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Fairfax Financial

Mitsui Sumitomo to acquire Fairfax’s 98% First Capital interest

24th August 2017

Fairfax and Mitsui Sumitomo Insurance (MSI), a subsidiary of MS&AD Insurance Group Holdings, have entered into an agreement to pursue a strategic partnership which will include establishing reinsurance relationships and Mitsui's acquisition of Fairfax's 97.7% interest in First Capital Insurance Limited of Singapore. Under the agreement the firms announced plans to collaborate in ... Read the full article

Fairfax completes Allied World acquisition

6th July 2017

Fairfax Financial Holdings has announced the successful completion of the acquisition of Allied World Assurance Company Holdings and closing of the exchange offer for all Allied World issued and outstanding ordinary shares, by Fairfax Financial Holdings (Switzerland) GmbH. According to a recent announcement the parent company intends that Fairfax Switzerland, its indirect ... Read the full article

Fairfax to sell shares of Indian insurer ICICI Lombard

30th May 2017

FAL Corporation - a subsidiary of Fairfax Financial Holdings - has announced plans to sell 12.8% of ICICI Lombard General Insurance Company's ("ICICI Lombard") fully diluted shares to Red Bloom Investment (9.00%). Under the deal,  ICICI Lombard - a leading general insurance company in India with gross written premiums of approximately $1.2 billion - is valued ... Read the full article

Fairfax-Allied World deal edges closer as shareholders announce vote of approval

23rd March 2017

Allied World Assurance Company Holdings has revealed that its shareholders have approved two proposals surrounding its previously announced merger deal with Canadian firm Fairfax Financial Holdings, bringing the transaction closer to completion. Earlier in March Fairfax exercised its option to increase the cash consideration element of the acquisition by $18 per ... Read the full article

Fairfax to pay more cash for Allied World

13th March 2017

Fairfax Financial Holdings Limited has exercised its option to increase the cash consideration element of its offer to acquire Allied World by $18 per ordinary share, which, combined with a $5 special dividend takes the cash consideration component of the offer to $28 per share. Fairfax and Allied World recently announced that ... Read the full article

Suncorp looks to beat Fairfax to Tower in New Zealand

22nd February 2017

Australia and New Zealand based insurer Suncorp Group has made a counter-offer to acquire Tower Insurance of New Zealand, seeking to beat Prem Watsa's Fairfax to the deal. Prem Watsa's Fairfax Financial made an all cash offer at $1.17 per share, so valuing Tower at $197 million, which was a ... Read the full article

Fairfax Financial heads to New Zealand with $197m Tower acquisition

9th February 2017

Prem Watsa's Fairfax Financial, which owns Brit Insurance and is in the process of acquiring re/insurer Allied World, is entering the New Zealand insurance market with the acquisition of Tower Insurance. Announced today, Fairfax Financial has made an all cash offer at $1.17 per share, so valuing the insurer at ... Read the full article

OMERS to contribute $1 billion to Fairfax’s Allied World acquisition

27th January 2017

It's been confirmed that OMERS, Ontario’s municipal employees’ pension plan has agreed to contribute $1 billion to the acquisition of Allied World alongside Fairfax Financial. The contribution will see OMERS indirectly acquire approximately 21% of insurer and reinsurer Allied World's shares. Fairfax had announced mid-December it would purchase Allied World for $4.9 billion ... Read the full article

Fairfax to tap Omers pension fund, other investors, to finance Allied World buy

25th January 2017

Fairfax Financial Holdings Limited is close to securing as much as $1 billion from Canada's OMERS pension fund to help finance its acquisition of Allied World Assurance Company Holdings, AG, according to reports. Prem Watsa's Canadian property & casualty insurance and reinsurance group Fairfax is set to acquire Switzerland headquartered specialty ... Read the full article

Allied World “go-shop” period expires with no offers

19th January 2017

The "go shop" period for specialty insurance, reinsurance and investments player Allied World Assurance Company Holdings, AG, under the terms of its planned merger with Canadian property & casualty insurance and reinsurance group Fairfax Financial Holdings Limited has not resulted in any offers. Fairfax is set to acquire Allied World in ... Read the full article

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