American International Group (AIG) has agreed to acquire the Colombia insurance unit of Everest Group [1].
The move allows AIG to deepen its relationships with brokers and clients while expanding its commercial insurance presence in Latin America [2]. Colombia represents one of the largest insurance markets in the region, making it a strategic target for growth [2].
The unit being sold is Everest Compañía de Seguros Generales Colombia S.A. [1]. According to reports, the agreement was announced May 19, 2026 [3].
Jon Hancock said, "This acquisition reinforces AIG's commitment to our Latin America business and will enable us to accelerate our growth in one of the largest and fastest-growing insurance markets in the region" [2].
By absorbing the Everest operation, AIG aims to scale its capacity to handle commercial risks within the Colombian economy. The acquisition signals a shift in Everest Group's regional strategy and a more aggressive expansion phase for AIG in the Southern Hemisphere.
The transaction focuses specifically on the general insurance operations of Everest in Colombia [1]. This allows AIG to integrate existing local expertise, and a pre-established client base, into its global network.
“AIG agreed to acquire Everest Group's Colombia insurance unit”
This acquisition indicates AIG's strategic pivot toward strengthening its regional hubs in Latin America to compete with local and global insurers. By acquiring an established entity like Everest Compañía de Seguros Generales Colombia, AIG avoids the slower process of organic growth and immediately gains market share in a high-growth economy.
