Singapore Business Review profiled the recent opening of the Everest Insurance Singapore® office and featured how Everest prioritizes its people and purpose, and the value that we’re bringing to the Asia market.
As Singapore’s strong economy continues to drive business growth, the Asia insurance market is rapidly evolving in an effort to keep up but is facing significant disruptions. Marked by divestments, shifts in personnel, a reduction in authority on the ground, re-underwriting of underperforming portfolios, and a dearth of customer service provisions, the Asia insurance market is in need of a new partner – one that is financially strong and full of highly skilled and respected professionals with localized expertise who make exceptional service central to everything they do.
Everest senior leaders and members of the Singapore team celebrate the grand opening of the Everest Insurance Singapore® office.
Answering the call
In response to this market demand, Everest, the global underwriting leader who has been providing best-in-class property, casualty, and specialty reinsurance solutions to the Asia market for two decades, recently opened its doors with a primary insurance offering: Everest Insurance Singapore®. Commemorating the grand opening of its Singapore office, Everest Insurance Singapore® held a celebration at the Monti At 1-Pavilion where they received a resounding welcome from local brokers, clients, business partners and industry leaders.
Everest President and CEO Juan C. Andrade (L) and Ben Carey, Regional Head of Everest Insurance® in Asia (R) delivering welcome remarks during the celebration.
The event was hosted by Everest President and CEO Juan C. Andrade, Ben Carey, Regional Head of Everest Insurance® in Asia, along with other senior Everest Insurance® leaders. They addressed attendees underscoring the company’s commitment to the market, customer-first approach and its unique ability to provide the tailored insurance solutions needed across key sectors including financial lines, casualty, property, energy and construction, accident and health and cyber.
“Opening our Singapore office enables us to provide the financial strength, superior underwriting discipline, and innovation that we at Everest Insurance® are known for and that the market is in dire need of,” said Ben Carey, Everest Insurance® Regional Head of Insurance in Asia. “I look forward to working closely with our local brokers and partners here in Singapore and throughout Asia to deliver the operational and underwriting excellence that this important market deserves.”
Prioritizing people and purpose
Given the strong network of business leaders at Everest’s event, it’s evident that Everest Insurance Singapore® prioritizes deep, trusted relationships. And despite being a new entrant, Everest has quite an advantage as they’re able to build upon the rich foundation of relationships that were developed by their Everest Reinsurance colleagues, who have been known and respected in this market for the past 20 years.
(L to R) Brokers from the Marsh Specialty, Asia team Benjamin Chang, Tan SooMei, Tan HuiLeng, and Wong Yoon Chien. Members of the Everest Insurance Singapore® team Alethea Seow and See Chen Yeh and Adam Clifford Head of Everest Insurance International® at the grand opening celebration.
To keep up with market demand, Everest Insurance Singapore® is expanding its team with Singapore’s best-in-class talent who all have a deep understanding of the unique needs of the Asia market. United by a purpose to protect its customers and underwrite opportunities, Everest is attracting top talent and has already grown the Everest Insurance Singapore® team to nearly two dozen strong and counting.
“Everest is home to a collaborative team of problem-solvers. With the right people in the right places, combined with the backing of our global network of professionals across the risk spectrum, I’m confident in our ability to deliver the agility, speed, and tailored solutions required to address the unmet needs of the Asia market,” Carey said.
Everest Insurance Singapore® celebrates its grand opening along with local brokers and partners at the Monti At 1-Pavilion.
Everest Insurance Singapore® trades and operates in Singapore through Everest International Reinsurance, Ltd. Singapore Branch. Everest International Reinsurance, Ltd. is incorporated in Bermuda. It is regulated by the Monetary Authority of Singapore.
To learn more about Everest Insurance Singapore® and its commitment to operational excellence and underwriting opportunity, check out the breadth of products and services offered by visiting their website: Everest Insurance Singapore®.
This originally ran in Singapore Business Review with the title: Everest Insurance Singapore® brings customized solutions and underwriting excellence to the Asia market to meet market demand.