QBE Insurance Group Limited has revealed that Yasmin Allen AM will succeed Mike Wilkins AO as the chair of its group board, effective 8 May 2026. This transition will take place as Wilkins, the current chair, prepares to retire at the company’s annual general meeting (AGM) in May 2026.
Leadership Change in 2026
Allen joined the QBE board as an independent non-executive director in July 2022. She has extensive experience across various sectors, including insurance, energy, healthcare, and technology. Allen currently serves as a non-executive director at Santos Limited and is chair of the Digital Skills Organisation. Her previous board roles include positions at Insurance Australia Group (IAG) and Macquarie Global Infrastructure Funds.
Commenting on her forthcoming role, Allen said: “It is a privilege to be elected to chair the board of QBE, an organisation with such a rich history and a strong global presence. I look forward to working closely with my fellow directors and the executive team to continue delivering on QBE’s strategic priorities.”
Wilkins, who has been with the QBE board since 2016 and served as chair since 2020, will retire following the AGM in May 2026. He expressed full confidence in Allen’s leadership abilities: “Yasmin brings exceptional business credentials, extensive board experience, and a deep understanding of governance and stakeholder engagement. I am confident in her ability to lead QBE into its next chapter.”
Wilkins’ Tenure and Board Composition
Wilkins brings over 30 years of experience in financial services. Prior to joining QBE, he was managing director and CEO at IAG, Promina Group Limited, and Tyndall Australia Limited. He is currently chair of Medibank Private Limited and a board member at Scentre Group Limited. His previous directorships have included AMP Limited, Alinta Limited, Maple-Brown Abbott Limited, The Geneva Association, and the Australian Business and Community Network. Wilkins was instrumental in the founding of the Australian Business Roundtable for Disaster Resilience & Safer Communities.
Other members of QBE’s current board include group CEO Andrew Horton, Steve Ferguson, Penny James, Tan Le, Kathryn (Kathy) Lisson, Neil Maidment, and Peter Wilson.
Financial Results and Market Context
The announcement of Allen’s appointment follows the release of QBE’s most recent financial results for the first half of 2025 (H1 2025). The insurer reported a net profit of US$1.02 billion, marking a 27% increase compared to the same period last year. Net insurance revenue stood at US$8.81 billion, and gross written premium (GWP) reached US$13.8 billion, reflecting a 6% increase.
QBE’s combined operating ratio was 92.8%. In the Australia Pacific division, which includes Australia and New Zealand, GWP decreased by 1% to US$2,583 million. However, the combined operating ratio for this division improved to 86.8%, compared to 95.6% in the previous year.
QBE also reported investment income of US$788 million for the half-year, representing a 2.4% return, and declared dividends of US31 cents per share.
This version has been expanded and adapted to British English conventions, providing a more detailed summary of the leadership transition and financial context.