Eurobank Holdings has signed a term sheet with Fairfax pursuant to which Eurobank shall acquire 80% of the life insurance business (“Eurolife Life”) for cash consideration of €813 million. In addition to the proposed transaction, Fairfax shall procure that certain affiliates of Fairfax will acquire 45% of the share capital of ERB Asfalistiki (“ERBA”), the non-life (property and casualty) insurance company of Eurobank Limited in Cyprus, for cash consideration of €59 million.