Following the grand opening of our Everest Insurance Singapore® office, Ben Carey, Regional Head of Insurance in Asia, discusses our commitment to building a mission-driven insurance offering in Singapore with the tailored solutions, localized market expertise and superior service needed in the market.
The state of play in Asia
The insurance market in Asia is rapidly evolving. It presents a significant opportunity to bring the financial strength, underwriting discipline, and innovation that Everest Insurance® is known for globally to this market.
We are seeing significant disruption across the entire Asia market. It’s marked by divestments, shifts in personnel, a reduction in authority on the ground, re-underwriting of underperforming portfolios, and a dearth of customer service provision.
The market is calling out for a new partner that is financially strong with an ambitious growth plan, full of highly skilled and respected professionals who see service as central to everything they do.
Answering the call
Everest Insurance®, is here to provide this important market precisely what it needs. In fact, we’ve been told that the timing of our entry is perfect. We’re thrilled to be able to offer the customized solutions, localized market expertise, and superior service that the Singapore market deserves.
Insurance is a people business and having deep, trusted relationships is especially imperative in the Asia market, which is why we’re continuing to build out a team of Singapore’s best-in-class talent. While we may be “the new insurance kid on the block” we’re leveraging a rich foundation built by our Everest Reinsurance colleagues – one that is known and respected for the past 20 years. In addition, we will continue to strengthen the existing relationships we have built as insurers.
Everest is a collaborative team of problem-solvers. By having the right people in the right places, backed by a global network of professionals across the risk spectrum, we’re agile, make decisions faster and deliver innovative solutions, which best positions us to underwrite both risks and opportunities for our customers.
United by our purpose and the potential
United by a mission to protect our customers, we embrace the power of purpose. And the commitment to building a mission-driven insurance offering here in Singapore is what’s attracting top talent to join our team. We’re all inspired by the opportunity to deliver for our clients, shape our culture, and be an integral part of growing our business from the onset.
I was colleague number one in our Everest Insurance Singapore® office and now I’m pleased to say that our team is 22 people strong and counting. We recently celebrated the grand opening of our Singapore office with clients and brokers and it was so inspiring to hear about the difference we’re already making in the market. Building on our current breadth of products and services including property, financial lines, casualty, accident and health, energy and construction and cyber, we have plans to continue to expand our offerings to include credit and political risk and marine in the new year.
As 2022 comes to a close, I’m proud of the powerful momentum that Everest Insurance® has already established here in the Asia market. The potential is enormous, and we are only just scratching the surface. We have a lot more to offer our clients and distribution partners and as we enter the new year, we look forward to demonstrating how we can continue to best service this important market. We are grateful for the trust and support shown to us by our current customers and distribution partners and we look forward to what the future holds.
The content of this article is intended for informational purposes only. The views and opinions expressed in this article are solely those of the individual author and do not reflect the views of Everest Re Group, Ltd. (“Everest”), and its affiliated companies. Additional information about Everest, our people, and our products can be found on our website at https://www.everestglobal.com/.