Everest Insurance, the insurance division of Everest Re Group, has entered the Asian market following regulatory approval from the Monetary Authority of Singapore.
Everest Re Group is a global provider of reinsurance and insurance, operating for nearly 50 years through subsidiaries in the US, Europe, Singapore, Canada, Bermuda, and other regions.
Everest’s Singapore office will be led by senior vice president and regional head of insurance in Asia Ben Carey, supported by a team of underwriters.
The office will provide customised risk solutions in key sectors, including commercial property, energy/power and construction, casualty, financial lines, accident and health.
Carey said, “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.
“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 service they need, delivered with consistency and reliability. I look forward to growing our global footprint across Asia.”
Everest is not the only insurer to recognise the potential in Asia. Singapore-based InsurTech startup anycover recently raised $450,000 in a pre-seed funding round led by Powerhouse Ventures.
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