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Everest Re Group expands further into Canadian market


February 11, 2011   by Canadian Underwriter


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Everest Re Group has boosted its Canadian presence, acquiring Premiere Underwriting Services and some operations of Executive Risk Insurance Services Ltd.
Premiere Underwriting Services is a Toronto-based managing general agent specializing in entertainment, sports and leisure related risks. Moving forward, Premiere will operate as an affiliate of Everest Insurance Company of Canada.
Everest Insurance Company of Canada has also entered into an agreement with Executive Risk Insurance Services Ltd. of Toronto. Everest will purchase the renewal rights and operations of the financial lines business of Executive Risk, which underwrites directors and officers’ liability, fidelity and errors and omissions liability, among others.
“These purchases continue our efforts to expand and diversify our insurance platform into short tail, specialty lines,” said Mark Herman, CEO of Everest National Insurance, in a release. “Both firms bring solid management teams with excellent reputations in their respective fields.”
Everest Insurance Company of Canada is federally regulated and licenced to write property, automobile, surety, liability and other classes of insurance on a primary basis.


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