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Everest Group Sells Everest Mexico to Fairfax Financial
Everest Group (EG) has entered into a definitive agreement to sell Compania de Seguros Generales Everest Mexico - Everest Mexico - to Fairfax Financial (FRFHF). The transaction follows Everest's recent announcements of agreements to sell its Colombia and Canada insurance operations as part of its planned exit from its remaining commercial retail insurance businesses. It is expected to close in 2027, subject to customary regulatory approvals and closing conditions.
Everest Q2 Revenue of $3.961B Beats Expectations
Reports Q2 revenue $3.961B, consensus $3.44B. "Everest delivered a strong quarter driven by meaningful contributions from both underwriting income across our Core businesses and investments resulting in an annualized total shareholder return of 16.8%. The results this quarter show the strength of the franchise we have built and the benefits of our actions to strengthen underwriting performance as well as optimize the balance sheet." said Jim Williamson, Everest President and CEO. "Our Reinsurance Treaty team delivered another excellent quarter. This was clear during the mid-year renewals, where the team's world class execution resulted in meaningful outperformance on rate and terms versus the market. Our Global Wholesale & Specialty business continues to see the benefits from our strategy to expand the portfolio in specialty lines and targeted international markets while delivering margin expansion. As we look ahead, our focus is on profitably developing our Core businesses while effectively deploying capital, where share repurchases remain a top priority."
Everest Group Partners with Stone Point to Launch $600M Reinsurance Project
Everest Group announced that it has partnered with Stone Point Insurance Solutions to launch Annapurna, a Bermuda-based casualty reinsurance sidecar. Funds managed by Stone Point will serve as the inaugural, anchor investors in this multi-year vehicle. As part of the transaction, Annapurna is expected to deploy approximately $600M of third-party capital, providing dedicated reinsurance capacity to support Everest's global casualty and specialty reinsurance portfolios over a three-year underwriting period.
Everest Group Sells Colombia Insurance Company to AIG
Everest Group (EG) announced a definitive agreement to sell Everest Compania de Seguros Generales Colombia S.A. to American International Group (AIG). The transaction builds on Everest's previously announced sale of its global Commercial Retail Insurance renewal rights to AIG and the sale of its Canada Retail Insurance operations, marking another key step in the Company's strategy to focus the portfolio on its core Global Reinsurance and Wholesale and Specialty Insurance businesses. The transaction is expected to close in early 2027, subject to customary regulatory approvals and closing conditions.
American International Group Acquires Everest Insurance Colombia
American International Group (AIG) entered into a definitive agreement to acquire Everest Compania de Seguros Generales Colombia, Everest Group's (EG) insurance subsidiary in Colombia. The acquisition of Everest Colombia strengthens AIG's presence in the Latin America region and supports the company's strategy to drive premium growth. Upon completion of the transaction, subsidiaries of AIG will acquire 100 percent of the equity of Everest Colombia, including its licensed operations, employees and ongoing insurance business. AIG and Everest will work closely to ensure a seamless transition for clients, brokers and colleagues. The transaction is expected to close in early 2027, subject to regulatory approvals and other customary closing conditions.
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