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Fairfax
“We really don’t need to buy another company:” Fairfax CEO
February 21, 2018 by Greg MeckbachSeven 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…
Combined ratio deteriorates 38.9 points for Fairfax amid hurricane losses
November 3, 2017 by Canadian UnderwriterFairfax 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…
Former Governor General Johnston to help Fairfax Financial with government relations outside Canada
October 17, 2017 by Canadian UnderwriterDavid 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…
Reduction of ICICI Lombard holdings results in net gain to Fairfax of nearly US$1 billion
October 4, 2017 by Canadian UnderwriterFour 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…
A.M. Best has ‘significant concerns’ about global reinsurance industry after 2016 accident year combined ratio tops 100%
September 5, 2017 by Canadian UnderwriterThe 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,…
Fairfax completes acquisition of Allied World
July 6, 2017 by Canadian UnderwriterToronto-based Fairfax Financial Holdings Ltd. has completed its acquisition of Allied World Assurance Company Holdings AG, the firms announced Thursday. The deal was valued at nearly $5 billion when it was announced Dec. 18, 2016. All figures are in U.S.…
‘All regulatory approvals’ received for Fairfax-Allied World merger but deal still not complete
June 29, 2017 by Canadian UnderwriterToronto’s Fairfax Financial Holdings Ltd. announced Thursday it now has “all regulatory approvals that are necessary” for it to merge with Swiss insurer and reinsurer Allied World Assurance Company Holdings AG but suggested fewer than 90% of Allied World shareholders…
Fairfax-Allied merger offer expires Friday night
June 28, 2017 by Canadian UnderwriterShareholders of commercial insurer and reinsurer Allied World Assurance Company Holdings AG are being urged to accept the offer from Toronto-based Fairfax Financial Holdings Limited to buy Allied World shares because the merger agreement initially announced a week before Christmas…