Foursan exits its investment in Arab Orient Insurance Company to Strategic Buyer

Printer-friendly versionSend to friend

Foursan Group, a leading Middle Eastern private equity firm, announced today that it sold on June 3, 2008 a significant stake in Arab Orient Insurance Company, Jordan’s leading insurance company by premiums written and the only rated insurance company in Jordan (A.M. Best “B+”, very good), to Fairfax Financial Holdings Limited, which is listed on the Toronto and New York Stock Exchanges, and is a financial services holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management.

Said Nashat T. Masri, a Partner with Foursan Group: “We are very pleased with this transaction and the returns we generated for our investors. Equally importantly, we have had an excellent partnership with the company’s management team and we believe that this transaction will greatly benefit Arab Orient. Fairfax, through its subsidiaries, is a leading international insurance and reinsurance company and will bring tremendous value to the company.”

About Foursan: Foursan Group is a private equity specialist with a primary focus on the Middle East region. Foursan currently manages the Jordan Fund, a multi-sector private equity fund focused on Jordan which it launched with Deutsche Bank and which is substantially fully invested. Foursan is also in the process of launching its second fund, Foursan Capital Partners I, to invest throughout the Middle East, with a specific focus on markets that are “emerging” in the region.