Global insurance leader American International Group, Inc. (NYSE: AIG) has announced a definitive agreement to acquire Everest Compañía de Seguros Generales Chile S.A. (“Everest Chile”) from Everest Group Ltd. (NYSE: EG). Concurrently, AIG confirmed the final closing of its acquisition of Everest Compañía de Seguros Generales Colombia S.A. (“Everest Colombia”).
The dual transaction significantly solidifies AIG’s long-standing commercial insurance presence across Latin America, specifically targeting high-growth sectors such as infrastructure, energy, logistics, and manufacturing in Chile and Colombia—the fourth and fifth largest corporate insurance markets in the region, respectively.
Key Deal Structure & Strategic Highlights:
- Target Operations: Under the Chile agreement, AIG subsidiaries will acquire Everest Chile’s licensed operations, employees, and ongoing business, which spans property, energy, marine, financial lines, and casualty insurance for corporate and upper-middle-market clients.
- Transaction Timeline: The acquisition of Everest Chile is expected to close in the first half of 2027, subject to regulatory approvals and customary closing conditions, while the Everest Colombia deal is now fully completed.
- Advisors Involved: Evercore served as financial advisor to AIG on the Everest Colombia transaction. Legal counsel for AIG was led by Willkie Farr & Gallagher LLP, supported by Carey y Cía. Ltda. in Chile and Brigard Urrutia in Colombia.
“Our acquisition of Everest Chile represents another important step in expanding our commercial insurance capabilities for clients and brokers across Latin America, building on our acquisition of Everest’s Colombia business,” said Jon Hancock, Executive Vice President and Chief Executive Officer, General Insurance at AIG. “Colombia and Chile present strong opportunities as investment in infrastructure, energy, logistics and manufacturing continues to grow. We look forward to welcoming the talented Everest Chile and Colombia teams to AIG.”
