Fairfax Financial Holdings Limited (TSX: FFH and FFH.U) (“Fairfax”) announces the successful completion today of its acquisition of American Safety Insurance Holdings, Ltd. (“American Safety”) (NYSE: ASI). Trading of American Safety shares is being suspended on October 3, 2013 and American Safety common shares will be delisted from the New York Stock Exchange in connection with the acquisition.
Fairfax Financial Holdings Limited announces that it intends to make a Normal Course Issuer Bid, subject to regulatory approval, for up to 800,000 of its subordinate voting shares through the facilities of the Toronto Stock Exchange (the “TSX”). Purchases will be made in accordance with the rules and policies of the TSX and subordinate voting shares purchased will be cancelled.
Fairfax Financial Holdings Limited announces that it has declared a quarterly dividend of C$0.359375 per share on its Series C Preferred Shares, C$0.296875 per share on its Series E Preferred Shares, C$0.3125 per share on its Series G Preferred Shares, C$0.3125 per share on its Series I Preferred Shares and C$0.3125 per share on its Series K Preferred Shares.
Fairfax Financial Holdings Limited today announced an agreement with Tower Group International, Ltd. (Tower) and Catalina Holdings (Bermuda) Ltd. (Catalina) in connection with Fairfax’s previously announced merger agreement with American Safety Insurance Holdings, Inc. (NYSE:ASI), pursuant to which Fairfax agrees to sell American Safety’s Bermuda subsidiary, American Safety Reinsurance, Ltd. (AS Re), to Catalina promptly upon acquiring American Safety.
Fairfax Financial Holdings Limited announces a net loss of $157.8 million in the second quarter of 2013 ($8.55 net loss per diluted share after payment of preferred share dividends) compared to net earnings of $93.7 million in the second quarter of 2012 ($3.79 net earnings per diluted share after payment of preferred share dividends), primarily reflecting unrealized losses on its bond portfolio, partially offset by strong underwriting results.
Fairfax Financial Holdings Limited will hold a conference call at 8:30 a.m. Eastern Time on Friday, August 2, 2013 to discuss its 2013 second quarter results which will be announced after the close of markets on Thursday, August 1 and will be available at that time on its website www.fairfax.ca.
Fairfax Financial Holdings Limited is pleased to announce that Paul Rivett has been appointed President of Fairfax.
Fairfax Financial Holdings Limited announces the completion of the previously announced agreement with Hartville Group, Inc. of Canton, Ohio, as a result of which Hartville has become a wholly-owned subsidiary of Crum & Forster’s United States Fire Insurance Company, joining the Accident & Health division of Crum & Forster’s Fairmont Specialty operation.
Fairfax Financial Holdings Limited and American Safety Insurance Holdings, Ltd. (NYSE:ASI) today announced that Fairfax and American Safety have entered into a merger agreement pursuant to which Fairfax will acquire all of the outstanding shares of American Safety common stock. American Safety stockholders will receive $29.25 per share in cash, representing an aggregate transaction value of approximately $306 million.
Fairfax Financial Holdings Limited announces that it has declared a quarterly dividend of C$0.359375 per share on its Series C Preferred Shares, C$0.296875 per share on its Series E Preferred Shares, C$0.3125 per share on its Series G Preferred Shares, C$0.3125 per share on its Series I Preferred Shares and C$0.3125 per share on its Series K Preferred Shares.