FFH.U:CC - Fairfax Announces Successful Completion of Sale of Global Pet Insurance Operations to Independence Pet Group

TORONTO, Oct. 31, 2022 (GLOBE NEWSWIRE) -- Fairfax Financial Holdings Limited (“Fairfax”) (TSX: FFH and FFH.U) announces the successful completion of the previously announced sale of all of its 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, 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.

Fairfax is a holding company which, through its subsidiaries, is primarily engaged in property and casualty insurance and reinsurance and the associated investment management.