Everest announces introduction of Mexico operations

Insurance provider Everest Group has received regulatory approval to operate in Mexico, establishing headquarters in Mexico City to be led by Jaime Chaves Lopez (pictured).

Everest announced the expansion of its international insurance network on Thursday, appointing Lopez after receiving approval from the country’s national security and finance commission.

The new entity is trading as Compania de Seguros Generales Everest Mexico, expanding the company’s Latin American operations.

In a statement, Chaves said the “rapidly evolving” insurance market in Mexico presented a “significant opportunity” for Everest and other companies in need of its offerings across commercial and specialty property, casualty, marine, and financial lines.

Chaves has over 25 years of experience, having previously worked for companies like Chubb, Odyssey Reinsurance Latin America and the Caribbean, Swiss Re Mexico, and Swiss Re Colombia.

“Mexico’s growing economy and geographical location make it a key emerging market in the global financial landscape, and one Everest is well-positioned to serve,” said Pablo Korze, the company’s senior vice president and regional president for Latin America.

Everest is excited to bring its underwriting expertise and a set of core property and casualty product offerings to the region, Korze said.

Adam Clifford, Everest Insurance International’s co-lead, also commented on the announcement, saying the company has an “outstanding” team of professionals in Mexico.

He also noted that under Chaves’ leadership, Clifford is confident in the company’s ability to become a “preferred market leader” in Mexico and the rest of the world.