Global insurance group AIG has agreed to acquire Everest Group’s Chilean insurance subsidiary, following the completion of its purchase of Everest’s Colombian business as it looks to strengthen its commercial insurance presence across Latin America.

The proposed Chile acquisition covers Everest Compañía de Seguros Generales Chile S.A., which serves corporate and upper-middle-market customers across property, energy, marine, financial lines and casualty insurance. Once completed, AIG subsidiaries will assume the business’s licensed operations, employees and existing insurance portfolio.

The two transactions mark a further step in AIG’s regional expansion strategy. The insurer has operated across Latin America for decades and views the region as an important growth market, particularly as demand for commercial cover increases alongside investment in infrastructure, energy, logistics and manufacturing.

AIG expects the Chilean transaction to complete in the first half of 2027, subject to regulatory approval and customary closing conditions. The companies intend to work together during the transition to minimise disruption for employees, customers and broker partners. The agreement follows AIG’s completed acquisition of Everest’s Colombian insurance operation, giving the group an expanded presence in two of Latin America’s corporate insurance markets.

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.

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