Key insights
- American International Group (AIG) has agreed to acquire Everest Group's (EG) Chilean insurance subsidiary and has completed the acquisition of its Colombian counterpart. These moves expand AIG's commercial insurance presence in Latin America. The Chile transaction is expected to close in the first half of 2027. Financial terms were not disclosed.
NEW YORK - American International Group Inc. (NYSE:AIG) announced Thursday it has entered into a definitive agreement to acquire Everest Compañía de Seguros Generales Chile S.A., the Chilean insurance subsidiary of Everest Group Ltd. (NYSE:EG). The company also completed its previously announced acquisition of Everest Compañía de Seguros Generales Colombia S.A.
The transactions expand AIG’s presence in Latin America’s commercial insurance market, according to a press release statement.
Everest Chile serves corporate and upper-middle-market clients with a portfolio including property, energy, marine, financial lines and casualty insurance. AIG subsidiaries will acquire Everest Chile’s licensed operations, employees and ongoing insurance business upon completion of the transaction.
"Our acquisition of Everest Chile represents another important step in expanding our commercial insurance capabilities for clients and brokers across Latin America," said Jon Hancock, Executive Vice President and Chief Executive Officer of General Insurance at AIG.
The Chile transaction is expected to close in the first half of 2027, subject to regulatory approvals and customary closing conditions. The Colombia acquisition has been completed.
Willkie Farr & Gallagher LLP and Carey y Cía. Ltda. acted as legal counsel for AIG on the Chile agreement. Evercore served as financial advisor and Willkie Farr & Gallagher LLP and Brigard Urrutia acted as legal counsel on the Colombia transaction.
Financial terms of the transactions were not disclosed.
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