Everest Announced Agreement to Sell Mexico Insurance Operations to Fairfax

Everest Group, Ltd. (“Everest” or “the Company”) (NYSE: EG), a global specialty reinsurance and insurance leader, announced that it has entered into a definitive agreement to sell Compañía de Seguros Generales Everest México S.A. de C.V. (“Everest Mexico”) to Fairfax Financial Holdings Limited (“Fairfax”) (TSX: FFH and FFH.U).

“This agreement reflects the disciplined execution of our strategic priorities and continues the transformation of Everest into a more focused, higher-performing organization,” said Jim Williamson, President and Chief Executive Officer of Everest. “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. 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.”

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.

Advisors to the transaction include Guy Carpenter Capital & Advisory, a division of MMC Securities LLC, as financial advisor and Debevoise & Plimpton LLP as legal counsel to Everest.