Digit Insurance Acquires ITI Reinsurance
Fairfax Financial Holdings unit, Digit Insurance, has acquired privately owned reinsurer ITI Reinsurance from Fortune Financial Services, as reported by The Economic Times. The sale price is around Rs 500 crore ($72.8M) for 100% of the company, subject to IRDAI approval.
Digit insurance has applied for a reinsurance license under the name of ValueAttics, and this application is set to be withdrawn with the approval of the deal.
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