Fairfax Financial Holdings said it will acquire the general insurance business from a Malaysian company as part of a broader expansion in Asia.

Fairfax plans to use its subsidiary The Pacific Insurance Berhad (Pacific Insurance) to buy the business line from MCIS Insurance Berhad, which was previously known as MCIS Zurich Insurance Berhad and Koperasi MCIS Berhad. Fairfax operates in the property/casualty insurance, reinsurance and investment management sectors through its subsidiaries.

Neither side is disclosing financial details, though the deal is expected to close in the 2015 first quarter, once court approval and other closing conditions can be addressed. Plans call for blending the MCIS general insurance arm with part of Pacific Insurance. This, in turn will become part of the Fairfax Asia group within the larger Fairfax operation.

MCIS has been long established as a life and general insure in Malaysia, Fairfax said, with more than $55 million in gross written premiums in 2013 for its general insurance business.

Source: Fairfax Financial Holdings