Reinsurance News
Odyssey Group
Odyssey unveils refreshed brand identity to mark 30 years as a Fairfax company
30th March 2026
Odyssey Group has unveiled a refreshed brand identity aligning its Hudson and Newline brands with OdysseyRe and Odyssey Group, reflecting the firm's collective strength and long-standing values. Odyssey’s subsidiary brands, Hudson Insurance Group and Newline Group, have adopted the wave symbol, which the firm said has been synonymous with its brand ... Read the full article
Brian Young takes over as President of Fairfax Insurance, Carl Overy now CEO of Odyssey
3rd January 2025
Canadian financial holding company, Fairfax Financial Holdings Limited, has appointed Brian Young as President of Fairfax Insurance Group, with Carl Overy taking over as Chief Executive Officer (CEO) of Odyssey Group, effective January 1st, 2025. Young, who joined Odyssey in 1996 and served as its CEO since 2011, assumes the role ... 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
Overy to succeed Young as CEO of Odyssey Group
3rd May 2024
Odyssey Group Holdings, Inc., a global reinsurance and specialty insurance company has announced that Odyssey Reinsurance Company’s global Chief Executive Officer, Carl Overy, will succeed Brian Young as CEO of Odyssey Group effective January 1, 2025. This appointment also coincides with Young’s move to Fairfax, where he will serve as President ... 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
AM Best upgrades ratings of Odyssey Group Holdings’ subsidiaries
7th July 2023
AM Best has upgraded the credit ratings of the subsidiaries of Odyssey Group Holdings, Inc., and assigned a stable outlook. The firm’s members now have a Financial Strength Rating (FSR) of A+ (Superior) which was previously A (Excellent), and its Long-Term Issuer Credit Ratings (Long-Term ICRs) is now “aa-” (Superior), which ... Read the full article
Odyssey Group reports higher combined ratio of 96.4% for Q1 2023
12th May 2023
Odyssey Group, part of Fairfax Financial Holdings, has released its financial statements for Q1 2023, revealing a rise in its combined ratio year-on-year. The Group has reported a combined ratio of 96.4% for Q1 2023, which is higher than the Q1 2022 of 93.7%. Odyssey reported gross premiums written of $1.5 billion ... Read the full article
Odyssey’s Brian Young takes charge of re/insurance at Fairfax
21st February 2023
Fairfax Financial Holdings Limited has announced that, in connection with recent management changes at Odyssey, the CEO of Odyssey Group, Brian Young, will expand his remit to share oversight responsibilities with Andy Barnard, President of Fairfax Insurance Group, over all of Fairfax’s insurance and reinsurance operations. Odyssey has confirmed that Young ... Read the full article
Fairfax Financial sees net loss of $75.1m in Q3 2022
4th November 2022
Fairfax Financial Holdings says it saw a net loss of $75.1m in Q3 2022 against net earnings of $462.4m in the same period in 2021. However, gross written premiums for the company in Q3 2022 reached $6,922.9m, up from $5,970.0m in Q3 2021. The firm said that this was an increase ... Read the full article
17 US reinsurers wrote $22.7bn of net premiums in Q1: RAA
1st June 2022
A group of US property and casualty reinsurers wrote $22.7bn of net premiums during Q1 2022, compared to $17.8bn in the same quarter of the preceding year. These results have just been released by the Reinsurance Association of America (RAA), which surveyed seventeen property and casualty reinsurers. The combined ratio for the ... Read the full article
Fairfax reports Q3 underwriting loss but net earnings rise to $462.4mn
5th November 2021
Fairfax Financial Holdings Limited has reported an underwriting loss of $46.5 million for the third quarter of 2021, driven by the impacts of Hurricane Ida in the U.S. and the European floods in July, partially offset by lower pandemic-related losses. The consolidated combined ratio of the insurance and reinsurance businesses totalled ... Read the full article
OdysseyRe makes leadership changes as Dickson joins Hudson arm
10th March 2020
Odyssey Reinsurance Company (OdysseyRe) has named Alberto Marcano as Senior Vice President (SVP) and Chief Underwriting Officer (CUO) for Treaty in its Latin America unit, as Andrew Dickson transitions to a new role as Head of Surety for Hudson Insurance Group. Marcano brings more than three decades of insurance and reinsurance ... Read the full article
Moody’s upgrades Odyssey Re’s financial strength on positive underwriting
24th July 2019
Financial services ratings agency, Moody's, has upgraded the insurance financial strength rating of Odyssey Reinsurance Company and its subsidiaries to A2 from A3, on the back of strong underwriting results over the past few years. Moody's highlights that despite the impacts of catastrophe losses in both 2017 and 2018, the reinsurer, ... Read the full article
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