Everest Group has agreed to sell its Chilean insurance subsidiary to American International Group, advancing its exit from commercial retail insurance. The Everest Chile sale is expected to close in the first half of 2027, subject to regulatory approvals and other closing conditions.

Key Takeaways

  • AIG subsidiaries will acquire Everest Chile’s licensed operations, employees and ongoing insurance business when the deal closes.
  • Everest has completed a separate sale of its Colombian insurance business to AIG.

What the Everest Chile sale covers

The definitive agreement covers Everest Compañía de Seguros Generales Chile S.A., which serves corporate and upper-middle-market clients. Its insurance portfolio includes property, energy, marine, financial lines and casualty coverage.

The transaction is Everest’s final planned divestiture of its Latin American insurance operations. Financial terms were not disclosed in the available details.

Colombia deal completed as retail exit continues

Everest also said it had completed the sale of Everest Compañía de Seguros Generales Colombia S.A. to AIG. Everest’s May agreement to sell its Colombian business had initially anticipated a closing in early 2027.

The transactions are part of a broader retreat from commercial retail insurance. In October 2025, Everest agreed to sell renewal rights for its U.S., U.K., European and Asia Pacific commercial retail businesses to AIG. It signed an agreement to sell its Canadian retail insurance operations to Wawanesa in March 2026 and agreed to sell its Mexican insurance operations to Fairfax Financial Holdings in August 2026.

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