Reinsurance News
Fairfax Financial
Record underwriting profit in 2025 drives best ever year for Fairfax Financial
20th February 2026
Fairfax Financial has revealed that all of its major insurance and reinsurance segments achieved combined ratios below 100% in 2025 for a consolidated combined ratio of 93% and record underwriting profit of $1.8 billion. Prem Watsa, Chairman and Chief Executive Officer of Fairfax, hailed 2025 as the strongest year in the ... Read the full article
S&P lifts ratings on Fairfax’s core re/insurance subsidiaries
20th June 2025
S&P Global Ratings has raised its long-term issuer credit and financial strength ratings on Fairfax Financial's core re/insurance operating subsidiaries, which include Odyssey Re and Allied World, to 'AA-' from 'A+'. The rating agency has additionally raised its long-term issuer credit rating on Fairfax to 'A-' from 'BBB+', and assigned a ... Read the full article
Fairfax sees record underwriting profit of $1.8bn in 2024
14th February 2025
Fairfax Financial Holdings' consolidated undiscounted combined ratio for its property and casualty insurance and reinsurance operations improved to 92.7% in 2024, resulting in a record underwriting profit of $1.79 billion, despite absorbing higher catastrophe losses of $1.01 billion. This compares to an undiscounted combined ratio of 93.2% and an underwriting profit ... Read the full article
Fairfax posts solid rise in GPW in Q3’24
1st November 2024
In their financial results for the third quarter of 2024, Fairfax Financial Holdings has reported net earnings attributable to shareholders of $1,030.8 million, which compares to the $1,068.9 million seen in the third quarter of 2023. According to Fairfax, this figure primarily reflects increased adjusted operating income of $1,136.8 million and ... Read the full article
Fairfax sees net earnings and GWP increase in Q2 2024
2nd August 2024
Fairfax Financial Holdings Limited has announced its financial results for the second quarter of 2024, reporting net earnings attributable to shareholders of $915.4 million, which compares to the $734.4 million seen in the second quarter of 2023. This increase, according to Fairfax, primarily reflects increased adjusted operating income of $1,119.4 million ... Read the full article
AM Best revises Fairfax’s outlooks to positive on improved earnings
10th May 2024
AM Best has revised the outlooks to positive for Fairfax Financial Holdings, its subsidiaries, and Allied World, reflecting the improved earnings profile of the consolidated group. The rating agency noted that Fairfax deployed significant cash into highly rated fixed income instruments as interest rates increased in 2022, which resulted in dividend ... Read the full article
Fairfax Financial’s Q1 net earnings hit $776.5m driven by strong P&C operations
3rd May 2024
Fairfax Financial Holdings has revealed that its property and casualty insurance and reinsurance operations produced an adjusted operating income of $977.1 million in Q1 of 2024, up from $843 million in the opening quarter of 2023. As per Fairfax, this operating income increase largely contributed to its Q1 2024 net earnings ... Read the full article
Fairfax Financial sees net earnings increase in 2023 to $4.4bn
16th February 2024
Fairfax Financial Holdings Limited has announced its financial results for the fiscal year 2023 net earnings of $4,381.8 million, compared with fiscal year 2022 net earnings of $3,374.2 million. In Q4, the net earnings were $1,328.5 million, compared to $2,318.1 million in Q4'22. The consolidated combined ratio of the property and casualty ... Read the full article
Fairfax declares Muddy Waters accusations as ‘false and misleading’
12th February 2024
Fairfax Financial Holdings Limited has further denied recent allegations made in the Muddy Waters report regarding the firm having manipulated its valuation and income by engaging in certain transactions. In its announcement, the Canadian financial holding company stated that its management team “has reviewed all the 72 pages of the Muddy ... Read the full article
Fairfax responds to Muddy Waters accusations over its valuation
8th February 2024
Canadian financial holding company, Fairfax Financial Holdings Limited, has refuted claims in a recent report from Muddy Waters that the firm has "consistently manipulated asset values and income" by engaging in certain transactions, including those with insurance entities. Short-seller Muddy Waters released a report earlier today confirming it is short on ... Read the full article
Fairfax completes acquisition of additional 46.32% interest in Gulf Insurance
27th December 2023
Fairfax Financial Holdings has completed its acquisition of all of the shares of Gulf Insurance Group (GIG) under the control of Kuwait Projects Company (Holding), bringing Fairfax’s equity interest in GIG from 43.69% to 90.01%. The acquisition was first reported back in April when Fairfax revealed it would be buying ... Read the full article
Fairfax’s Q3 net earnings expand to $1.07 billion
3rd November 2023
Fairfax Financial Holdings has reported that it achieved net earnings of $1.07 billion in Q3 of 2023, up from $499.4 million in Q3 of 2022. The firm's Q3 adjusted operating income stood at $967.2 million, which Fairfax said reflects its strong core underwriting performance, increased interest and dividends and favourable results ... Read the full article
Fairfax Financial sees net earnings increase in Q2 2023 with improved CR
4th August 2023
Fairfax Financial Holdings Limited has announced its financial results for the second quarter of 2023 reporting net earnings of $734.4 million, compared to a net loss of $32.0 million in the second quarter of 2022. "During the second quarter we continued to build on our great start to 2023, with our ... Read the full article
AM Best upgrades ratings of FairFax Financial & Allied World
8th May 2023
Global rating agency AM Best has upgraded Long-Term Issuer Credit Rating (Long- Term ICR) to “bbb+” (Good) from “bbb” (Good) and the Long-Term Issue Credit Ratings (Long-Term IR) on the unsecured debt and preferred equity of Fairfax Financial Holdings Limited (Fairfax) (Toronto, Canada). At the same time, Best has also upgraded ... Read the full article
FairFax set to acquire additional 46% stake in Gulf Insurance Group
20th April 2023
Fairfax Financial Holdings Limited has announced that it has reached a deal to more than double its stake in Gulf Insurance Group (GIG) K.S.C.P. from buying an additional roughly 46% interest from Kuwait Projects Co.(Holding) K.S.C.P. for about $860 million. When the transaction closes, Fairfax's equity interest in GIG will increase ... Read the full article
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