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News AppointmentsInsurance

Fairfax chief financial officer died suddenly

May 21, 2019 by Greg Meckbach

David Bonham, chief financial officer of Fairfax Financial Holdings Ltd., died suddenly this past weekend, the Toronto-based company announced Tuesday. Fairfax is the corporate owner of Northbridge Insurance and several international property and casualty insurers, including OdysseyRe, Brit PLC, Allied

News Earnings / RatingsInsurance

How Fairfax’s Allied World acquisition is working out

May 10, 2019 by Greg Meckbach

Old medical malpractice claims with Allied World Assurance Company are still affecting the bottom line of Canada’s Fairfax Financial Holdings Ltd., which bought the majority of Allied World nearly two years ago. With a combined ratio of 102.3%, Zug, Switzerland-based

News InsuranceMergers and Aqcuisitions

Where Fairfax is going with future acquisitions

February 19, 2019 by Greg Meckbach

While Fairfax Financial Holdings Ltd. is not ruling out the possibility of buying small specialty insurance players, don’t expect the firm to buy any big insurers any time soon. Toronto-based Fairfax, whose holdings include Northbridge Insurance, bought the majority of

News InsuranceMergers and Aqcuisitions

What’s next for Fairfax in the Lloyd’s market

November 2, 2018 by Greg Meckbach

Toronto-based Fairfax Financial Holdings Ltd. plans to buy the remainder of Lloyd’s insurer Brit PLC within the next couple of years, Fairfax president Paul Rivett said Friday. Toronto-based Northbridge Insurance and Stamford, Conn.-based OdysseyRe are among the insurance subsidiaries owned

News InsuranceMarkets / Coverages

What Fairfax’s CEO is saying about interest rates

May 19, 2018 by Greg Meckbach

As Canadian insurers struggle with auto claims and weather-related losses, relief may be in sight in the form of interest rate increases. “We think interest rates will go up over time because the economy of the U.S. is doing very

News CatastrophesClaimsInsurance

No hard market despite 2017 hurricane losses: Fairfax

May 17, 2018 by Greg Meckbach

Despite nearly US$100 billion in hurricane losses in 2017, insurance buyers are not experiencing a hard market like they did after the 2001 terror attacks that brought the World Trade Centre down, the head of Fairfax Financial Holdings Ltd. suggests.

News Earnings / RatingsInsurance

Intact, Fairfax discuss impact of interest rate hike on income

February 27, 2018 by Greg Meckbach

With interest rates at historic lows, Canadian property and casualty insurers rely more on underwriting profits to keep profitable than they have in the past. What difference would a rate hike make to insurers? A one percentage point rise in

News InsuranceMergers and Aqcuisitions

“We really don’t need to buy another company:” Fairfax CEO

February 21, 2018 by Greg Meckbach

Seven months after buying the majority of Allied World Assurance Company Holdings AG, Toronto-based Fairfax Financial Holdings Ltd. does not have any immediate plans to buy more insurance companies for the time being. “We really don’t need to buy another

News Earnings / RatingsInsurance

Combined ratio deteriorates 38.9 points for Fairfax amid hurricane losses

November 3, 2017 by Canadian Underwriter

Fairfax Financial Holdings Ltd. has reported an underwriting loss of $833 million during the three months ending September 30, with its insurers’ share of losses from three recent hurricanes and an earthquake in Mexico amounting to $960 million. All figures

News AppointmentsInsurance

Former Governor General Johnston to help Fairfax Financial with government relations outside Canada

October 17, 2017 by Canadian Underwriter

David Johnston, until recently Governor General of Canada, has been hired by Fairfax Financial Holdings Ltd., the Toronto-based corporate parent of several property and casualty insurers, as a global advisor, Fairfax said Tuesday. Johnston was replaced Oct. 2 as Governor

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Reduction of ICICI Lombard holdings results in net gain to Fairfax of nearly US$1 billion

October 4, 2017 by Canadian Underwriter

Four months after it announced the sale of about an eighth of a Mumbai-based general insurer, Toronto’s Fairfax Financial Holdings Ltd. said it has raised gross proceeds of US$548 million by selling another 12% of ICICI Lombard General Insurance Company

News CatastrophesEarnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

A.M. Best has ‘significant concerns’ about global reinsurance industry after 2016 accident year combined ratio tops 100%

September 5, 2017 by Canadian Underwriter

The global reinsurance market is “far from thriving” and while the Lloyd’s market “maintains an excellent business profile,” its accident year combined ratio in reinsurance exceeded 100, A.M. Best Company Inc. said in a report released Tuesday. Each September, Oldwick,