Everest Re, the Bermudian-based reinsurance division of Everest Group Ltd, has expanded its Asia-Pacific footprint with the launch of a new office in India’s Gujarat International Finance Tec-City.

The move follows regulatory approval from the International Financial Services Centres Authority.

The new branch will operate as part of Everest’s Asia-Pacific Re business under the leadership of Kevin Bogardus, head of reinsurance, Asia and Pacific.

“Everest’s launch in India presents significant opportunity, as one of the most dynamic reinsurance markets globally, shaped by strong economic growth and rising demand for the advanced, long-term reinsurance solutions we offer,” said Jill Beggs, executive vice-president and chief executive, reinsurance. “We look forward to bringing our underwriting expertise, capital strength and client-first culture to deliver long-term value to clients across Asia and globally.”

Mr Bogardus added: “Everest has built strong relationships with many of India’s leading insurers over the years.

“Establishing a branch in Gift City positions Everest to expand its partnerships with both local and multinational insurers, delivering tailored solutions to meet the evolving needs of this market.”

The company said the office reflects its long-term strategy to diversify geographically, deepen local client engagement and expand offerings across property, casualty and speciality reinsurance lines.