Fairfax Financial Holdings Limited (Fairfax), a holding company which engages in P&C insurance and reinsurance through its subsidiaries, has today announced the successful completion of the previously announced sale of its global pet insurance operations.

Read more: Fairfax receives regulatory nod to complete key sale

The deal, which received regulatory approval in October 2022 will see the sale of all of Fairfax’s interests in the Crum & Forster Pet Insurance Group and Pethealth Inc. to Independence Pet Group and certain of its affiliates, which are majority owned by JAB Holding Company. The transaction has been completed for a purchase price of US$1.4 billion in the form of US$1.15 billion cash and US$250 million in seller notes.