King Risk Partners, which said it is now the 51st largest insurance brokerage in the United States, has acquired
Stuart Surles Insurance agency in Angier, North Carolina, near Raleigh.
The Surles agency, founded some 30 years ago, specializes in farm insurance as well as home, auto, health and life i
nsurance, the companies said in a news release. Stuart Surles is the owner and will remain with the firm.
King Risk, based in Gainesville, Florida, continues to expand thro
ugh acquisitions and growth. It has 12 agencies in North Carolina and 50 more around the eastern half of the country.
“Today’s strategic action results in a more focused, higher-performing Everest,” said Jim Williamson, Ev
erest president and CEO. “Going forward, Everest will be optimally pos
itioned to respond to evolving market needs while building on our track record of sustainable financial returns over the long term.”
AIG said it expects to start writing policies for existing Everest clients, except in the EU, on January 1, 202
6. During the first quarter of 2026 AIG foresees doing the same in the EU.
Terms of the deal, which is subject to regulatory approvals, were not disclosed.
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Everest also announced a new operating structure for its new insurance division, which includes Everest
Global Markets and Everest Evolution, as well as underwriting programs,
credit and political risk, surety, and accident & health business lines.
Jason Keen has been appointed CEO of Global Wholesale and Spe
cialty Insurance and will lead efforts to strengthen Everest’s position in the E&S market.
Zaffino said AIG will work closely with the Everest team “to ensure a seamless transition for clients and brokers,” and
the company will continue to work with Everest as a reinsurance partner.
The additions to the portfolio will fall within AIG’s General Insurance
segment, which will be led by former Lloyd’s CEO John Neal, who was hired in July and starts at AIG on December 1.
Last month, AIG announced the retirement of Don Bailey, head of com
mercial insurance in North America, at the end of the year. Beginning Jan. 1, Allison Cooper and Barbara Luck will be co-p
residents of AIG’s retail commercial business in North America. Lou Levinson will be president of wholesale for North America Commercial.