AIG has agreed to acquire Everest Group’s insurance subsidiary in Chile and has completed its purchase of Everest Colombia, the companies announced. The deals will add Everest’s Chilean and Colombian operations—including licences, staff and ongoing business—to AIG’s portfolio, which targets corporate and upper-middle-market clients in areas such as property, energy, marine and financial lines.
Everest said this agreement is the final step in its planned withdrawal from commercial retail insurance in Latin America. The company has focused on aligning its business with areas where it sees the most long-term value. AIG, meanwhile, said the acquisitions will strengthen its presence in Latin America, where Colombia and Chile are the fourth- and fifth-largest corporate insurance markets.
The Chile transaction is expected to close in the first half of 2027, pending regulatory approvals. Both companies said they will work together to ensure a smooth transition for staff, clients and brokers. For insurers and brokers, the deal signals ongoing consolidation and growth in Latin America’s commercial insurance market.
