Australian insurance group QBE is planning to set up a branch in the Netherlands in a bid to expand its European operations.
Subject to regulatory approval, QBE will start writing business at the Netherlands branch from January 2023.
Initially, QBE will offer core commercial liability, financial lines and property coverage for mid-market and corporate clients.
The new branch will also have a multi-national offering, which is said to provide cover for more than 180 nations.
The insurance firm has begun hiring to fill several roles across underwriting, claims, operations, and finance at the Dutch branch.
It is looking for underwriting manager, claims manager, market manager and head of roles for property/liability/financial lines/construction and several underwriting roles.
QBE Europe strategy executive Sebastiaan Lambalk is leading the establishment of the new operation, which will be an NBB-regulated entity QBE Europe SA/NV.
Lambalk is also supervising the creation of a local team.
QBE managing director – insurance Cécile Fresneau said: “We have been steadily building our offering in Continental Europe, providing a credible alternative to established markets. We have the financial backing of a global enterprise but retain the agility of a smaller operation.
“This enables us to offer a flexible approach and new solutions to the market and has underpinned our success so far in Europe. We see great potential in the Dutch insurance market and are excited to get started.”
QBE, whose gross written premium for 2021 was $18.8bn is listed on the Australian Securities Exchange.