US-listed Everest Group has launched in Australia, offering commercial insurance products from its Sydney and Melbourne offices.

As reported yesterday, the business was granted a general insurance licence by the Australian Prudential Regulation Authority. It will operate under the name Everest Insurance Australia.

The group says it will help fill the “void” for tailored risk solutions in property, casualty, financial lines, professional lines, and the energy and construction sectors, bringing the “speed and agility” required in the current insurance landscape.

“Australia is a top 10 global insurance market ripe for Everest’s agile and entrepreneurial approach to risk,” head of Asia-Pacific Scott Leney said. “Australian clients and brokers need Everest’s financial support, top industry talent and broad suite of specialty products and capabilities.”

Christian Colombera, MD Australia and head of the Pacific region, will lead the business alongside a team of regional underwriters.

“As we continue enhancing our global presence, we bring Everest’s customer-first model and decades of underwriting discipline and financial strength to address the unique and growing needs of the Australian market,” he said. “We have assembled a deeply experienced team with a keen understanding of local market dynamics and the challenges facing businesses demanding the capacity and expertise across a wide range of insurance needs that Everest will deliver.”

Everest Group is a general and specialty reinsurance underwriter with operations in more than 115 countries. Its other Asia-Pacific office is in Singapore.