Everest Re looks to Europe

Bermudian reinsurer Everest Re has confirmed it will launch operations in Zurich.

A spokesperson for the company said that the reinsurer has received approval from the Central Bank of Ireland to establish a subsidiary of its Ireland-based company in Zurich. It is currently waiting on approval from the Swiss authorities.

“We expect to launch operations in the first quarter of 2015 with the new Zurich Branch running alongside Everest’s Brussels office operation for the time being, as it builds its presence ,” said the spokesperson.

John Hyland, who is currently regional head of Nordics, France, Benelux, Spain and Portugal, will relocate to Zurich and will head an initial team of around six people.