Investments help Fairfax bottom line
July 30, 2010
CANADA-based insurer Fairfax Financial has reported a net gain of US$614.7m for the first half, up from $281.9m in the same period last year, on gross written premiums of $2.67bn, up from $2.65bn. Declines in premiums written at Crum & Forster and Odyssey Re were offset by gains resulting from the acquisition of Zenith National, plus currency translation gains. The improvement in the bottom line was attributable to a superior investment...