Insurance Brokers M&A » By The Online Investor Staff, updated Thu., Apr. 18, 12:13 AM
Recent mergers and acquisitions in the Insurance Brokers M&A category.
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Slide #9. Fairfax Financial Holdings Limited — 80% of PT Batavia Mitratama Insurance
Acquirer:
Fairfax Financial Holdings Limited (TSE:FFH.CA)
Acquiree:
80% of PT Batavia Mitratama Insurance
Details:
Fairfax Financial Holdings Limited ("Fairfax") (TSX:FFH)(TSX:FFH.U) announced today that it has, through its wholly-owned subsidiary Fairfax Asia Limited, entered into a share purchase agreement pursuant to which it will acquire 80% of PT Batavia Mitratama Insurance ("Batavia"), an Indonesian insurer. The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2014.
Fairfax Financial Holdings is a holding company. Through its subsidiaries, Co. is engaged in property and casualty insurance and reinsurance and the associated investment management. Co.'s insurance and reinsurance companies operate on a decentralized basis, with autonomous management teams applying a focused underwriting strategy to their markets. Co.'s subsidiaries provide a range of property and casualty products, maintaining a portfolio of risks across all classes of business, geographic regions, and types of insureds. Co.'s investments are centrally managed for all Co.'s group of companies by Hamblin Watsa Investment Counsel Ltd., a wholly-owned subsidiary of Co.
Preferreds: FFH.PRC.CA, FFH.PRE.CA, FFH.PRG.CA, FFH.PRI.CA, FFH.PRK.CA
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