Everest renewal rights deal a “great opportunity to grow faster”: AIG, Jon Hancock

Jon Hancock, EVP & CEO of International Commercial and Global Personal Insurance at AIG, said the recent renewal rights deal with Everest is a great opportunity to accelerate growth for AIG’s already robust commercial business, while also benefiting brokers and clients.

In October 2025, . The renewal rights of these businesses represent an estimated $2 billion of aggregate gross premiums written.

During AIG’s Conference Call, Hancock said, “I think this is a great deal for everyone, for us, for Everest, and critically, for those brokers and clients. We’re getting great reactions from all of them.”

He added, “Everybody knows AIG’s commercial business is incredibly strong, you see that through our results every quarter, and we want it to grow faster, and this is a great opportunity to help do just that.”

Hancock highlighted continuity as a key advantage of the deal, noting that the businesses fit seamlessly with AIG’s existing portfolio.

“It’s a great fit for our existing business to add to it, it’s the sort of business we like, and being the incumbent is important in our industry. It’s important for us, for the broker, and the client. It means we don’t have to re-underwrite all over again. We do have that continuity. We renew together rather than starting again, and a renewal rights deal like this brings that into play. So there’s an advantage to all of us,” he said.

He emphasised that AIG is determined to renew the whole portfolio, adding that it has carefully reviewed it and is comfortable with overlaps. “Sometimes they’re on the same risks, same or different layers, and we’re really comfortable with that. We’ve been managing our limits and exposures, waiting for growth opportunities like this. We have plenty of capacity, and everything will be well within our risk appetite,” the executive stated.

Hancock continued, “We’ll get it renewed by making it seamless and straightforward, giving that continuity that is so important. We’ve already reached out to thousands of brokers and hundreds of clients, as have Everest, we started those conversations, and we’ve received tremendous support. We’re very grateful for that, and now we’re fully focused on getting this business into the portfolio.”

He also noted that the deal was executed quickly yet thoroughly, stating that both companies decided early on that it was the right thing to do.

“I love the fact we did the deal at pace. We both decided very early on it was the right thing for us, hence the bilateral discussions. We wanted to do it, but we did it thoroughly, and we did it quickly,” Hancock said.