Bermudian-based Everest Group Ltd has expanded its European operations with the launch of an insurance business in Italy.

The news comes following the receipt of regulatory approval to operate in the country, trading as Everest Insurance (Ireland) DAC, Succursale Italiana.

Headquartered in Milan, the operations are led by José Ramón Morales, head of Southern Europe, Everest Insurance International.

“Italy is among Europe’s largest economies, and a key market as we continue to scale throughout the continent,” said Véronique Brionne, senior vice-president, head of Europe, Everest Insurance International.

“We are bringing Everest’s value proposition, including dedicated local expertise, tailored risk solutions and best-in-class service, to meet the evolving needs of businesses in the region.”

Everest said its offerings will be across property, casualty, financial lines, energy and construction, accident and health, cyber, marine and aviation.

The launch in Italy follows Everest’s recent expansion into other key international markets, including Australia, Colombia and Mexico.

“As we deepen our European presence, Everest’s strength as a global powerhouse, combined with our localised expertise, best positions us to fill certain gaps that exist in the Italian market for bespoke solutions and enduring partnerships,” said Adam Clifford, co-lead of Everest Insurance International.

“I look forward to working with our exceptional local team to meet the distinct needs of Italian brokers and clients.”