American International Group Inc. (AIG) has announced it has entered into a definitive agreement with Everest Group to acquire its Colombian insurance subsidiary, Everest Compañía de Seguros Generales Colombia S.A., commonly known as Everest Colombia. The transaction is expected to close in early 2027, with financial terms remaining undisclosed.

The acquisition represents a significant component of AIG's strategy to strengthen its presence in Latin America. Jon Hancock, CEO of AIG General Insurance, stated that this move will accelerate the company's growth in one of the largest and fastest-growing insurance markets in the region. He added, "The Everest Colombia team possesses deep local market expertise and a focus on corporate and middle-to-high-end market clients, which aligns closely with AIG's commitment to expanding its commercial insurance business in Latin America."

Upon completion of the deal, a subsidiary of AIG will acquire 100% ownership of Everest Colombia, including its authorized business, employees, and existing insurance contracts.

The sale marks a key step in Everest Group's execution of a global strategic pullback, aiming to sharpen its focus on its core global reinsurance and wholesale and specialty insurance operations. This follows Everest's sale of its global commercial retail insurance renewal rights to AIG in October 2025 and the signing of an agreement in March 2026 to divest its Canadian retail business. Everest CEO Jim Williamson noted that this transaction pairs a high-quality Colombian operation with a buyer positioned to support its next phase of growth.