Completes Sale of Colombia Insurance Business, Advancing Planned Exit from Commercial Retail Insurance

Company Website: https://everestglobal.com
HAMILTON, Bermuda -- (Business Wire)

Everest Group, Ltd. (“Everest” or “the Company”) (NYSE: EG), a global specialty reinsurance and insurance leader, today announced that it has entered into a definitive agreement to sell Everest Compañía de Seguros Generales Chile S.A. to American International Group, Inc. (NYSE: AIG). The agreement represents the final planned divestiture of Everest’s Latin American insurance operations as part of its strategic exit from commercial retail insurance.

Everest also announced the completion of its previously disclosed sale of its Colombia insurance business, Everest Compañía de Seguros Generales Colombia S.A., to AIG.

“These milestones mark meaningful progress in building a stronger, more focused organization centered on the businesses where we see the greatest opportunity to deliver long-term value,” said Jim Williamson, President and Chief Executive Officer of Everest. “We have been deliberate in aligning our operations with our strategic priorities, and these transactions bring us closer to completing that work. I am grateful to our colleagues in Latin America for their dedication and contributions to Everest.”

The sale of the Chile insurance business is expected to close in the first half of 2027, subject to customary regulatory approvals and closing conditions.

About Everest

Everest Group, Ltd. (Everest) is a global underwriting leader providing best-in-class property, casualty, and specialty reinsurance and insurance solutions that address customers’ most pressing challenges. Known for a 50-year track record of disciplined underwriting, capital and risk management, Everest, through its global operating affiliates, is committed to underwriting opportunity for colleagues, customers, shareholders, and communities worldwide.

Everest common stock (NYSE: EG) is a component of the S&P 500 index.

Additional information about Everest, our people, and our products can be found on our website at www.everestglobal.com.

Forward-looking Statements

This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other U.S. federal securities laws. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. Forward-looking statements about the sale transaction, strategic repositioning and Commercial Retail Insurance operations exit plans reflect management’s current expectations based on assumptions we believe are reasonable but are not guarantees of performance. Actual results may differ materially from those contained in forward-looking statements made by or on behalf of the Company. Forward-looking statements involve risks and uncertainties including the actual impact of the sale transaction, strategic repositioning and Commercial Retail Insurance operations exit plans and other factors described in our SEC filings, including but not limited to our latest Annual Report on Form 10-K. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Contacts:

Media: Dawn Lauer
Chief Communications Officer
908.300.7670

Investors: Matt Rohrmann
Head of Investor Relations
908.604.7343

Source: Everest Group, Ltd.