Fairfax to acquire majority stake in Greece’s third-largest insurer

Eurolife's CEO will continue to lead the company

Fairfax will acquire an 80 percent interest in Eurolife, Greece’s third-largest insurer, from its parent company Eurobank.

Fairfax will pay 316 million euros or $481.6 million.

Eurolife provides life and non-life products as well as brokerage services in Greece and Romania.

CEO Alexander Sarrigeorgiou and his team will continue to lead Eurolife after the transaction closes.

The transaction is subject to regulatory approval and is expected to close in the third quarter of 2016.

 

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