MIH had announced the acquisition of a majority interest in the BSX in November 2019. It has now acquired 100% ownership, it said in a news release, adding that the BSX will continue operations as a wholly owned subsidiary.
“We have long held that the Bermuda government’s commitment to fintech regulation and the country’s established (re)insurance market make the BSX and Bermuda key components of MIH’s global ambitions,” MIH Chairman and CEO Thomas P. Gallagher, also BSX chairman, said in a prepared statement. “We are thrilled to complete this acquisition and have the BSX as a wholly owned subsidiary.”
Financial terms of the latest deal were not disclosed.