Core Insights - Everest Group has agreed to sell the renewal rights for its Global Retail Commercial Insurance business to American International Group (AIG) for an estimated $2 billion in aggregate gross premiums written [1][2] Group 1: Transaction Details - The financial terms of the agreement have not been disclosed [1] - AIG will gain the rights to renew Everest's US, UK, European, and Asia-Pacific Commercial Retail businesses [1] - The transition of policy writing to AIG is set to begin on January 1, 2026, for regions outside the EU, with plans to include EU portfolios in the first quarter of 2026, pending regulatory approvals [2] Group 2: Strategic Implications - AIG expects the renewal rights transaction to drive incremental growth in its general insurance portfolio without requiring additional capital [3] - Everest aims to focus on its core global Reinsurance business and its Global Wholesale and Specialty Insurance businesses following the transaction [3] Group 3: Organizational Changes - Everest has introduced a new operating structure for its insurance division, emphasizing its Global Wholesale and Specialty Insurance businesses [4] - Jason Keen has been appointed CEO of Global Wholesale and Specialty Insurance to oversee these areas [4] Group 4: Leadership Statements - Everest's CEO, Jim Williamson, highlighted the opportunity to unlock long-term value for both companies and emphasized the importance of responding to evolving market needs [5] - Mark Shaw has been appointed as the chief commercial officer for Everest's International Insurance operations [5]