American International Group announced that it has entered into a definitive agreement to acquire Everest Compañía de Seguros Generales Colombia S.A., Everest Group Ltd.’s insurance subsidiary in Colombia. The acquisition is designed to strengthen AIG’s presence in Latin America and support the company’s strategy to drive premium growth in the region.
Under the terms of the transaction, subsidiaries of AIG will acquire 100% of the equity of Everest Colombia, including its licensed operations, employees, and ongoing insurance business. The deal will expand AIG’s commercial insurance capabilities in Colombia, one of the largest and fastest-growing insurance markets in Latin America.
AIG said Everest Colombia’s focus on corporate and upper-middle-market clients aligns with its strategy to broaden commercial insurance offerings for clients and brokers throughout the region. The company also noted that the acquisition brings an experienced local team with deep market expertise.
The transaction is expected to close in early 2027, subject to regulatory approvals and customary closing conditions. Evercore served as financial advisor to AIG, while Willkie Farr & Gallagher LLP and Brigard & Urrutia Abogados acted as legal counsel.
AIG is a global insurance organization providing insurance solutions for businesses and individuals in more than 200 countries and jurisdictions.
KEY QUOTES:
“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. 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.”
Jon Hancock, Executive Vice President and Chief Executive Officer, General Insurance, AIG
