Everest Insurance, the insurance division of Everest Re Group, has announced its expansion into the Spanish market.
The Spain branch is headquartered in Madrid, with another office opening in Barcelona.
José Ramón Morales will lead the operations as Head of Spain.
Everest suggests that its Spanish offices will provide a bespoke range of insurance products and risk solutions for key sectors including property, casualty, medical malpractice, financial lines, energy and construction, accident and health, and cyber.
Morales commented, “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.”
Vincent Vandendael, CEO of Everest Global Markets, added, “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.”
The announcement follows Everest’s primary insurance operations openings in France and Germany as well as its entrance into the Latin American and Asia Pacific markets.
Everest Insurance also recently appointed Timothy Powell as Head of Financial Lines, succeeding Christian Colombera, who will assume the role of Managing Director of Australia & Head of the Pacific Region.