Overview:
- Fairfax Financial has acquired Allied World Assurance in a $4.9 billion deal.
- Allied World is a Switzerland-based property and casualty insurance company.
- Fairfax is a Toronto based insurance group.
- The deal also included the $1 billion acquisition of 21% of Allied World by Canadian pension fund OMERS.
- Alberta Investment Management Corporation has invested $500 million together with Fairfax Financial and other co-investors in the acquiring entity.
- Allied World will be delisted from the NYSE.
- Fairfax also holds stakes in Zenith National, OdysseyRe, Northbridge, Brit and Crum & Forster.
- The group has also recently acquired various country operations from the likes of Zurich and AIG and in February 2017 acquired New Zealand insurer Tower.
- Bank of America Merrill Lynch served as exclusive financial adviser for Allied World.
Katrin Kostadinova - Data analyst