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International

Fairfax Financial to acquire 80% stake in Indonesian insurer

June 29, 2016 Reprints

Canada-based Fairfax Financial Holdings Ltd. has signed an agreement to acquire 80% stake in Indonesian insurer PT Asuransi Multi Artha Guna Tbk, reported Asia Insurance Review.

Fairfax would purchase the stake from PT Paninvest Tbk and its affiliates.

The deal is subject to regulatory approvals.

It is expected to close by the end of the fourth quarter of 2016. Upon completion of the deal, PT Asuransi Multi Artha Guna will integrate with PT Fairfax Insurance Indonesia and become part of the Fairfax Asia group.

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Fairfax Financial to acquire 80% stake in Indonesian insurer

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