Everest Group completes Colombia insurance sale and agrees Chile unit sale to AIG
Everest Group announced that it has closed the sale of its Colombia retail insurance business to AIG. The company also disclosed an agreement to sell its Chile insurance unit to AIG, with the transaction slated to close in the first half of 2027 pending regulatory approval. Both moves are part of Everest’s plan to exit commercial retail insurance in Latin America and concentrate on its core reinsurance operations. No financial terms were disclosed for the Chile deal.
Why it matters
The divestitures reduce Everest’s exposure to Latin American retail insurance and free capital for its core reinsurance business, which the company says aligns with its strategic priorities. The pending Chile transaction, expected to close in H1 2027, will complete Everest’s exit from the region, potentially improving its focus and profitability.
Key facts
- 1Everest Group completed the sale of its Colombia insurance business to AIG. stocktitan.net
- 2Everest Group agreed to sell its Chile insurance unit to AIG. tradingview.com
- 3The Chile transaction is expected to close in the first half of 2027, subject to regulatory approval. tradingview.com
- 4Financial terms of the Chile sale were not disclosed. investing.com
- 5Everest’s shares rose 2.40% to $410.21 following the announcement. rttnews.com
- 6AIG’s shares gained 0.14% to $81.55 after the news. rttnews.com
Summary written by AlphAI AI Desk from 5 of 5 sources. Not investment advice. Figures are as stated by the linked sources.