Bermudian-based Everest Group has expanded its global footprint with the establishment of an entity in Bogotá, Colombia by its subsidiary, Everest Insurance International.

Everest Compañía de Seguros Generales Colombia SA launched following regulatory approval from the Superintendencia Financiera de Colombia.

The company said the launch in Colombia is a significant step in its strategic expansion throughout Latin America, following its recent opening in Mexico.

Everest said Mauricio Ocampo Gómez, country manager, will lead a dedicated team committed to delivering exceptional service and tailored solutions to meet the diverse needs of corporations across the region.

“We enter Colombia with a depth and breadth of innovative product offerings, and high-calibre underwriters with a deep understanding of the local market’s needs, empowered to provide superior service to our clients and brokers,” said Mr Ocampo Gómez.

Everest said its Bogotá office will provide a bespoke range of insurance products and risk solutions for key sectors including property, casualty, energy and financial lines.

“Colombia presents an exciting growth opportunity for Everest Insurance International. We are bringing a new commitment to the Latin American market to address the challenges and emerging risks facing the market,” said Pablo Korze, senior vice-president and regional president, Latin America.

Adam Clifford, co-lead of Everest Insurance International, 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 Colombian market.

“As we continue to expand our global footprint, I look forward to working closely with Mauricio and his team of highly skilled, agile underwriters to address the unique needs of brokers and clients.”