AIG’s Chile Deal Builds on Completed Everest Colombia Purchase

AIG’s planned purchase of Everest Chile would give the insurer two recently acquired or targeted commercial insurance businesses in neighboring Latin American markets. The Colombia deal is complete; the Chile transaction is expected to close in the first half of 2027, subject to required approvals and other customary conditions.

The moves add to AIG’s presence in the region and advance Everest Group’s exit from commercial retail insurance in Latin America. Everest described the Chile agreement as the final planned sale of its Latin American insurance operations. For clients and brokers, the transition will involve established local businesses, employees and insurance relationships moving under AIG ownership if the Chile deal closes.

Chile operation serves corporate clients

Everest Chile, formally Everest Compañía de Seguros Generales Chile S.A., serves corporate and upper-middle-market customers. Its portfolio includes property, energy, marine, financial lines and casualty coverage. AIG subsidiaries are set to acquire the company’s licensed operations, employees and ongoing insurance business when the transaction is completed.

The range of lines gives AIG an operating base across several commercial risks. Property and casualty coverage address different exposures, while the portfolio also reaches sectors such as energy and marine. The source does not specify policy terms, limits, premiums or whether individual coverage arrangements will change as ownership transfers. Clients and brokers will therefore need to follow communications from the companies for details that apply to their accounts.

AIG General Insurance chief executive Jon Hancock said the Chile acquisition builds on the completed purchase of Everest Colombia and is intended to expand the company’s commercial capabilities for clients and brokers in Latin America. He also pointed to the two countries’ standing as major corporate insurance markets in the region and linked demand for commercial coverage with growth in infrastructure, energy, logistics and manufacturing.

Colombia purchase is complete

AIG has completed its previously announced acquisition of Everest Compañía de Seguros Generales Colombia S.A., known as Everest Colombia. The source identifies the completion but does not provide a closing date, purchase price or details on the Colombian portfolio. That leaves the Chile agreement as the next transaction to watch in AIG’s regional expansion.

Hancock said AIG expects to welcome the teams from both businesses and build on their existing client and broker relationships. Local staff and established relationships can matter in commercial insurance, where coverage needs may involve several lines and ongoing coordination between businesses, brokers and insurers. The companies said they will work together on the Chile transition to support colleagues, clients and broker partners.

For policyholders, the announcement itself does not describe changes to existing contracts, claims handling or renewal arrangements. The Chile transaction has not closed, and AIG’s planned acquisition remains conditional. Businesses insured through Everest Chile should look to their insurer or broker for account-specific updates as the closing approaches, particularly about contacts and servicing arrangements. The source provides no comparable transition details for Everest Colombia.

Everest sharpens its business focus

Everest said the Latin American sales are part of a broader effort to concentrate on the businesses where it sees the greatest opportunity for long-term value. Chief executive Jim Williamson described the deals as progress toward a more focused organization and thanked Everest’s Latin American colleagues for their work. The company characterized Chile as the last planned divestiture of its regional insurance operations tied to its departure from commercial retail insurance.

The transactions thus reflect different priorities for the two companies: AIG is adding local commercial operations, while Everest is completing a planned regional withdrawal from this part of its business. The source does not describe Everest’s plans for other lines or regions, nor does it quantify the expected effect of either deal on premiums, market share or financial results.

The expected first-half 2027 closing window gives clients and brokers time to track the Chile deal’s progress, but it is not a guarantee of completion by a particular date. Its practical effect will become clearer as the companies provide transition information and confirm which operating arrangements carry over. For now, the central change is the completed Colombia purchase alongside a pending agreement that would bring Everest Chile’s business and team to AIG.