Everest Re is expanding its insurance platform with the launch of a new credit and political risk business unit under Everest Specialty Underwriters, and has hired Jim Thomas to  it.

Thomas joins from Zurich, where he headed the global credit and political risk business. Before that, he held various roles at Euromoney in London, and at the United Nations Economic Commission for Latin America and the Caribbean in Chile.

“Credit and political risk is a natural extension of our current product portfolio and Jim is recognised as an industry authority in these areas. Jim’s experience and expertise in this market, coupled with Everest’s financial strength and global footprint, will allow us to meet the needs of our customers and brokers,” says Mike Kamilowicz, head of Everest Specialty Underwriters.

“I’m excited about the opportunity to build a new business with large limits, long tenors and a full array of credit and political risk capabilities backed by the financial strength of Everest. We’ve already hired some very experienced credit and political risk underwriters in the US and we’ll be continuing to build our team in North America over the coming months, and then we plan to launch offices in other key markets, including London and Singapore,” Thomas tells GTR.

Everest Insurance will provide credit and political risk coverage for banks, corporations, exporters, contractors and infrastructure developers.