Everest: positioned for growth in the APAC market

Kevin Bogardus, chief executive of Everest Reinsurance Company, Singapore Branch, recently shared his perspective on the region’s reinsurance market as we approach 2025 and 1.1 renewals.

What’s your approach heading into the upcoming renewals?

As we approach renewals, we are laser focused on working collaboratively with our key clients to best support their evolving needs. We are disciplined in our underwriting and how we deploy capacity across markets and lines of business, prioritising our key partners.

We see a new baseline in this elevated risk environment. Expected risk-adjusted returns should remain favourable at 1 January and throughout 2025 as market demand increases, while attachment points, terms and conditions are expected to remain stable.

However, regardless of market dynamics, Everest’s approach remains the same. We maintain the high level of transparency and communication we have with our clients and brokers throughout the year. Our clients tell us that our consistency and collaboration make us a stabilising force in the market.

What positions Everest for growth in the Asia Pacific (APAC) market?

Everest is deeply invested in the APAC market, which is ripe for our breadth of products and quality of service.

In addition to deepening our industry-specific vertical offerings, we are also enhancing our local talent and expertise, evidenced by our recent leadership appointment in our Asia Pacific accident and health business. We are also continuing to invest in our Global Specialties capabilities, offering access to our deep expertise across aviation, marine, cyber, engineering and parametric solutions, to complement our talented and empowered underwriting team in Singapore.

Our “One Everest” approach, grounded in collaboration across business lines and borders with the highest level of responsiveness, positions us to continue building long-term, growth-oriented partnerships in APAC. Our goal is to continue to lead on high-quality programs, providing key partners with world-class service. As a leading reinsurer with a strong capital base, balance sheet, financial ratings and a dedicated local team, we combine the vast resources and expertise of a global leader with the creativity, agility and personalised service the market deserves.

What growth opportunities do you see for the region in 2025?

APAC is a vast and diverse region, offering a wide range of opportunities.

Demand is strong for reinsurance solutions in property as well as other lines. Capacity is available, but not all markets are created equal. As we evaluate the strongest growth opportunities, we take an individualised approach to each country and client, constantly evolving our offerings according to their needs.

While property is a key focus area, with demand growing in critical markets such as Japan, Australia and China, as we look ahead to 2025, we are also pursuing opportunities in lines such as engineering, accident and health, credit and surety, and structured solutions.

Overall, for 2025 we anticipate that the market will remain disciplined with favourable trading conditions, particularly in property and specialty lines, and we look forward to meeting the APAC market demand with quality capacity for their complex global risks.