Everest Insurance, the insurance division of Everest Re Group, Ltd has officially entered the Asian market after receiving regulatory approval from the Monetary Authority of Singapore to operate in Singapore.

The company trading as Everest Insurance Singapore, will be headquartered in Singapore. 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,” Mr Carey said.

“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.”

Mr Carey looked forward to growing their global footprint across Asia.

Everest’s Singapore office will provide customised 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,” Everest Insurance International co-lead Adam Clifford said.

“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.”