AIG agrees to buy Everest's Chile insurance unit and closes Colombia deal

American International Group has signed a definitive agreement to acquire Everest Compañía de Seguros Generales Chile, the Chilean insurance subsidiary of Everest Group. Upon completion, AIG subsidiaries will take over the licensed operations, employees and ongoing insurance business. The Chile deal is expected to close in the first half of 2027, subject to regulatory approvals and other customary conditions.

AIG also announced the completion of its previously announced acquisition of Everest Compañía de Seguros Generales Colombia. Everest Chile serves corporate and upper-middle-market clients across property, energy, marine, financial lines and casualty insurance. AIG said the deals strengthen its Latin American commercial insurance business. Jon Hancock, CEO of General Insurance at AIG, said Colombia and Chile are the fourth- and fifth-largest corporate insurance markets in Latin America. Willkie Farr & Gallagher and Carey y Cía. advised AIG on the Chile agreement, and Evercore advised on the Colombia transaction.