Fairfax Financial Holdings Limited (TSX:FFH)(TSX:FFH.U) will hold a conference call at 8:30 a.m. Eastern Time on Friday, October 26, 2012 to discuss its 2012 third quarter results which will be announced after the close of markets on Thursday, October 25 and will be available at that time on its website www.fairfax.ca.
Fairfax Financial Holdings Limited (TSX:FFH)(TSX:FFH.U) announces that the purported class action commenced in July 2011 against Fairfax and others, alleging violations of U.S. federal securities laws between May 2003 and March 2006, has been dismissed with prejudice (“with prejudice” meaning that the action cannot be revived).
Fairfax Financial Holdings Limited announces that, following receipt of all regulatory approvals, its RiverStone runoff subsidiary has completed the previously announced acquisition of all the outstanding shares of Brit Insurance Limited of London, England from Brit Group.
Fairfax Financial Holdings Limited announces that it intends to offer $200 million in aggregate principal amount of 5.84% Senior Notes due 2022.
Fairfax Financial Holdings Limited announces that Cunningham Lindsey Group Limited has entered into a merger agreement pursuant to which Fairfax will effectively sell its interest in Cunningham Lindsey for proceeds of approximately $260 million, subject to closing adjustments.
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 shares purchased will be cancelled.
Fairfax Financial Holdings Limited (“Fairfax”) (TSX:FFH)(TSX:FFH.U) announced today that it has acquired directly or through its subsidiaries 2,500,000 common shares of Imvescor Restaurant Group Inc. (TSX:IRG) (“Imvescor”) at a price of $0.85 per share, bringing its total holdings in Imvescor to 8,199,309 shares or approximately 19.5% of the total common shares outstanding.
Fairfax Financial Holdings Limited (TSX:FFH)(TSX:FFH.U) 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 announces that in continuation of its practice of encouraging management evolution in the best interests of Fairfax and its officers, effective August 1, 2012 John Varnell will become Vice President, Corporate Development, while continuing to assist as Fairfax’s liaison with the financial community.
Fairfax Financial Holdings Limited announces net earnings of $95.0 million in the second quarter of 2012 ($3.85 per diluted share) compared to net earnings of $83.3 million in the second quarter of 2011 ($3.40 per diluted share), reflecting improved underwriting results (with a consolidated combined ratio of 97.5%) and lower losses on repurchase of long term debt, partially offset by lower interest and dividend income, lower net investment gains and higher income tax expense.