Qubit Underwriting, a Hong Kong-based managing general agent (MGA), on Tuesday (18 June) announced the expansion of its specialty risk portfolio with the addition of global marine and energy reinsurance to its offerings.
To lead this effort, the company concurrently announced the appointment of Long Xu as Executive Vice President and Chief Underwriting Officer (CUO), Reinsurance. Xu will head Qubit’s Reinsurance Division, starting from July 2024.
Qubit currently provides specialty insurance solutions for niche and emerging risks, including digital assets. “The launch of our marine and energy reinsurance offering further demonstrates our nimble approach to accessing and bringing diverse risk capital to the market,” said Helen Ye, CEO of Qubit.
Xu brings over three decades of experience in the insurance and reinsurance sectors. He began his career in 1992 with Marine Office of America (MOAC) of CNA as a marine and energy claims adjuster. He later spent 15 years at Everest Re in the US as Vice President, specialising in marine and energy reinsurance underwriting.
Before joining Qubit, Xu was Chief Underwriter Officer and General Manager of the International Business Department at China P&C Re, where he built a portfolio worth over US$400m, Qubit said.
“We are thrilled to welcome Long Xu to the Qubit team,” Ye said. “His expertise and industry leadership is an invaluable asset to Qubit as we continue to expand our specialty risk portfolio.”
Xu expressed enthusiasm about his new role. “I am excited to join Qubit and contribute to the company’s continued growth and success,” he said, adding, “Qubit’s focus on underwriting, coupled with its use of advanced technology and data analytics, uniquely positions the company to provide innovative solutions addressing the complex risks.”
