Global underwriter Everest Group has entered into a definitive agreement to sell its Colombian insurance subsidiary, Everest Compañía de Seguros Generales Colombia S.A., to American International Group (AIG).
The divestment represents the latest step in Everest’s ongoing strategic overhaul, designed to sharpen its corporate focus on high-margin global reinsurance, wholesale insurance, and specialty markets.
Part of a Broader Retail Exit
The Colombia transaction follows a clear pattern of offloading international retail insurance footprints to maximize competitive advantages elsewhere. It directly succeeds two other major portfolio realignments by Everest:
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The sale of its global Commercial Retail Insurance renewal rights to AIG.
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The complete sale of its Canada Retail Insurance operations.
“This agreement reflects continued progress in reshaping our portfolio. The sale allows Everest to strengthen our position in markets and capabilities where we have the strongest competitive advantage.”
— Jim Williamson, Everest President and CEO
Transaction Details & Next Steps
The corporate handover is slated to officially close in early 2027, pending the green light from regional regulatory bodies and customary closing conditions.
| Transaction Role | Designated Firm |
| Financial Adviser (to Everest) | Guy Carpenter Capital & Advisory (a division of MMC Securities LLC) |
| Legal Counsel (to Everest) | Debevoise & Plimpton LLP |
While the retail framework in Colombia transitions to an owner equipped to fuel its next phase of consumer growth, Everest Group’s core strategy moving forward will remain firmly anchored in disciplined reinsurance underwriting, tight capital management, and institutional risk mitigation.
