QBE names Carles Tondo Head of Property for Asia

QBE has appointed Carles Tondo as Head of Property for Asia, putting him in charge of the insurer's property portfolio across the region as risk concerns rise alongside development activity.

Based in Singapore, Tondo reports to Stephen Geisler, CEO of South Asia. He is responsible for property product strategy, pricing and portfolio management, and oversees regulatory and legal compliance for the line.

The appointment adds a dedicated senior property leader at QBE Asia as insurers face tighter scrutiny of underwriting discipline, exposure accumulation and climate-related risk. Property development and infrastructure spending remain active in several Asian markets, while natural catastrophe losses have sharpened focus on building standards and resilience planning.

Expanded remit

Tondo will lead the strategic and operational management of QBE Asia's property business. He is also accountable for regional performance across designated business lines and will work with teams and stakeholders across the region.

He will also focus on client relationships in Asia. The property line typically spans a broad range of cover for commercial and industrial risks, often intersecting with construction, engineering and specialty lines on large projects.

Tondo joins QBE with more than 17 years of insurance experience. His underwriting and leadership background spans Spain, Switzerland and Malaysia. Most recently, he was Head of Property and Technical Lines for Singapore at another insurer.

The move also formalises a handover within QBE Asia's regional structure. Tondo takes over the property portfolio from Brendan Dunlea, Regional Head of Construction and Engineering at QBE Asia. Dunlea continues to lead the Construction, Engineering, Renewables and Power Generation businesses.

Dunlea is also building a Resilience vertical within QBE Asia and continues to report to Ronak Shah, CEO of Wholesale Markets, Asia.

Regional context

Property underwriting in Asia has been shaped by a shifting loss environment, including severe convective storms, flooding and typhoons that can affect concentrated areas of insured value. At the same time, rising urban density and expanding industrial supply chains have pushed more assets into risk-prone locations.

Insurers have also faced higher reinsurance costs in recent renewal cycles, feeding into primary pricing in many markets. Buyers have responded by reassessing retentions, limits and risk-engineering priorities, particularly for complex industrial facilities and large real estate portfolios.

Against this backdrop, roles that combine pricing, portfolio management and product strategy have become more prominent. Insurers are placing greater emphasis on exposure analytics, aggregation control and clearer risk-selection guidelines. Many carriers have also increased their use of engineering assessments and building-level data in underwriting and renewal decisions.

Geisler said the appointment supports the company's plans for its regional property business.

"We are delighted to welcome Carles as our new Head of Property for Asia. I am confident that his extensive international exposure and leadership experience will be instrumental in helping QBE deliver exceptional value to our property clients, as they navigate increasingly complex risks," Geisler said.

He also linked the move to the division of responsibilities between property and construction-focused lines.

"Together with Brendan, Carles will drive significant momentum in the building and infrastructure resiliency spaces, which are key to our regional growth ambitions," Geisler said.

Tondo said he would focus on resilience priorities for clients, drawing on underwriting and market experience across regions.

"As the momentum of property development accelerates across Asia, it is now more important than ever that resiliency is at the forefront of our clients' priorities. I look forward to working alongside my colleagues to combine our technical underwriting expertise and global experiences to deliver bespoke solutions for our property clients fit for the future," Tondo said.

QBE Asia is part of the International Division of QBE Insurance Group, headquartered in Sydney and listed on the Australian Securities Exchange.