Fairfax India Holdings Corp
Fairfax India Holdings Corp
95 Wellington Street West Suite 800 Toronto, Ontario, Canada M5J 2N7
(416) 367-4755
Sector: Financial
Description
Fairfax India Holdings Corporation (TSX: FIH.U) is a Canada-based finance and investment company.
It invests in Indian debt instruments and private and public equity securities. In addition, the company also invests in various businesses, including suppliers, customers, or other entities conducting its business in India or dependent on Indian businesses.
Fairfax claims to achieve long-term capital appreciation by preserving capital through investments in India.
The Toronto-based firm was founded in 2014 by Canadian businessman V. Prem Watsa.
The India-focused company claims to leverage its permanent capital base to undertake a diversified set of transactions and creative deal structures that are highly flexible.
Fairfax Financial Holdings Limited (TSX:FFH) is a holding company and controlling shareholder of the Indian subsidiary. The financial holding entity operates worldwide with assets across insurance, reinsurance, investment, asset management.
The parent company was founded as Markel Service of Canada in 1951, which continued its operation under the Canada Business Corporations Act. Later, it was rebranded as Markel Financial Holdings Ltd.
In 1985, Watsa acquired Markel Financial, a specialist in trucking insurance. The company was rebranded to its present corporate name in May 1987.
The company provides a wide range of services such as investment management, casualty and property insurance, reinsurance, insurance and claims, etc.
Fairfax Financial Holdings Limited also operates through other subsidiaries, including FIH Mauritius Investments Limited and FIH Private Investment Ltd.
Based in Canada, Hamblin Watsa Investment Counsel Ltd (HWIC) provides advisory services and manages investments for various subsidiaries, including FIH Mauritius Investments Limited, FIH Private Investment Ltd, and Fairfax India Holding Corporation.
The sub-advisor is Fairbridge Capital Private Limited which also offers services to HWIC.
The Indian subsidiary primarily focuses on businesses and investment opportunities in India and operates through various companies listed on the Bombay Stock Exchange and National Stock Exchange of India.
All investments are mainly managed by Fairbridge Capital Private Limited and Hamblin Watsa Investment Counsel Ltd, and others.
HWIC offers administrative and investment management services to Fairfax Financial's reinsurance and insurance subsidiaries. It also provides advisory services concerning investment practices in India. It also acts as a sole advisor to the Indian subsidiary of Fairfax.
Peers
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