Fairfax Is in Some Ways More of an Investment Fund
The downturn in the equity markets pushed Fairfax to a $478 million loss in the fourth quarter. In our view, this result provides further evidence that CEO Prem Watsa’s aggressive investing approach, which is intended to be value-creative, is also risk-creative. A lack of traction on the investment side and relatively high catastrophe losses led to a disappointing year for Fairfax, and book value per share, adjusted for dividends, was down 1.5% in 2018. We will maintain our CAD 681 fair value es...Fairfax Financial Holdings is a financial services holding company. Through its subsidiaries, Co. is engaged in property and casualty insurance and reinsurance and investment management. Co.'s insurance and reinsurance companies operate on a decentralized basis, with autonomous management teams applying a focused underwriting strategy to their markets. Co.'s investments are centrally managed for all the Co.'s group of companies by Hamblin Watsa Investment Counsel Ltd. Co. operates four main operating segments: Insurance, Reinsurance, Reinsurance and Insurance - Other, and Runoff.
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