Everest Insurance, a unit of Everest Re Group, has secured regulatory nod to commence operations in Spain.
The Spanish business, trading as Everest Insurance (Ireland) DAC, Sucursal en España, is headquartered in Madrid, with an office launching in Barcelona.
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It will provide an array of customisable insurance products and risk solutions.
The offerings will target industries such as property, casualty, medical malpractice, financial lines, energy and construction, accident and health, and cyber.
Everest Global Markets CEO Vincent Vandendael said: “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 Spanish market.
“As we continue to expand our European footprint, I look forward to working closely with José Ramón and his team of highly skilled, agile underwriters to address the unique needs of this market.”
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By GlobalDataJosé Ramón Morales will lead Everest Insurance’s Spanish operations.
Everest is also expanding its staff of experienced underwriters under Morales’ supervision to meet the changing demands of the Spanish market and support the business’s future expansion.
Morales said: “The Spanish market is quite sophisticated with a wide range of market exposures that require niche solutions Everest is well positioned to deliver.
“We are entering Spain with a depth and breadth of innovative product offerings along with a high calibre of underwriters with a deep understanding of the local market’s needs, empowered to provide superior service to our clients and brokers.”
The announcement follows Everest’s launch of branches in France and Germany as well as its entry into Latin America and Asia Pacific.
