Bermuda-domiciled re/insurer Everest gains approval to underwrite Australian insurance from the country’s regulator.
Everest has announced it has launched its Australian Insurance operations after receiving approval from the Australian Prudential Regulation Authority.
The business will operate under the name Everest Insurance Australia, with offices in Sydney and Melbourne.
Christian Colombera, managing director, Australia and head of the Pacific region will lead the business alongside a team of regional underwriters.
“As we continue enhancing our global presence, we bring Everest’s customer-first model and decades of underwriting discipline and financial strength to address the unique and growing needs of the Australian market,” said Colombera.
“We have assembled a deeply experienced team with a keen understanding of local market dynamics and the challenges facing businesses demanding the capacity and expertise across a wide range of insurance needs that Everest will deliver,” he added.
Everest said it would focus on tailored risk solutions in property, casualty, financial lines, professional lines, and energy and construction sectors.
Scott Leney, head of Asia Pacific, Everest Insurance International, added: “Australia is a top-ten global insurance market ripe for Everest’s agile and entrepreneurial approach to risk.
“Australian clients and brokers need Everest’s financial support, top industry talent and broad suite of specialty products and capabilities.”
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