Introduction to Everest Global’s Mexican Expansion
One year after formally entering the Mexican market, Everest Global has solidified its international expansion strategy by positioning itself as a significant player in the high-value corporate insurance segment. With a presence in over 12 countries, Everest Global sees Mexico as a crucial hub for its growth in Latin America.
Why Mexico?
Juan Delgado, Regional President of Everest Insurance Latam, highlighted Mexico’s economic importance in the region: “Mexico is Latin America’s second-largest economy after Brazil, and it’s a very stable country with numerous growth opportunities. We saw an excellent opportunity to establish a flag within our insurance group.”
Everest Global’s International Expansion Strategy
In the past two years, Everest Global has opened operations in twelve countries. Mexico is considered a top priority within this growing economy.
Everest Global Mexico operates under the international insurance division of Everest, in direct coordination with its US headquarters and the international insurance operations center based in London.
“This structure allows us to offer global coverage and experience, with a technical focus tailored to local risks. Our strategy aligns with the highest group standards while maintaining a deep understanding of the Mexican market,” explained Jaime Chaves, Everest Insurance.
Customized Offerings for Large Corporations
Unlike many insurers that cater to various market segments, Everest Global focuses on a more specialized approach. They primarily target large corporate accounts:
“We’re almost niche. We focus mainly on large corporate accounts. Our focus isn’t exclusive, but it’s primarily on the top 1,000 companies in the Mexican economy,” they explained.
Everest Global distinguishes itself by providing highly customized solutions based on each client’s specific risks:
“We stand out because we attend to large accounts with a boutique approach. This enables us to create precise and closely aligned solutions for our clients’ real needs.”
Prioritizing Coverage for an Exposed Market
Regarding market demand, Everest Global identifies property insurance (Property) as the most sought-after product in Mexico, largely due to the country’s high catastrophic exposure.
“In Latin America and most developing countries, Property is the most demanded product. In more mature markets, they focus on civil liability, but in Mexico, there’s a clear need for protection against catastrophes,” added Jaime Chaves.
Message to Mexican Businesses
To companies unfamiliar with Everest Global, the insurer conveys a clear message: stability, experience, and commitment.
“We have over 50 years of experience in the insurance industry and have been publicly traded for the past 30 years, providing significant financial stability. Every person we’ve hired in Mexico has a deep understanding of the local market, ensuring close and expert support for each client.”
Comprehensive Support and Catastrophe Management
Beyond technical backing, Everest Global emphasizes its comprehensive support capabilities, from risk assessment and policy placement to efficient claims management.
“We are prepared with robust teams at every stage: analysis, issuance, and if a claim occurs, we have operational, technical, and financial presence from the start.”
Everest Global’s Future in the Mexican Insurance Market
With a focused proposal and international vision, Everest Global aims to become a new benchmark in the Mexican insurance market.
For more information about Everest Global and its offerings in Mexico, visit: https://www.everestglobal.com/mx-es/our-offer/products-and-services/insurance
Key Questions and Answers
- Why did Everest Global enter the Mexican market? Mexico’s significant economic importance in Latin America and its growth opportunities made it a crucial hub for Everest Global’s international expansion.
- What sets Everest Global apart from other insurers? Everest Global focuses on large corporate accounts and provides highly customized, boutique-style solutions tailored to each client’s specific risks.
- What is the most demanded insurance product in Mexico? Property insurance (Property) is the most sought-after product due to Mexico’s high catastrophic exposure.
- What message does Everest Global convey to Mexican businesses? The insurer emphasizes its stability, experience, and deep understanding of the Mexican market to provide close and expert support for each client.
- What kind of support does Everest Global offer? Everest Global offers comprehensive support, including risk assessment, policy placement, and efficient claims management.
