07:26 AM EDT, 10/14/2025 (MT Newswires) -- Fairfax Financial ( FRFHF ) over the Canada Thanksgiving holiday weekend agreed to sell from certain of its affiliates to Eurobank Ergasias Services and Holdings or an affiliate thereof, the 80% equity interest owned by the company in the life insurance business operated by Eurolife FFH Insurance Group Holdings for cash consideration of 813 million euro (EUR).

Pursuant to the deal, Eurolife's life insurance business will be wholly-owned by Eurobank, while Fairfax will maintain its 80% equity interest in the property and casualty insurance business operated by Eurolife. Fairfax will buy from Eurobank a 45% equity interest in ERB Asfalistiki (ERBA), the company through which Eurobank's property and casualty insurance business are operated in Cyprus, for a cash consideration of EUR 59 million.

The company said it would have the right to buy the remaining 55% equity interest in ERBA over time. The proposed deals are expected to close in the first quarter of 2026.

Eurolife chief executive Alexandros Sarrigeorgiou will assume the position of executive chairman of the board of directors of Eurolife's general insurance business, and current chief financial officer of Eurolife Vassilis Nikiforakis will assume the position of managing director and chief executive officer of Eurolife's general insurance business, following the closing of the deal.

Shares of the company closed down 0.5% to $2,446.96 on the Toronto Stock Exchange Friday.