American International Group on Tuesday said it has agreed to acquire Everest Compañía de Seguros Generales Colombia S.A., or Everest Colombia, from Everest Group.
Terms of the transaction were not disclosed.
AIG will acquire 100% of the equity of Everest Colombia, including its licensed operations, employees and ongoing insurance business, the insurer said in a statement.
The transaction is expected to close in early 2027, subject to regulatory approvals and other customary closing conditions.
The deal comes on the heels of AIG’s purchase of Everest Group’s retail renewal rights last October.
The acquisition reinforces AIG’s commitment to its Latin America business and will enable it to accelerate growth in one of the largest and fastest-growing insurance markets in the region, Jon Hancock, executive vice president and CEO, General Insurance, AIG, said in the statement.
Everest Colombia’s focus is on corporate and upper-middle-market clients, he added.
Evercore acted as financial adviser and Willkie Farr & Gallagher and Brigard & Urrutia Abogados acted as legal counsel for AIG, according to the statement.
