QIC replaces Antares CEO in series of measures to remediate book

QIC Global, the international specialty re/insurance subsidiary of Qatar Insurance Group, has revamped the leadership of its Lloyd's platform Antares, as part of a "series of measures taken" to remediate its book and position it for strategic and profitable expansion.

The company has appointed Alexander Craggs as acting CEO of Antares, replacing Joe Battle who has left the company. Battle assumed the role from Stephen Redmond in February 2019.

Craggs has over 25 years’ experience in the insurance industry and has been active underwriter of Antares Syndicate 1274 since May 2019. He first joined Antares in 2010 as class underwriter for property treaty and agriculture and was also, between 2017 and 2019, head of reinsurance at the syndicate.

In addition to appointing Jim Lye as acting active underwriter at Antares Syndicate 1274, QIC Global has also formed a QIC Global CUO office, composed of Craggs, Pantelis Koulovasilopoulos, CEO of QIC Europe, Luke Roden, chief underwriting officer of Qatar Re, and Jim Lye, to coordinate Antares and Qatar Re Group underwriting plans.

Lye was previously head of terrorism and energy at Antares. He first joined the business in 2012 as an energy underwriter, having been an underwriting and claims manager at Infrassure from February 2010.

Craggs will report to Michael van der Straaten, CEO at QIC Global and Lye will report to Craggs.

van der Straaten said: “QIC Global’s new executive committee is ready to take advantage of the improving market environment. Following a series of measures taken to remediate our book, we are now well positioned to strategically and profitably expand the business. The QIC Global CUO office will have a key role in coordinating that expansion and I am pleased to announce its formation today.

“Alexander and Jim are outstanding, talented individuals who will drive this next phase in Antares’ development. We would all like to warmly congratulate them on their appointments.”