Bermuda-based global reinsurance group Everest has agreed to sell Everest Compañía de Seguros Generales Colombia S.A. to American International Group (AIG).
According to the firm, this transaction builds on the previously announced sale of its global Commercial Retail Insurance renewal rights to AIG and the sale of its Canada Retail Insurance operations.
It also reportedly marks “another key step” in the firm’s strategy to focus the portfolio on its core Global Reinsurance and Wholesale and Specialty Insurance businesses.
The deal is expected to close in early 2027, subject to customary regulatory approvals and closing conditions.
Everest was advised on the transaction by Guy Carpenter Capital & Advisory, a division of MMC Securities LLC, as financial advisor, and Debevoise & Plimpton LLP as legal counsel.
Jim Williamson, President and Chief Executive Officer of Everest, commented, “This agreement reflects our continued progress in executing our strategy and positioning Everest for sustained, long-term performance.
“It pairs a high-quality business with an owner well positioned to support its next phase of growth, while enabling us to strengthen leadership in the markets and capabilities where we have the strongest competitive advantage.
“The Colombia team has built a respected franchise, and we are confident it will continue to build on that momentum under AIG’s ownership.”
Everest generated net income of $653 million in the first quarter of 2026, an increase of more than 210% year-on-year, as the group’s combined ratio strengthened by 11.6 pts to 91.2% on the back of lower pre-tax net catastrophe losses.
