The European Bank for Reconstruction and Development (EBRD) has exited from the shareholders of Ukrainian insurance companies Universalna, ARX and ARX Life.
This is stated in the companies' notification in the information disclosure system of the National Securities and Stock Market Commission, the Ukrainian News agency reports.
The bank owned 30% of the capital in these insurance companies.
Thus, on January 22, the EBRD transferred its 30% stake in FFH Ukraine LLC, which owns three Ukrainian insurance companies, to the second co-owner, the Canadian group Fairfax Financial Holdings.
As a result of the transaction, Fairfax became the sole owner of FFH Ukraine, as well as the insurance companies Universalna, ARX and ARX Life.
As the Ukrainian News agency earlier reported, in February 2019 it became known that the AXA group (France) completed the execution of the agreement to sell its insurance companies in Ukraine.
Canadian Fairfax bought 100% of AXA Insurance and AXA Life Insurance in Ukraine.
In November 2019, FFH Ukraine Holdings acquired 99.66% of the shares of the insurance company Universalna.
Fairfax Financial Holdings Limited has been engaged in insurance, reinsurance and investment management since 1985.
Insurance companies of the Fairfax Financial Holdings Limited holding operate in a decentralized manner.
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