Fairfax Financial Holdings Limited (Fairfax), a holding company which engages in P&C insurance and reinsurance through its subsidiaries, has today announced the successful completion of the previously announced sale of its global pet insurance operations.
The deal, which received regulatory approval in October 2022 will see the sale of all of Fairfax’s interests in the Crum & Forster Pet Insurance Group and Pethealth Inc. to Independence Pet Group and certain of its affiliates, which are majority owned by JAB Holding Company. The transaction has been completed for a purchase price of US$1.4 billion in the form of US$1.15 billion cash and US$250 million in seller notes.
