Fairfax Financial to invest $79 million in Irish insurer FBD Holdings
Posted On: Sep. 18, 2015 12:00 AM CSTCanada-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.