Fairfax Financial Holdings Limited (TSX:FFH) is in advanced talks to buy control of P.T. Asuransi Multi Artha Guna Tbk (JKSE:AMAG) from PT Paninvest Tbk (JKSE:PNIN), people with knowledge of the matter said. The transaction would value the Jakarta-based business at about $200 million, according to the people. An agreement could be announced in the next few weeks, according to one of the people.

he deal being discussed comes with a so-called bancassurance agreement, which would allow insurance products to be distributed and sold through the branches of Paninvest's lending affiliate PT Bank Pan Indonesia Tbk (JKSE:PNBN), the people said. Fairfax President Paul Rivett and a representative for Asuransi Multi Artha Guna did not respond to queries.