Fairfax announces acquisition of Omers investment in Brit

Fairfax Financial Holdings has increased its ownership interest in Brit to 100% from 86.2% by acquiring the interest of OMERS, the pension plan for Ontario’s municipal employees, for cash consideration of approximately $383 million.

Brit is a global specialty insurer and reinsurer.

In 2023, it reported $3.75 billion in written premiums and profit after tax of $895.4 million.