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Fortune
Fortune
Lily Mae Lazarus

AIG to acquire the majority of renewal rights to Everest Group’s global retail insurance portfolio in $2 billion deal

AIG Everest Everest Group Peter Zaffino Insurance United States
Peter Zaffino gestures with his hands (Credit: CHRISTOPHER GOODNEY—Bloomberg/Getty Images)
  • AIG will acquire the renewal rights to most of Everest Group’s global retail insurance portfolio in a $2 billion deal that expands its customer base without taking on Everest’s past liabilities, marking a major step in CEO Peter Zaffino’s transformation of the company.

Insurance giant AIG is set to acquire the renewal rights for the majority of Everest Group’s global retail insurance portfolio worth $2 billion in premiums, sources with intimate knowledge of the deal told Fortune.

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