American International Group, Inc. (AIG) has entered into definitive agreements to acquire the renewal rights for a majority of Everest Group Ltd.’s retail insurance portfolios worldwide. The portfolios represent approximately $2 billion in aggregate premium. Under the agreement, all existing liabilities will remain with Everest, which will also continue to administer claims for its policies.
AIG Chairman and CEO Peter Zaffino said the transactions are expected to contribute to incremental growth in AIG’s general insurance portfolio, supporting earnings per share and return on equity expansion. “We expect these renewal rights transactions to drive incremental growth in our general insurance portfolio, and we will be able to write these policies within our existing balance sheet with no incremental capital required,” Zaffino said. He added that AIG looks forward to working with Everest to ensure a smooth transition for clients and brokers and will continue to collaborate with Everest as a key reinsurance partner.
Jim Williamson, President and CEO of Everest Group, and his underwriting team were recognized by Zaffino for their work in repositioning Everest’s global retail insurance portfolio. AIG views these portfolios as complementary additions to its business.
Terms of the agreements were not disclosed. AIG expects to begin writing policies for existing Everest clients in most regions on January 1, 2026, and to expand to Everest’s European Union portfolios during the first quarter of 2026, pending regulatory approvals.
Advising AIG on the transaction were Evercore as financial advisor and Willkie Farr & Gallagher LLP as legal counsel. Everest was advised by Ardea Partners LP as financial advisor and Debevoise & Plimpton LLP as legal counsel.
American International Group, Inc. (NYSE: AIG) is a global insurance organization providing commercial and personal insurance solutions in more than 200 countries and jurisdictions. For more information, visit www.aig.com.
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