AIG is broadening its commercial insurance operations in Latin America after agreeing to purchase Everest Group’s Chilean subsidiary, adding to its recently completed acquisition of the group’s Colombian business.
The proposed deal centres on Everest Compañía de Seguros Generales Chile S.A., an insurer focused on corporate and upper-middle-market clients. Its underwriting portfolio spans property, energy, marine, financial lines and casualty insurance.
AIG subsidiaries will take control of the Chilean operation’s existing policies, workforce and licensed activities once the transaction receives the necessary approvals and completes.
The expansion gives AIG access to established commercial insurance relationships in both Chile and Colombia, two markets the company believes offer significant potential. Rising investment in major infrastructure projects, energy, logistics and manufacturing is creating further demand for insurers able to cover complex corporate risks.
The Chilean transaction is expected to close during the first half of 2027. Completion remains dependent on regulatory approval and other customary conditions. AIG and Everest have also committed to working together to ensure the transfer is managed with minimal disruption for customers, employees and brokers.
The acquisition forms part of AIG’s wider strategy to build its international General Insurance business and deepen its relationships with commercial clients and distribution partners across the region.
AIG executive vice president and CEO of General Insurance Jon Hancock said, “Our acquisition of Everest Chile represents another important step in expanding our commercial insurance capabilities for clients and brokers across Latin America, building on our acquisition of Everest’s Colombia business.
“As the fourth- and fifth- largest corporate insurance markets in Latin America, respectively, Colombia and Chile present strong opportunities as investment in infrastructure, energy, logistics and manufacturing continues to grow, driving demand for more commercial insurance solutions. We look forward to welcoming the talented Everest Chile and Colombia teams to AIG and building on their established relationships as we help solve complex risk challenges for our clients and partners in the market.”
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