Fairfax Financial Divests 80% in Eurolife Life Insurance for €813 Million

Fairfax Financial is selling its 80% stake in Eurolifes life insurance operations to Eurobank Ergasias for €813 million, marking a significant shift in ownership.

Fairfax Financial will divest its 80% stake in Eurolifes life insurance operations to Eurobank Ergasias for a total of €813 million.
Following the transaction, Eurobank Ergasias will become the sole owner of Eurolifes life insurance business, enhancing its market position.
Despite this sale, Fairfax Financial will retain its 80% ownership stake in Eurolifes property and casualty insurance operations based in Fairfax, Virginia.

Why It Matters

This transaction highlights ongoing consolidation in the insurance sector, reflecting Eurobank Ergasiass strategic growth initiatives and Fairfax Financials focus on its remaining operations in property and casualty insurance.