American International Group has agreed to acquire Everest Compañía de Seguros Generales Colombia S.A. (Everest Colombia), in a deal that will expand its Latin American footprint and deepen its commercial insurance presence in one of the region’s key growth markets.
Under the definitive agreement, AIG subsidiaries will acquire 100% of the equity of Everest Colombia, including its licensed operations, employees, and ongoing insurance business.
AIG and Everest plan to work together to ensure a smooth transition for clients, brokers, and staff.
The transaction is expected to close in early 2027, subject to regulatory approvals and customary closing conditions. Financial terms have not been disclosed.
Evercore is acting as financial advisor to AIG, with Willkie Farr & Gallagher LLP and Brigard & Urrutia Abogados serving as legal counsel. Everest’s advisors include Guy Carpenter Capital & Advisory and Debevoise & Plimpton.
Everest Colombia currently writes a range of property and casualty lines, including all-risks material damage and business interruption, earthquake, general liability, professional indemnity, and directors and officers (D&O) cover, distributed primarily through intermediaries.
Jon Hancock, executive vice president and CEO, General Insurance at AIG, said the acquisition "reinforces AIG's commitment to our Latin America business" and will help accelerate growth “in one of the largest and fastest-growing insurance markets in the region.” He added Everest Colombia’s focus on corporate and upper-middle-market clients aligns with AIG’s aim to expand its commercial offerings for clients and brokers across Latin America.
The deal is the latest step in a broader realignment between the two groups.
In October 2025, Everest sold the global renewal rights to its commercial retail insurance portfolio to AIG, covering business in the US, UK, Europe, and Asia-Pacific. AIG subsequently received regulatory approvals to assume Everest’s renewal books in several major European markets in time for the January 1, 2026, renewals.
Everest has described these moves as part of a strategic pivot away from commercial retail insurance to focus on reinsurance and specialty lines where it sees stronger competitive advantage. The sale of Everest Colombia continues that shift, transferring a local general insurance platform – with licenses, a team, and established broker relationships – to a buyer looking to grow in the region.
Colombia has been one of the more dynamic insurance markets in Latin America in recent years, supported by economic growth, infrastructure investment, and efforts to deepen insurance penetration. Market data show total premiums in the Colombian sector have continued to rise, while claims volumes underscore the industry’s expanding role in protecting households and businesses.
Even so, penetration remains relatively low compared with more mature markets, which local industry leaders have highlighted as an opportunity, particularly in property, motor, and commercial lines.
At a regional level, the deal underscores continued interest from global carriers in building scalable operations in Latin America, even as some groups streamline elsewhere.
