Everest Insurance International is expanding in the Australian market, offering tailored solutions across a range of commercial lines including property, casualty and financial risks.

The US-headquartered insurer has been “very strategic about its growth” since launching in Australia in May, and head of Asia-Pacific Scott Leney says brokers are central to its strategy.

“We exclusively deal through brokers,” he said. “They are our channel to our clients, and through the quality of people we have hired and the networks we have here, we have access to all the major brokers that look after corporate clients in the industry segments we operate in.”

Broking partners have been receptive to Everest’s offerings and its underwriting attitude, he says.

“The feedback from brokers is that we stand out in terms of our ability to provide multiline solutions to clients.”

Mr Leney spoke with insuranceNEWS.com.au from Everest’s Sydney office, alongside Australia MD and Pacific region head Christian Colombera.

Mr Colombera says Everest has enjoyed targeted growth in the past couple of months.

“We’re looking to bring a broad suite of products to the market. We can provide those broad capabilities … including financial lines, specialty and property, which are really core lines for Everest.”

The insurer is part of New York-listed Everest Group, which has identified Australia as a key Pacific market. It is among several insurers eyeing a share of the nation’s growing demand for commercial risk protection.

“It may not be the same size as the US market, but it’s a large general insurance market,” Mr Colombera said. “It’s a sophisticated market as well.”

He says as part of Everest’s commitment to Australia, it has invested in claims expertise and set up an internal claims team.

“If you think about the type of clients that we’re looking to work with, having an in-house claims proposition is critical,” Mr Colombera said. “This, coupled with our world-class team of experienced underwriters and service focus, really sets us apart in the market.”

Mr Leney says a change in commercial market conditions has worked in Everest’s favour.

“I think our timing helped in coming into the market here,” he said. “After a tough few years for clients, with many coverage restrictions in certain areas, not being able to buy the amount of capacity they ideally would want … also with premiums increasing … we feel like there is a demand for our capacity and also for the quality of service delivered through excellent people.”