BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

Login Register Subscribe

Fairfax unit to buy 39% of Gulf Insurance Co.


KUWAIT CITY—Fairfax Middle East Ltd., a subsidiary of Toronto, Canada-based Fairfax Financial Holdings Ltd., has agreed to buy 39.2% of Gulf Insurance Co. from Kuwait Projects Co. for $208.6 million.

The transaction, expected to close shortly, will bring Fairfax’s stake in GIC to about 41%.

GIC writes property/casualty insurance in accordance with Islamic takaful principles across the Middle East and North Africa.

“We are very pleased to be partnering with such a highly regarded organization as KIPCO in continuing to build the leading insurer in the Middle East and North African region,” Prem Watsa, chairman and CEO of Fairfax, said in a statement.

“We look forward to working with the strong team at GIC,” he added.