Sydney-based QBE Insurance announced the appointment of Mark Lingafelter as its Asia-Pacific managing director yesterday.
He is responsible for developing the region into a growth engine for QBE group. At present it manages around $1 billion of assets in Asia ex-Australia and New Zealand.
Lingafelter will oversee underwriting, distribution and management of all QBE operations across the region. He was previously MD and Australia CEO for Chubb Insurance Company, where he spent 30 years with the company in roles in Hong Kong and Singapore.
Prior to that he was CEO of Federal, Hong Kong, and country manager for Federal, Singapore – both part of the Chubb Group. He had also served as an underwriting manager with Chubb in Asia and the US.
Lingafelter's arrival comes soon after the appointment of Mark Walker as the new Hong Kong chief executive at QBE, effective from July 21 this year.
Headquartered in Sydney, QBE operates out of 38 countries and territories around the globe, with 10 offices in Asia Pacific including in Singapore, Malaysia and Thailand.
As of last year there were about 60 investment staff across Sydney, London, New York and Buenos Aires, with staff from the four locales managing assets globally under one global remit.
The biggest part of the portfolio in Asia was in Australian dollars, followed by New Zealand dollars, Hong Kong dollars, Singaporean dollars and Malaysian ringgit.
Chubb named Matthew Doquile as its new chief executive for Australia to replace Lingafelter, effective from July 1.
In this capacity, he is accountable for the ongoing execution of the QBE Asia Pacific Profitable Growth Strategy and the continued development of the Asia Pacific region into a growth engine for the QBE Group.
Mark brings with him a wealth of experience in product, underwriting and distribution. He also has a proven track record of growing businesses profitably in Asia and Australia as well as success in implementing strategic change initiatives.
Prior to joining QBE, Mark from Chubb Insurance, where he worked for more than three decades, holding various senior positions in Australia, Hong Kong and Singapore. In his most recent role with Chubb, Mark was the Managing Director and CEO of the firm’s Australian operation, a position he held for 10 years.