AIG Announces Agreement to Acquire Everest's Insurance Operations in Colombia
American International Group, Inc. (NYSE:AIG) today announced it has entered into a definitive agreement to acquire Everest Compañía de Seguros Generales Colombia S.A. ("Everest Colombia"), Everest Group Ltd.'s (NYSE:EG) insurance subsidiary in Colombia. The acquisition of Everest Colombia strengthens AIG's presence in the Latin America region and supports the company's strategy to drive premium growth.
"This acquisition reinforces AIG's commitment to our Latin America business and will enable us to accelerate our growth in one of the largest and fastest-growing insurance markets in the region," said Jon Hancock, Executive Vice President and Chief Executive Officer, General Insurance, AIG. "With this acquisition, we are gaining a highly experienced team whose talent and deep understanding of the local market will strengthen our capabilities. Everest Colombia's focus on corporate and upper-middle-market clients aligns with AIG's commitment to expand our commercial insurance offerings to clients and brokers across the Latin America region."
Upon completion of the transaction, subsidiaries of AIG will acquire 100 percent of the equity of Everest Colombia, including its licensed operations, employees and ongoing insurance business. AIG and Everest will work closely to ensure a seamless transition for clients, brokers and colleagues.
The transaction is expected to close in early 2027, subject to regulatory approvals and other customary closing conditions.
Evercore acted as financial advisor and Willkie Farr & Gallagher LLP and Brigard & Urrutia Abogados acted as legal counsel for AIG.
About AIG
American International Group, Inc. (NYSE:AIG) is a leading global insurance organization. AIG provides insurance solutions that help businesses and individuals in more than 200 countries and jurisdictions protect their assets and manage risks through AIG operations, licenses and authorizations as well as network partners. For additional information, visit www.aig.com. This website with additional information about AIG has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release.
AIG is the marketing name for the worldwide operations of American International Group, Inc. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries and jurisdictions, and coverage is subject to underwriting requirements and actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.
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Andrew Johnson (AIG Media): andrew.r.johnson@aig.com
Quentin McMillan (AIG Investors): quentin.mcmillan@aig.com
