OMERS to invest $1 bln in Allied World acquisition with Fairfax
The Ontario Municipal Employees Retirement System (OMERS) has agreed to invest US$1 billion in the acquisition of Swiss insurer Allied World Assurance Co Holdings AG by Fairfax Financial Holdings Ltd. Fairfax, a Canadian financial holding company, announced the proposed buy of Allied World for US$4.9 billion in December. The cash-and-stock deal is expect to close in the second quarter. OMERS' investment will give it a stake in Allied World of about 21 percent. Fairfax said it is discussing deal participation with additional third parties. Allied World is a provider of property, casualty and specialty insurance and reinsurance solutions.
27 January 2017•6 mins read
