Fairfax Holdings reconsiders its expansion plan in South Africa

Fairfax Holding has revalued the funds allocated to its expansion in Africa at 500 million USD. The Canadian group has also announced that the development scheme of its South African subsidiary, initially acquired from insurer Zurich, has been put off by 12 months.

Purchased in 2016, Zurich Assurance has been renamed Byrte. The transformations envisioned in the transition plan include the underwriting of new insurance classes of business. Byrte is also represented in Botswana.

In addition to its financial activities, Fairfax has published its 42.5% shareholding in AFGRI, a South African agro-industrial company.

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