Fairfax Financial Holdings Ltd (TSX:FFH) News and Share PriceFinancial
Fairfax Financial Holdings Limited is a Canadian holding company engaged in the property and casualty insurance/reinsurance industry. The company’s operations also include investment management and underwriting at a global scale.
The firm aims to expand its operations in areas where insurance penetration is relatively low and has growth potential.
The Toronto-based company claims to have market dominance in South East Asian countries.
Fairfax Financial has a presence in countries such as Eastern Europe, Brazil and Middle East. The enterprise and its international subsidiaries primarily focus on underwriting discipline.
Founder V Prem Watsa established the company in 1985. It is presently listed on the Toronto Stock Exchange with ticker symbol ‘FFH’.
Fairfax's insurance and reinsurance companies operate as decentralized units that focus on underwriting strategy in respective markets.
The diversified portfolio includes a wide range of casualty, property, insurance and reinsurance products.
The company operates under different segments, including:
• Insurance and Reinsurance: Crum & Forster, Brit Limited, Northbridge Financial, Odyssey Group
• FairFax Asia: Fairfirst Insurance, Asuransi MAG, Falcon Insurance (Hong Kong), Pacific Insurance
• Run-off: RiverStone
• Insurance and Reinsurance Associates: BIC Insurance, Eurolife FFH, Alltrust, Gulf Insurance, Falcon Insurance (Thailand), Singapore Re, Thai Re.
• Investment Management: A wholly-owned subsidiary, Hamblin Watsa Investment provides investment management services to the organization and its subsidiaries.
In its 35 years, Fairfax Financial Holdings has acquired many companies, including:
• Commonwealth Insurance
• Skandia America renamed as OdysseyRe
• Falcon Insurance in Hong Kong
• Lombard Insurance, earlier known as Continental Canada
• TIG Holdings
• First Capital Insurance in Singapore
• Pacific Insurance Berhad in Malaysia
• The Resolution Group, now renamed as TRG/RiverStone
It has also acquired interest and rights in various companies like AIG’s operations in Central and Eastern Europe (CEE) markets, Europe-based QBE Insurance’ operations, Alltrust Insurance in China etc.
The company’s said it looks forward to maximizing underwriting profits and achieve high returns on invested capital.
The Canadian company regularly posts financial highlights, investor resources and ESG reports on the official website.
95 Wellington Street West Suite 800 Toronto, Ontario, Canada M5J 2N7