AIG Agrees to Acquire Everest Chile, Completes Purchase of Everest Colombia

American International Group (AIG) announced it has entered into a definitive agreement to acquire Everest Group Ltd.’s insurance subsidiary in Chile. AIG also announced the completion of its previously announced acquisition of Everest Compañía de Seguros Generales Colombia S.A. (Everest Colombia). Together, the transactions will further strengthen AIG’s decades-long presence in Latin America and support the company’s long-term growth across one of the world’s fastest-developing insurance markets, AIG said. Everest Group said the latest agreement represents the final planned divestiture of its Latin American insurance operations as part of its strategic exit from commercial retail insurance. Everest Chile (known formally as Everest Compañía de Seguros Generales Chile S.A.), serves corporate and upper-middle-market clients, with a portfolio that includes property, energy, marine, financial lines and casualty insurance. Upon completion of the transaction, subsidiaries of AIG will acquire Everest Chile’s licensed operations, employees and ongoing insurance business. “Our acquisition of Everest Chile represents another important step in expanding our commercial insurance capabilities for clients and brokers across Latin America, building on our acquisition of Everest’s Colombia business,” said Jon Hancock, executive vice president and chief executive officer, General Insurance, AIG, in a statement. “As the fourth- and fifth- largest corporate insurance markets in Latin America, respectively, Colombia and Chile present strong opportunities as investment in infrastructure, energy, logistics and manufacturing continues to grow, driving demand for more commercial insurance solutions,” Hancock added. “We look forward to welcoming the talented Everest Chile and Colombia teams to AIG and building on their established relationships as we help solve complex risk challenges for our clients and partners in the market,” he said. Jim Williamson, president and chief executive officer of Everest, commented: “These milestones mark meaningful progress in building a stronger, more focused organization centered on the businesses where we see the greatest opportunity to deliver long-term value,” said . “We have been deliberate in aligning our operations with our strategic priorities, and these transactions bring us closer to completing that work. I am grateful to our colleagues in Latin America for their dedication and contributions to Everest.” The Chile transaction is expected to close in the first half of 2027, subject to regulatory approvals and other customary closing conditions. AIG and Everest said they will work closely to support a smooth transition for colleagues, clients and broker partners. Source: AIG and Everest Topics Mergers & Acquisitions AIG