Everest sells Mexico insurance business to Fairfax
Everest has agreed to sell its Mexico insurance business to Fairfax Financial Holdings, continuing its strategic exit from commercial retail insurance operations as it sharpens its focus on its reinsurance and global wholesale and specialty franchises.
The global specialty re/insurer has agreed to sell Compañía de Seguros Generales Everest México (Everest Mexico) to Fairfax. The transaction is expected to close in 2027.
The sale follows Everest’s previously announced agreements to divest its insurance operations in Colombia and Canada as part of its strategy to exit its remaining commercial retail insurance businesses and increase its focus on its reinsurance and global wholesale and specialty franchises.
Guy Carpenter Capital & Advisory, a division of MMC Securities, is acting as financial adviser to Everest on the transaction, while Debevoise & Plimpton handles the legal side.
Jim Williamson (pictured), president and CEO of Everest, said: “This agreement reflects the disciplined execution of our strategic priorities and continues the transformation of Everest into a more focused, higher-performing organisation.
“By sharpening our investment in our core reinsurance and global wholesale and specialty franchises, we are positioning the company to capitalize 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.”
Did you get value from this story? Sign up to our free newsletters and get stories like this sent straight to your inbox.
