Fairfax Announces Repayment of GFIC Loan Note
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TORONTO, ONTARIO, Oct 18 (MARKET WIRE) -- (Note: All dollar amounts in this press release are expressed in US dollars.) Fairfax Financial Holdings Limited (TSX:FFH)(TSX:FFH.U) announces that TIG Insurance Company, a runoff subsidiary of Fairfax, has today agreed with the holder of the loan note issued by TIG in connection with its acquisition of General Fidelity Insurance Company in February 2011 to pay $200 million in full and final satisfaction of that loan note. It is expected that that payment will be made on or before November 9, 2012. Fairfax is a financial services holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management. Contacts: Fairfax Financial Holdings Limited John Varnell Vice President, Corporate Development (416) 367-4941 Media Contact Fairfax Financial Holdings Limited Paul Rivett Vice President, Operations (416) 367-4941 Copyright 2012, Market Wire, All rights reserved. -0-