Canada's Fairfax to buy Malaysia-based MCIS's general insurance unit
Posted On: Dec. 2, 2014 12:00 AM CSTCanada-based Fairfax Financial Holdings Ltd. has said that it would acquire the general insurance business of Malaysia's MCIS Insurance Bhd., Advisor.ca reports.
Fairfax has signed a business transfer agreement with MCIS Insurance and Koperasi MCIS Bhd. The transaction is subject to court approval and is likely to close in the first quarter of 2015. With this deal, MCIS' general insurance arm will be combined with Fairfax's subsidiary The Pacific Insurance Bhd.