Fairfax Financial Holdings acquires general insurance business of MCIS Insurance

Overview:

• Fairfax Financial Holdings has, through its subsidiary Pacific Insurance, acquired MCIS Insurance—formerly known as MCIS Zurich Insurance—and Koperasi MCIS to own the general insurance business of MCIS, a Malaysian insurer.
• MCIS is an established life and general insurer in Malaysia with over $55 million in gross written premiums in 2013 for its general insurance business.
• The general insurance business of MCIS will integrate with Pacific Insurance and become part of the Fairfax Asia group under the leadership of Ramaswamy Athappan.
• Fairfax is a financial services holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management.
• Lee Hishammuddin Allen & Gledhill acted for the target MCIS Insurance.
• Kadir Andri & Partners acted for the seller Koperasi MCIS. 
• Skrine acted for the buyer Fairfax Financial Holdings.