The global underwriting firm Everest Group has officially announced the launch of an insurance business based in Australia. Everest Insurance Australia, said the firm’s media release, will operate from offices in Sydney and Melbourne.
The release from Bermuda this morning follows an Australian Prudential Regulation Authority (APRA) notification yesterday announcing the licensing of Everest International Reinsurance as a general insurer (GI).
“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 Christian Colombera (pictured above). Colombera is managing director, Australia and head of the Pacific Region and will lead the new business.
He said “a deeply experienced team with a keen understanding of local market dynamics” was assembled for the Australia operation.
The release referred to Everest aiming to fill “a crucial void for tailored risk solutions in the property, casualty, financial lines, professional lines, and energy and construction sectors.”
“Australian clients and brokers need Everest’s financial support, top industry talent and broad suite of specialty products and capabilities,” said Scott Leney, head of Asia Pacific, Everest Insurance International.
According to its website, Everest has customers in more than 115 countries across six continents.
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