Everest Insurance To Open Singapore Office
SINGAPORE – Insurance giant Everest Re Group’s main division, Everest Insurance, is poised to open a headquarters in Singapore after obtaining approval from the country’s central bank to operate here, reported Reinsurance News on Saturday (25 June, SGT).
Everest Insurance’s Singapore headquarters will be helmed by Senior Vice President and Regional Head of Insurance in Asia Ben Carey and will house a team of underwriters.
With regulatory approval from the Monetary Authority of Singapore (MAS), Everest Insurance’s Singapore office will provide bespoke risk solutions in industries, such as commercial real estate (CRE), construction, energy/power, casualty, financial lines, health and accident.
“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 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,” he noted.
Carey added that Everest Insurance is well-positioned to offer clients and brokers with the solutions and local service they require, as Everest Re Group is well-funded and has an expanding global network.
“As part of our international growth strategy, we are excited to bring the underwriting expertise and a set of core property and casualty insurance (P&C) to this region,” added Adam Clifford, Co-lead at Everest Insurance International.
“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.”
In May 2022, Everest Insurance revealed that it had also made a foray into Latin American after obtaining government approval to set up a new office in Chile.