* Agrees to buy The Pacific Insurance Berhad
* Says deal set to close in Q1, 2011
Dec 3 (Reuters) - Canada's Fairfax Financial Holdings Ltd said it agreed to acquire Malaysian insurer The Pacific Insurance Berhad for about $64 million.
Toronto-based Fairfax, which deals in property and casualty insurance and reinsurance, said the deal is expected to close in the first quarter of 2011.
Kuala Lumpur-based Pacific, established in the 1950s when it was the Malaysian business arm of The Netherlands Insurance Company, provides general insurance and medical insurance in Malaysia.
Fairfax shares closed at C$399.84 on Friday on the Toronto Stock Exchange.
(Reporting by Isheeta Sanghi in Bangalore; Editing by Gopakumar Warrier) Keywords: FAIRFAX/ (isheeta.sanghi@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: isheeta.sanghi.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Says deal set to close in Q1, 2011
Dec 3 (Reuters) - Canada's Fairfax Financial Holdings Ltd said it agreed to acquire Malaysian insurer The Pacific Insurance Berhad for about $64 million.
Toronto-based Fairfax, which deals in property and casualty insurance and reinsurance, said the deal is expected to close in the first quarter of 2011.
Kuala Lumpur-based Pacific, established in the 1950s when it was the Malaysian business arm of The Netherlands Insurance Company, provides general insurance and medical insurance in Malaysia.
Fairfax shares closed at C$399.84 on Friday on the Toronto Stock Exchange.
(Reporting by Isheeta Sanghi in Bangalore; Editing by Gopakumar Warrier) Keywords: FAIRFAX/ (isheeta.sanghi@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: isheeta.sanghi.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.