Everest Group, Ltd. announced it has entered into definitive agreements to sell the renewal rights for its Global Retail Commercial Insurance business to American International Group, Inc. (AIG). This move is intended to sharpen Everest’s focus on its core global Reinsurance business and its Global Wholesale and Specialty Insurance businesses.
As a result of the agreements, AIG will acquire the rights to renew Everest’s U.S., U.K., European, and Asia Pacific Commercial Retail businesses. These renewal rights represent approximately $2 billion in aggregate gross premiums written. The transactions are expected to deliver significant value to Everest, including the release of substantial capital over time.
“Today’s strategic action results in a more focused, higher-performing Everest,” said Jim Williamson, Everest President and Chief Executive Officer. “The transactions offer clear opportunity to unlock long-term value for both Everest and AIG. Going forward, Everest will be optimally positioned to respond to evolving market needs while building on our track record of sustainable financial returns over the long term.”
Following these transactions, Everest has introduced a new operating structure for its insurance division centered on its Global Wholesale and Specialty Insurance businesses. This structure includes units such as Everest Global Markets and Everest Evolution, along with Underwriting Programs, Credit and Political Risk, Surety, and Accident & Health business lines. Jason Keen has been appointed CEO of Global Wholesale and Specialty Insurance to lead efforts in strengthening Everest’s presence in the excess and surplus market.
Williamson added, “The dynamic specialty market is full of opportunity. With Jason’s leadership and expertise, Everest Insurance is poised to capture new growth opportunities, while delivering tailored solutions and exceptional value to the market.”
Completion of these transactions remains subject to regulatory approvals.
Ardea Partners LP acted as exclusive financial advisor for Everest. Debevoise & Plimpton LLP served as legal advisor for the company. Evercore advised AIG financially, while Willkie Farr & Gallagher LLP was AIG’s legal counsel.
Separately, Everest released its third quarter 2025 financial results today. Details can be found in the “Investor Relations” section of their website at investors.everestglobal.com. The company will host a conference call discussing these results at 8:00 a.m. Eastern Time on Tuesday October 28, 2025; this call will be accessible through their website.
Further supplemental financial information is available online or by contacting the company directly.
Everest Group operates globally with a history spanning five decades in underwriting property, casualty, and specialty reinsurance and insurance solutions.
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