Everest Group has signed a definitive agreement to sell its Colombia insurance subsidiary, Everest Compañía de Seguros Generales Colombia S.A., to American International Group.
The transaction continues Everest’s broader portfolio optimisation strategy and follows its previously announced sale of global Commercial Retail Insurance renewal rights to AIG, as well as the divestment of its Canada Retail Insurance operations.
Everest said the move supports its focus on strengthening its core Global Reinsurance and Wholesale & Specialty Insurance businesses, where it sees the strongest long-term growth opportunities and competitive advantages.
The Colombia operation will transition to AIG ownership, with Everest noting that the business has established a strong local presence and is positioned for further development under its new parent.
The transaction is expected to close in early 2027, subject to customary regulatory approvals and closing conditions.
Jim Williamson, President and CEO of Everest, said the sale reflects continued execution of the company’s strategy to streamline operations and sharpen focus on priority markets and capabilities while positioning the Colombia business for its next growth phase under AIG ownership.
