Blog

By Maitane Sardon

   Fairfax Financial said it agreed to sell its 80% stake in the insurance business of Eurolife FFH Insurance Group to Eurobank Ergasias for 813 million euros ($944.7 million) in cash. 

  As part of the deal, Fairfax  will buy a 45% stake in ERB Asfalistiki--Eurobank's Cyprus-based property and casualty insurance business--for 59 million euros in cash, the Canadian insurance company said Monday. It will have the right to acquire the remaining 55% equity interest in ERBA over time, it said. 

  Following the transaction, Fairfax will keep its 80% stake in Eurolife's property and casualty insurance business, while Eurobank will fully own Eurolife's life insurance operations. 

  "We are very pleased to be able to maintain the focus of our insurance operations on property and casualty insurance and reinsurance, while still benefiting from the continued success of the Eurolife life insurance business through our ownership stake in Eurobank," Fairfax Chief executive Officer Prem Watsa said. 

  The deal is expected to close in the first quarter of 2026, Fairfax said. 

  Write to Maitane Sardon at maitane.sardon@wsj.com 

  (END) Dow Jones Newswires

  October 13, 2025 02:59 ET (06:59 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.

The key to lasting partnerships is to treat the customer’s business as if it were your own—because their success is ultimately ours too.

The integration of powerful HENSOLDT sensors – including a high-performance electro-optical system, AMPS-M and the ‘PrecISR’ radar – with the innovative ‘MissMarvin’ mission operating system will result in scalable UAV platforms that meet both military and civilian requirements.

“With AVILUS, we have an agile UAV specialist at our side who can optimally leverage our state-of-the-art sensor solutions. Together, we are focusing on technological sovereignty and short paths from development to operational readiness – for powerful and resilient UAV expertise in Germany,” says Christina Canitz, Head of Division Optronics at HENSOLDT.

“AVILUS closes specific capability gaps in casualty evacuation, logistics and reconnaissance with robust, unmanned aerial systems. The focus is on operational proximity, reliability and rapid availability. Through close cooperation with HENSOLDT, we combine our platforms with state-of-the-art sensor technology, thus creating immediate added value for forces in the field,” says AVILUS CEO Ernst Rittinghaus.

The electro-optical system enables the detection, classification and tracking of objects thanks to multispectral sensor technology and AI-supported real-time processing. It combines HD thermal imaging, colour/low-light, SWIR and wide-angle cameras for comprehensive situation assessment – all sensors are available simultaneously and can be controlled via a high-precision 4-axis gimbal.

AMPS-M combines a self-protection system with up to 16 intelligent decoy launchers and integrates various warning sensors and protective measures against missile, laser and radar threats. The platform benefits from high modularity, minimal maintenance and more than 700 systems in use worldwide with thousands of flight hours – tested in cooperation with NATO partners.

PrecISR, a software-defined X-band radar with active electronically scanned array (AESA), detects and tracks more than 1,000 objects simultaneously, including ground, sea and air targets, regardless of weather conditions and at great distances. The system is easy to integrate, ITAR-free and, thanks to its scalability, suitable for a wide range of UAV platforms.

With the Federal Aviation Authority’s approval for civil flights already granted and the ‘company owned, company operated’ operating model, the partners are addressing a wide range of application scenarios – from disaster control and critical infrastructure monitoring to national border security.

The cooperation is part of HENSOLDT’s strategy to create innovative solutions in line with ‘software-defined defence’ through targeted partnerships. Initial demonstrations and pilot projects are already in preparation. The aim is to set new standards for ISR capabilities in unmanned aviation, both nationally and internationally.