Everest Group, Ltd. (NYSE: EG), a global specialty reinsurance and insurance leader, today announced that it has entered into a definitive agreement to sell Everest Compañía de Seguros Generales Chile S.A. to American International Group, Inc. (NYSE: AIG). The agreement represents the final planned divestiture of Everest’s Latin American insurance operations as part of its strategic exit from commercial retail insurance.
Everest also announced the completion of its previously disclosed sale of its Colombia insurance business, Everest Compañía de Seguros Generales Colombia S.A., to AIG.
“These milestones mark meaningful progress in building a stronger, more focused organization centered on the businesses where we see the greatest opportunity to deliver long-term value,” said Everest CEO Jim Williamson.
“We have been deliberate in aligning our operations with our strategic priorities, and these transactions bring us closer to completing that work. I am grateful to our colleagues in Latin America for their dedication and contributions to Everest.”
The sale of the Chile insurance business is expected to close in the first half of 2027, subject to customary regulatory approvals and closing conditions.
AG ballooned $9.85, or 2.5%, to $410.44, while shares for AIG advanced 14 cents to $81.58.
