WARREN, New Jersey – April 11, 2022 – Everest Insurance®, the insurance division of Everest Re Group, Ltd., today announced the launch of Middle Market Property, a new commercial property insurance product designed to serve the unique and unmet needs of middle market customers.
This launch will position Everest to meet the growing middle market demand for tailored risk management programs that match the size and scale of their operations. It is the latest in a series of strategic steps that deepen Everest’s segment expertise with distinct, specialized products and services.
“Middle market companies are responsible for approximately one-third of private sector GDP in the United States and deserve better than a ‘one size fits all’ approach,” said Erik Nikodem, Global Head of Property for Everest Insurance®. “Everest’s new Middle Market Property product fills a void for midsized companies and delivers the simplified experience and direct relationship they need in today’s complex environment. Our bespoke, single-carrier coverage solutions give clients in industries like healthcare, education and technology more certainty and resilience to help them grow.”
As part of the company’s strategic investment in the Middle Market, Everest also announced that Ross Kerr will lead as Head of Middle Market Property, reporting directly to Erik Nikodem. Ross will focus on building upon the organization’s deep domain expertise and further simplifying the experience to meet the nuanced, evolving needs of midsized companies. Ross joined Everest’s Property team in December 2021 after spending 12 years in commercial property insurance at Arch Insurance Group, Swiss Re, Berkshire Hathaway and RT Specialty, and is uniquely suited to bring the necessary innovation and collaboration needed to meet the evolving needs of middle market customers.
Everest’s new Middle Market Property product will be written on the flexible Everest Pinnacle™ Property form, enabling U.S. clients across real estate, healthcare, technology, manufacturing, hospitality and financial services among others, to place their entire property coverage with a single carrier and offers coverage of up to $350 million in capacity provided by Everest. To learn more about Everest Insurance® Middle Market Property product click here.
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 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.
Everest Insurance® markets property, casualty, specialty and other lines of admitted and non admitted direct insurance on behalf of Everest Re Group, Ltd and its affiliated companies. This product will be offered where permitted by Everest Indemnity Insurance Company (EIIC), an unlicensed or non-admitted insurance company in California, New York, and other jurisdictions which does not solicit business in those jurisdictions. Additional information about Everest, our people, and our products can be found on our website at www.everestre.com.