Everest expands financial lines division

Hamilton, Bermuda-based Everest Re Group Ltd. said Monday it has formed a private company/nonprofit business segment within Everest Insurance’s specialty underwriters unit that will target small, medium and large private and nonprofit corporations on a primary and excess basis.

The unit is headed by New York-based Salvatore Collura, who has been named the segment’s vice president and national practice leader and will be involved in expanding the business across the country, Everest Re said in a statement.

Mr. Collura was most recently a vice president in Chubb Ltd.’s financial lines division, where he was responsible for managing and overseeing the underwriting operations of the insurer’s New York regional private and not-for-profit group, according to the statement.

Everest Re said the new business segment will complement all areas of Everest’s expanding financial lines division.