has become a more active underwriting decision across the London and international markets. Carriers are weighing quota share cessions, non-proportional structures, and retentions as reinsurance pricing softens and loss exposure grows across multiple lines.

Nappin's background spans both ceded reinsurance programme management and underwriting strategy. That background gives him experience on both sides of risk transfer, suited to a role spanning risk management and capital efficiency.

Cryer said the appointment aligns with the division's reinsurance priorities. "I am delighted to welcome Alistair to QBE. His deep experience and expertise will be a tremendous asset to our team, and I look forward to the contribution he will make to our continued success," Cryer said.

QBE International has been expanding its senior team across geographies. The Nappin hire follows recent hires at QBE Re in MENA and Southeast Asia, part of a broader build-out across the group.