Everest Insurance, the insurance division of Everest Re Group, yesterday announced that it has officially entered the Asian market after receiving approval from the Monetary Authority of Singapore to operate in Singapore.
The entity, trading as Everest Insurance Singapore, will be headquartered in Singapore with Mr Ben Carey, senior vice president and regional head of insurance in Asia, leading operations and a team of seasoned underwriters.
“The insurance market in Asia is rapidly evolving and presents a significant opportunity to bring to this region the financial strength, underwriting discipline, and innovation Everest Insurance is known for delivering,” said Mr Carey.
“Our office in Singapore has an agile, collaborative culture that will enhance the reputation Everest has earned for its superior customer service and vast underwriting expertise. Backed by the power of Everest’s financial strength and expanding global network, we are well-positioned to provide clients and brokers with the solutions and local services they need, delivered with consistency and reliability. I look forward to growing our global footprint across Asia.”
Everest’s Singapore office will provide customised risk solutions in key sectors including commercial property, energy/power and construction, casualty, financial lines, accident and health
Mr Adam Clifford, co-lead of Everest Insurance International, said, “We have identified an opportunity in the marketplace in Asia and, as part of our Everest Insurance International expansion, we are poised to bring a credible market offering to Asia to help our clients and brokers.”
Everest Re Group (Everest) is a leading global provider of reinsurance and insurance, operating for close to 50 years through subsidiaries in the US, Europe, Singapore, Canada, Bermuda and other territories.
Everest Insurance Singapore trades and operates in Singapore through Everest International Reinsurance, Ltd. Singapore Branch. Everest International Reinsurance is incorporated in Bermuda.
Everest offers property, casualty, and specialty products through its various operating affiliates located in key markets around the world.