Everest Insurance, the insurance division of global underwriter Everest Re Group, has expanded into the Spanish market.
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 Insurance’s entry into the Spanish market follows the regulatory approval from the relevant authorities to operate in Spain (trading as Everest Insurance (Ireland) DAC, Sucursal en España).
The Spain branch is headquartered in Madrid, with another office opening in Barcelona, and operations are led by José Ramón Morales, head of Spain.
Everest’s Madrid and Barcelona offices will provide a bespoke range of insurance products and risk solutions for key sectors including property, casualty, medical malpractice, financial lines, energy and construction, accident and health, and cyber.
Under the leadership of José Ramón Morales, Everest continues to build out its team of seasoned underwriters to best serve the evolving needs of the Spanish market and support the company’s continued growth.
Morales, said, “The Spanish market is quite sophisticated with a wide range of market exposures that require niche solutions Everest is well positioned to deliver.
The announcement comes on the heels of Everest’s primary insurance operations openings in France and Germany as well as its entrance into the Latin American and Asia Pacific markets.
“We are entering Spain with a depth and breadth of innovative product offerings along with a high caliber of underwriters with a deep understanding of the local market’s needs, empowered to provide superior service to our clients and brokers.”
Vincent Vandendael, CEO of Everest Global Markets, added, “Building on 50 years of financial strength, our deep expertise, speed to market, and customer-first approach enables us to bring our world-class services and additional capacity to the Spanish market.”
In November 2022, Everest Re underwent a rebrand following its expansion in Europe.
The rebrand, which includes a new logo and visual identity, reflects its positioning and commitment to “underwrite opportunity for colleagues, customers, shareholders, and communities worldwide,” the company said.
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