Everest International Reinsurance’s Singapore Branch (EIS) has named MGA RedRay as its exclusive underwriting agent for Medical Malpractice Liability Insurance as well as associated coverages in Asia.
The move follows regulatory approval, positioning RedRay as EIS’ first healthcare MGA in the region.
RedRay MGA will serve medical and allied health practitioner organisations such as acute hospitals, teaching hospitals, clinics and surgeries, aged care, assisted living and other specialty facilities.
Healthcare clients can get customised commercial insurance packages, which could result in savings on their overall insurance costs.
The company claims the region is set for healthcare changes due to shifting demographics, technological innovations and limited infrastructure.
It noted that the ageing population, doctor-patient ratios, infrastructure upgrades and digital disruptions are prompting increased healthcare investments by many Asian governments.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataEverest regional head of Insurance Asia Tomi Latva-Kiskola said: “Our partnership with RedRay stems from our strategic alignment to target and grow in the fast-expanding healthcare sector. RedRay’s deep understanding of the unique exposures and expertise in this sector make it an ideal partner to expand our capabilities in Asia.”
RedRay CEO Christopher Rummery stated: “We are delighted and humbled by our appointment to be EIS’ exclusive healthcare MGA. Building capacity with partners in rapidly growing sectors of the marketplace lies at the heart of our business. We complement insurance companies like EIS, which have growth ambitions in specialty lines of business, as they can quickly and efficiently tap into our entrepreneurial mindset, robust products and geographical expertise.”
Earlier this month, the Everest Group named Jim Williamson as acting CEO.
This appointment follows the departure of Juan C Andrade, who has left his role as president and CEO to assume a new position at financial services company USAA, starting on 2 April.
Everest specialises in property, casualty and specialty reinsurance and insurance solutions.
