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International

Fairfax Financial to invest $79 million in Irish insurer FBD Holdings

September 18, 2015 Reprints

Canada-based Fairfax Financial Holdings Ltd. and Irish insurer FBD Holdings P.L.C. have said that Fairfax will invest €70 million ($79 million) in FBD Holdings to boost the Irish insurer's capital, reports Reuters.

Fairfax will invest the amount through a convertible bond. FBD interim chief executive Fiona Muldoon called the investment a "significant vote of confidence" in the insurer. The Irish insurer recently posted sharp rise in losses in the first half of 2015.

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Fairfax Financial to invest $79 million in Irish insurer FBD Holdings

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