The Bank of New York says Everest Re Group has chosen the bank to supply it with global custody and trust services. Everest Re provides personal and commercial property and casualty insurance.
“After a thorough evaluation process, we selected The Bank of New York as our global custodian,” explains Stephen J. Limauro, executive vice president and CFO of Everest Re. “We require flexible reporting capabilities,
the Bank’s Internet-based information delivery platform, INFORM, will be able to meet our needs. We also look forward to working with the Bank’s team of dedicated insurance specialists.”
“We are pleased that our suite of custody services is the appropriate solution for Everest Re,” adds Robert R. Field, executive vice president at The Bank of New York. “Our goal is to help our insurance clients gain a competitive advantage in the marketplace. Our team of insurance experts is provided with the needed resources to develop innovative information delivery options and integrated services that meet the changing needs of our clients.”
The Bank of New York’s Global Insurance Division provides a number of insurance companies with custody, cash management, investment risk management, foreign exchange, securities lending, trustee services, and fixed income and equity trade execution.