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International

Bermudian insurer receives anti-trust approval to buy stake in Israeli counterpart

December 18, 2017 Reprints

Israel's anti-trust commissioner has approved Bermuda-based Sirius International Insurance Group Ltd.'s acquisition of a stake in local insurer The Phoenix Holdings Ltd., Reuters reported. Sirius said that it plans to exercise its option to buy Israeli conglomerate Delek Group Ltd.'s 47% stake in Phoenix for 2.3 billion Israeli shekels ($655 million). Sirius had also bought 4.9% stake in Phoenix for ILS 208 million in September.

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Bermudian insurer receives anti-trust approval to buy stake in Israeli counterpart

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