Everest Sells Colombia Insurance Unit To AIG
Everest Group has announced a definitive agreement to sell its Colombia insurance unit to American International Group [AIG].
A spokesperson said, “Everest Group, Ltd. [“Everest” or “the Company”] [NYSE: EG], a global specialty reinsurance and insurance leader, announced a definitive agreement to sell Everest Compañía de Seguros Generales Colombia S.A. to American International Group, Inc. [NYSE: AIG].
“The transaction builds on Everest’s previously announced sale of its global Commercial Retail Insurance renewal rights to AIG and the sale of its Canada Retail Insurance operations, marking another key step in the Company’s strategy to focus the portfolio on its core Global Reinsurance and Wholesale and Specialty Insurance businesses.”
“This agreement reflects our continued progress in executing our strategy and positioning Everest for sustained, long-term performance,” said Jim Williamson, President and Chief Executive Officer of Everest. “It pairs a high-quality business with an owner well positioned to support its next phase of growth, while enabling us to strengthen leadership in the markets and capabilities where we have the strongest competitive advantage. The Colombia team has built a respected franchise, and we are confident it will continue to build on that momentum under AIG’s ownership.”
The spokesperson said, “The transaction is expected to close in early 2027, subject to customary regulatory approvals and closing conditions. Advisors on the transaction include Guy Carpenter Capital & Advisory, a division of MMC Securities LLC, as financial advisor and Debevoise & Plimpton LLP as legal counsel to Everest.”
