Canadian group Fairfax buys AIG's operations in Eastern Europe

26 October 2016 —
Canadian insurance group Fairfax will buy American group AIG's operations in Romania, Bulgaria, Czech Republic, Hungary, Poland, and Slovakia, the two groups announced on Tuesday, October 18.

The transaction is part of a wider deal in which Fairfax will also take over AIG's insurance operations in Argentina, Chile, Colombia, Uruguay, Venezuela, and Turkey. The total value of this international deal is around USD 240 million.

"The acquisition of the CEE operations follows on our recent expansion in Eastern Europe through our previously announced QBE transaction and will accelerate our plans for long-term growth in the region," said Prem Watsa, Chairman and Chief Executive Officer of Fairfax. Read the full story Canadian group Fairfax buys AIG's operations in Eastern Europe
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