Fairfax buys 25% stake in Thai Reinsurance Public Company Limited

[Grenville]

Thai Re agrees to sell 21% stake to Fairfax

http://www.bangkokpost.com/business/economics/275934/thai-re-agrees-to-sell-21-stake-to-fairfax

[Grenville]

Additional detail from Fairfax press release:
http://www.fairfax.ca/news/press-releases/press-release-details/2012/Fairfax-to-Purchase-Interest-in-Thai-Reinsurer1127996/default.aspx

25% stake for US $70million

[sdev]

Keep it up Prem, seeds for the next 20 years.

[king888]

Here is ThaiRe's latest investor presentation(English)

http://www.thaire.co.th/news.asp?News_ID=341

ThaiRe would go bankrupt without Fairfax capital injection due to massive loss from Thai Flood.

[Grenville]

Thanks for posting the presentation.

Any idea what types of policies are covered in their "miscellaneous" category?

[king888]

From 2010 AR .  They are Personal Accident, Health,Engineering, and Burglary . And from what I heard from thai message board. Air transport related insurance also falls into this category.
I believe PA & Health attribute to grow in this portion because Bancassurance channel that has just begun in Thailand for 4-5 years.   And Air transport should be a large part also due to low-cost airlines massive expansion .