Two big US insurers agree a deal as Everest has agreed to sell its Colombia insurance business to AIG, in another step in its shift towards global reinsurance, wholesale and specialty insurance
Everest Group says it has signed a definitive agreement to sell Everest Compañía de Seguros Generales Colombia to AIG.
The transaction follows Everest’s previously announced sale of its global commercial retail insurance renewal rights to AIG and the sale of its Canada retail insurance operations.
Everest said the sale marks another step in its strategy to focus its portfolio on its core global reinsurance and wholesale and specialty insurance businesses.
Jim Williamson, president and CEO of Everest, said: “This agreement reflects our continued progress in executing our strategy and positioning Everest for sustained, long-term performance.
“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,” Williamson added.
The transaction is expected to close in early 2027, subject to customary regulatory approvals and closing conditions.
Guy Carpenter Capital and Advisory, a division of MMC Securities, served as financial advisor to Everest, while Debevoise and Plimpton acted as legal counsel.
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