Fairfax Financial Holdings Limited will hold a conference call at 8:30 a.m. Eastern Time on Friday, July 27, 2012 to discuss its 2012 second quarter results which will be announced after the close of markets on Thursday, July 26 and will be available at that time on its website www.fairfax.ca.
Fairfax Financial Holdings Limited announces that its RiverStone runoff subsidiary has entered into an agreement with Brit Group to purchase all the outstanding shares of Brit Insurance Limited (BIL) of London, England, which wrote UK domestic, as well as some international, insurance and reinsurance before being placed into runoff earlier this year. The transaction, which is subject to customary conditions including regulatory approval, is expected to close in the fourth quarter of 2012.
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$0.34589 per share on its Series K Preferred Shares.
Fairfax Financial Holdings Limited announced today that, through its Fairbridge Capital subsidiary, it has entered into an agreement with Thomas Cook Group plc (“Thomas Cook”) in the United Kingdom to purchase its 77% interest in Thomas Cook (India) Limited (“TC India”) at a purchase price of INR 50 per share for a total cost of INR 8,174 million (approximately US$150 million).
Fairfax Financial Holdings Limited announces a net loss of $1.3 million in the first quarter of 2012 ($0.69 net loss per diluted share) compared to a net loss of $240.6 million in the first quarter of 2011 ($12.42 net loss per diluted share), reflecting improved underwriting results (with a consolidated combined ratio below 100%) and lower investment losses, partially offset by lower interest and dividend income.
Fairfax Financial Holdings Limited will hold a conference call at 8:30 a.m. Eastern Time on Wednesday, May 2, 2012 to discuss its 2012 first quarter results which will be announced after the close of markets on Tuesday, May 1 and will be available at that time on its website www.fairfax.ca.
Fairfax Financial Holdings Limited has completed its previously announced public offering of Preferred Shares, Series K (the “Series K Shares”) in Canada. As a result of the underwriters’ exercising their option to purchase an additional 1,500,000 Series K Shares, Fairfax has issued 9,500,000 Series K Shares for gross proceeds of $237.5 million. Net proceeds of the issue, after commissions and expenses, are approximately $230 million.
Fairfax Financial Holdings Limited announced today that it will issue in Canada 8 million Preferred Shares, Series K at a price of $25.00 per share, for aggregate gross proceeds of $200 million, on a bought deal basis to a syndicate of Canadian underwriters.
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 and C$0.3125 per share on its Series I Preferred Shares. The dividends are payable on March 30, 2012 to shareholders of record on March 15, 2012.
Fairfax Financial Holdings Limited announces fiscal year 2011 net earnings of $45.1 million ($0.31 net loss per diluted share after payment of preferred share dividends) compared to $335.8 million ($14.82 per diluted share) in 2010, reflecting weaker underwriting results, primarily arising from an unprecedented severity of large catastrophe claims worldwide. Book value per share decreased to $364.55 at December 31, 2011 from $376.33 at December 31, 2010, a decrease of 0.4% (adjusted for the $10 per common share dividend paid in the first quarter of 2011).