Fairfax Financial to acquire Allied World for US$4.9 billion
Source: Asia Insurance Review | Feb 2017
Toronto-based Fairfax Financial Holdings Limited has agreed to buy Allied World Insurance Company, AG, for US$4.9 billion in cash and stock.
The merger would create a leader in property and casualty insurance, reinsurance and investments, the press release said. Boards of directors of both companies have approved the deal.
Mr Prem Watsa, Chairman and CEO of Fairfax, said that Allied World would operate within the Fairfax group “on a decentralised basis”.
The transaction is expected to close in the second quarter of 2017, subject to customary approvals and closing conditions.