Everest Reinsurance, a subsidiary of Bermuda-based Everest Re Group, has acquired Premiere Underwriting Services, a Canada-based managing general agent specializing in entertainment, sports and leisure related risks.
Following this acquisition, Premiere will operate as an affiliate of Everest Insurance Company of Canada.
In addition, Everest Insurance Company of Canada has entered into an agreement with Toronoto-based Executive Risk Insurance Services, to purchase the renewal rights and operations of its financial lines business, which underwrites Directors and Officers Liability, Fidelity and Errors and Omissions Liability, among others
Everest Insurance Company of Canada is federally registered and licensed to write property, automobile, surety, liability and other classes of insurance on a primary basis.
Everest National Insurance CEO Mark Herman said these purchases continue the efforts to expand and diversify the insurance platform into short tail, specialty lines. Both firms bring solid management teams with excellent reputations in their respective fields.