Everest Group has entered into a definitive agreement to sell Compañía de Seguros Generales Everest México S.A. de C.V. (Everest Mexico) to Fairfax.
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.
“This agreement reflects the disciplined execution of our strategic priorities and continues the transformation of Everest into a more focused, higher-performing organisation,” said Jim Williamson, president and CEO of Everest.
“By sharpening our investment in our core reinsurance and global wholesale and specialty franchises, we are positioning the company to capitalise on the most attractive opportunities across our portfolio. At the same time, we are pleased to have found a strong long-term owner in Fairfax for our Mexico business. I want to thank our colleagues in Mexico for their dedication and contributions to Everest, and I am confident they will continue to thrive as part of Fairfax.”
Advisers to the transaction included Guy Carpenter Capital & Advisory, a division of MMC Securities LLC, as financial adviser, and Debevoise & Plimpton LLP as legal counsel to Everest.
