AIG’s headquarters lobby in New York. Company photo: AIG.
NEW YORK – American International Group said Friday, October 30, that it agreed to buy Everest Group’s insurance business in Chile and completed its previously announced acquisition of Everest’s insurance operation in Colombia.
The Chile transaction is expected to close in the first half of 2027, subject to regulatory approvals and other customary closing conditions. The companies did not disclose financial terms in their announcements.
Everest Chile serves corporate and upper-middle-market customers, offering property, energy, marine, financial lines and casualty insurance. AIG said its subsidiaries would acquire the Chilean operation’s licenses, employees and ongoing insurance business when the deal closes.
Jon Hancock, AIG’s chief executive of General Insurance, said the transactions would expand the company’s commercial insurance capabilities in Latin America. He cited investment in infrastructure, energy, logistics and manufacturing as sources of demand for coverage.
For Everest, the Chile agreement represents the final planned sale of its Latin American insurance operations as part of its exit from commercial retail insurance, the seller said in a separate Friday release.
The two announcements distinguish between the completed Colombia acquisition and the pending Chile agreement. The Chile business has not yet transferred to AIG.
JBizNews Business Desk | New York
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