Key Takeaways:
American International Group agreed to acquire 100% of Everest's Colombian insurance unit, expanding its commercial lines presence in one of Latin America's largest markets.
"This acquisition reinforces AIG’s commitment to our Latin America business and will enable us to accelerate our growth," Jon Hancock, CEO of General Insurance at AIG, said.
The deal includes Everest Compañía de Seguros Generales Colombia S.A.'s licensed operations, employees, and its existing portfolio of property and casualty lines. Financial terms were not disclosed, and the transaction is expected to close in early 2027 pending regulatory approval.
The acquisition continues a strategic realignment for both firms, with AIG expanding in the region while Everest pivots to focus on its core reinsurance and specialty insurance operations.
Everest Colombia's business focuses on corporate and upper-middle-market clients, writing policies for all-risks material damage, business interruption, general liability, and D&O coverage. This aligns with AIG's strategy to grow its commercial offerings for clients and brokers in Latin America. The sale is the latest step in Everest's strategy to streamline its operations. In October 2025, Everest sold the global renewal rights for its commercial retail insurance portfolio to AIG.
"This agreement reflects our continued progress in executing our strategy," Everest CEO Jim Williamson said, noting the deal pairs the Colombian business with an owner positioned to support its growth. Colombia's insurance market has seen steady growth, supported by economic expansion and infrastructure investment, yet insurance penetration remains low compared to mature markets, presenting an opportunity for growth.
The deal signals AIG's bullish outlook on the Colombian market, positioning it to capture more share in the growing commercial lines sector. Investors will watch for the deal's successful regulatory closure in early 2027 and its impact on AIG's Latin American premium growth.
This article is for informational purposes only and does not constitute investment advice.
