Everest Insurance (Ireland) designated activity company (EIID), a subsidiary of Everest Re Group, is set to open a branch office in the UK aimed at expanding its global operational capabilities.
In 2017, the insurance firm formed its Dublin-based non-life insurance subsidiary to operate across the European Union (EU) under a single regulatory framework after the UK departs from the EU.
The UK branch for Everest Insurance has been granted permission to write general insurance classes. These include goods in transit, fire and natural forces, damage to property, credit, general liability, suretyship and also miscellaneous financial loss.
Everest Insurance (Ireland) CEO Linda Ryan said: “After a successful launch in Dublin, we are looking forward to expanding to the United Kingdom.
“We are confident that our innovative products, flexibility and knowledgeable underwriters will be a great asset to our new United Kingdom clients.”
Everest Insurance International CEO Vincent Vandendael said: “This is an important step as Everest continues to expand our international capabilities.
“The United Kingdom is a strategic choice and a logical location for our next branch. We’re intent to prove ourselves a valuable asset to the UK insurance community.”
Everest has been operating as a reinsurer in Ireland since 2009.
Everest Re Group offers reinsurance and insurance services including property, casualty, and specialty products through subsidiaries in the US, Europe, Bermuda and other territories.