Singapore - June 23, 2022 – Everest Insurance®, the Insurance division of Everest Re Group, Ltd. (“Everest”) (NYSE: RE) today announced that it has officially entered the Asian market after receiving regulatory approval from the Monetary Authority of Singapore to operate in Singapore (trading as Everest Insurance Singapore®). The entity will be headquartered in Singapore and Senior Vice President and Regional Head of Insurance in Asia Ben Carey will lead 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 service they need, delivered with consistency and reliability. I look forward to growing our global footprint across Asia.”
Everest’s Singapore office will provide customized risk solutions in key sectors including commercial property, energy/power and construction, casualty, financial lines, accident and health.
“As part of our international growth strategy, we are excited to bring the underwriting expertise and a set of core P&C Product offerings to this region,” said Adam Clifford, co-lead of 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.”
Jason Keen, co-lead of Everest Insurance International® also added, “Ben has hired an outstanding team of professionals to establish our presence in Singapore, and under his leadership, I am confident in our ability to become a preferred market leader in Asia and around the globe. We look forward to continuing to deliver value and market expertise to our current and future clients.”
About Everest Re Group, Ltd.
Everest Re Group, Ltd. (“Everest”) is a leading global provider of reinsurance and insurance, operating for close to 50 years through subsidiaries in the U.S., 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, Ltd. is incorporated in Bermuda.
Everest offers property, casualty, and specialty products through its various operating affiliates located in key markets around the world.
Everest common stock (NYSE:RE) is a component of the S&P 500 index.
Additional information about Everest, our people, and our products can be found on our website at www.everestre.com