Everest agrees to sell its Chile insurance unit to AIG in its last planned Latin American exit

Everest Group has agreed to sell Everest Compañía de Seguros Generales Chile S.A. to American International Group (AIG), Reinsurance News reported on 30 October. AIG subsidiaries will take over the unit's licensed operations, employees and ongoing business. The deal needs regulatory approvals and is expected to close in the first half of 2027. No price was disclosed.

Everest Chile writes property, energy, marine, financial lines and casualty cover for corporate and upper-middle-market clients. Everest describes the sale as the final planned divestiture of its Latin American insurance operations. It has also completed the previously announced sale of its Colombian insurer, Everest Compañía de Seguros Generales Colombia S.A., to AIG.

Both deals are part of Everest's exit from commercial retail insurance. In October 2025 it agreed to sell the renewal rights for its US, UK, European and Asia-Pacific commercial retail business to AIG. It agreed in March 2026 to sell Everest Insurance Company of Canada to Wawanesa, and in August 2026 to sell its Mexican insurance operations to Fairfax.

AIG's Jon Hancock said Colombia and Chile are the "fourth- and fifth- largest corporate insurance markets in Latin America". Everest chief executive Jim Williamson said the steps mark progress towards "a stronger, more focused organisation".