Everest Insurance sets up branches in Paris and Düsseldorf
Everest Insurance®, the Insurance division of Everest Re Group, Ltd. announced its further expansion into the European market with official opening and regulatory approval to operate two new branches in Paris, France (Everest Insurance (Ireland), DAC France Branch) and Düsseldorf, Germany (Everest Insurance (Ireland) DAC, Niederlassung für Deutschland). Plans for a third European branch opening in Madrid, Spain is also underway for later this year.
“Our international expansion is driven by an intentional focus to continue to diversify our business and grow in a robust global market with tremendous need and potential,” said Mike Karmilowicz, President & CEO, Everest Insurance®. “While clients and brokers face challenging and new emerging risks, Everest Insurance® is bringing a new commitment to the European market. Backed by the full strength and capital of Everest, we are well-positioned to deliver our customer-first model to these key markets, providing clients with access to first-class industry talent and the customized risk solutions they need.”
“The newly established branches are led by Anne Charon, Head of France and Bernd Wiemann, Head of Germany. Each branch will deliver local expertise and customized risk solutions to their respective markets, directly addressing the region’s unique market dynamics. Everest’s Paris office will service key sectors including property, casualty, energy and construction, professional lines/indemnity, cyber, accident and health, credit and surety, and financial lines. Everest’s Düsseldorf office will service key sectors including commercial property, casualty, and financial lines of business.
“Our expansion into the European market is a significant opportunity to continue our commitment to delivering superior customer service, underwriting excellence, and a distinct suite of products and services that clients and brokers depend on from a partnership with Everest,” said Adam Clifford co-lead of Everest Insurance International®. “We look forward to collaborating with Anne and Bernd as we expand our value proposition further throughout continental Europe and globally.”
Jason Keen, co-lead of Everest Insurance International® added, “Europe is a breeding ground for the industry’s top talent, and Anne and Bernd have each assembled an exceptional team of professionals. I am confident in their ability to deliver the value, local market expertise and experience deserving of our clients and brokers in each of these key regions.”
The European expansion of Everest’s primary insurance operations follows its recent entrance into the Latin American and Asia Pacific markets and continues the advancement of its international expansion strategy.
Barclays signs lease for new office at 52 Avenue Hoche Paris
Barclays has signed an off-plan lease for a new, larger office space in Paris. The agreement, for a 12-year period, will see the bank move its French headquarters to 52 Avenue Hoche in the 8th arrondissement. The building is owned by an institutional investor advised by J.P. Morgan Global Alternatives, and will be fully renovated with Barclays expected to take possession of the space in 2024.
The agreement underlines Barclays commitment to France, with the decision to move to a larger site positioning the bank for further growth in the country. 52 Hoche will also incorporate a new state of the art trading floor, supporting the bank’s Markets activity in Paris, as well as providing an improved working environment for Barclays’ Investment Banking, Corporate Banking and Private Bank teams.
52 Hoche is a 11,500 sq.m complex, in an iconic location close to the Arc de Triomphe and less than 100 metres from Barclays’ current location on Avenue de Friedland. The redesign will aim to optimise the workspace with improving employee wellbeing at the core of the project. The building will offer a range of services including a gym, restaurant, meeting hub, auditorium and garden spaces.
Francesco Ceccato, CEO, Barclays Europe, said: “This is a significant moment for Barclays in France. Signing this lease demonstrates the ambition we have to accelerate our growth in Paris. We’ve secured a site that will provide our colleagues with additional space and cutting edge facilities, while retaining our presence in the heart of the city. I look forward to welcoming our Paris-based colleagues, our clients and other stakeholders to 52 Hoche.”