Staff
The Ontario Municipal Employees Retirement System will invest US$1 billion to indirectly acquire about 21 per cent of the issued and outstanding shares of Allied World Assurance Co. Holdings.
The investment is in addition to the previously announced acquisition of Allied World by Fairfax Financial Holdings Ltd.
“Allied World is a market leading global property, casualty and specialty insurer and reinsurer, and is highly complementary to Fairfax’s existing worldwide operations,” said Sharon Ludlow, head of insurance investments at OMERS.
“OMERS’ investment in Allied World is consistent with our strategy to invest in high-quality companies, with strong fundamentals and a track record of value creation.”