Fairfax Financial Holdings Limited announced today the results to date and the amendment of certain terms of its previously announced offer to purchase for cash outstanding notes of the series listed in the table below (collectively, the “Notes”) of Fairfax and its wholly-owned subsidiaries Odyssey Re Holdings Corp. and Crum & Forster Holdings Corp.
/wp-content/uploads/2022/08/ff_logo_blue_en.png00Jinisha Jain/wp-content/uploads/2022/08/ff_logo_blue_en.pngJinisha Jain2011-05-18 11:07:262023-05-29 11:09:30Fairfax Announces Early Results of Its Tender Offer, Early Acceptance of Certain Notes and Amendments to Its Tender Offer
Fairfax Financial Holdings Limited announced today that it has priced a private offering of US$500 million of its 5.80% Senior Notes due 2021 (the “Notes”) at an issue price of 99.646. Fairfax intends to use the net proceeds from this offering, together with cash on hand, if necessary, to refinance an aggregate of US$500 million of existing notes issued by Fairfax and its subsidiaries.
Fairfax Financial Holdings Limited announced today that it has commenced an offer to purchase for cash (the “Offer”) up to US$500 million (the “Tender Cap”) aggregate principal amount of the series of outstanding notes listed in the table below (collectively, the “Notes” and each a “Series” of Notes) of Fairfax and its wholly-owned subsidiaries Odyssey Re Holdings Corp. and Crum & Forster Holdings Corp.
/wp-content/uploads/2022/08/ff_logo_blue_en.png00Jinisha Jain/wp-content/uploads/2022/08/ff_logo_blue_en.pngJinisha Jain2011-05-04 11:46:042023-05-29 11:27:49Fairfax Announces Cash Tender Offer for Up to US$500 Million Aggregate Principal Amount of Notes
Fairfax Financial Holdings Limited announced today that it is offering US$500 million of its Senior Notes due 2021 (the “Notes”). Fairfax intends to use the net proceeds from this offering, together with cash on hand, if necessary, to refinance an aggregate of US$500 million of existing notes issued by Fairfax and its subsidiaries.
Fairfax Financial Holdings Limited announces that Mark Ram has decided to retire as the President and CEO of Fairfax’s wholly-owned Northbridge Financial Corporation subsidiary, effective May 15, 2011. Mark has been with the Fairfax organization for over twenty years and has been instrumental in its Canadian operations as the President and CEO of Northbridge and, prior thereto, as the President of Markel Insurance Company of Canada.
Fairfax Financial Holdings Limited announces a net loss of $240.6 million in the first quarter of 2011 ($12.42 per diluted share) compared to net earnings of $418.4 million in the first quarter of 2010 ($20.38 per diluted share). The decrease in earnings arose primarily from the impact of $311.3 million of pre-tax ($217.7 million after tax) Japan earthquake losses net of reinsurance and reinstatement premiums and from net investment losses of $101.5 million.
Fairfax Financial Holdings Limited will hold a conference call at 8:30 a.m. Eastern Time on Friday, April 29, 2011 to discuss its 2011 first quarter results which will be announced after the close of markets on Thursday, April 28 and will be available at that time on its website www.fairfax.ca.
Fairfax Financial Holdings Limited is pleased to announce that effective April 1, 2011 Andrew Barnard will become President and COO of Fairfax Insurance Group, to oversee all of Fairfax’s insurance and reinsurance operations worldwide and to work with the presidents of those operations on strategy and coordination.
Fairfax Financial Holdings Limited announces fiscal year 2010 net earnings of $469.0 million ($21.31 per diluted share) compared to $856.8 million ($43.75 per diluted share) in 2009, reflecting lower net gains on investments and weaker underwriting results, partially offset by a corporate income tax recovery for 2010.
/wp-content/uploads/2022/08/ff_logo_blue_en.png00Jinisha Jain/wp-content/uploads/2022/08/ff_logo_blue_en.pngJinisha Jain2011-02-17 13:13:422023-05-29 13:16:13Fairfax Financial Holdings Limited: Financial Results for the Year Ended December 31, 2010
Fairfax Launches $400 Million Senior Notes Offering
Fairfax Financial Holdings Limited announces that it intends to offer $400 million in aggregate principal amount of 6.40% Senior Notes due 2021.
Fairfax Announces Early Results of Its Tender Offer, Early Acceptance of Certain Notes and Amendments to Its Tender Offer
Fairfax Financial Holdings Limited announced today the results to date and the amendment of certain terms of its previously announced offer to purchase for cash outstanding notes of the series listed in the table below (collectively, the “Notes”) of Fairfax and its wholly-owned subsidiaries Odyssey Re Holdings Corp. and Crum & Forster Holdings Corp.
Fairfax Announces Pricing of Private Offering of Senior Notes
Fairfax Financial Holdings Limited announced today that it has priced a private offering of US$500 million of its 5.80% Senior Notes due 2021 (the “Notes”) at an issue price of 99.646. Fairfax intends to use the net proceeds from this offering, together with cash on hand, if necessary, to refinance an aggregate of US$500 million of existing notes issued by Fairfax and its subsidiaries.
Fairfax Announces Cash Tender Offer for Up to US$500 Million Aggregate Principal Amount of Notes
Fairfax Financial Holdings Limited announced today that it has commenced an offer to purchase for cash (the “Offer”) up to US$500 million (the “Tender Cap”) aggregate principal amount of the series of outstanding notes listed in the table below (collectively, the “Notes” and each a “Series” of Notes) of Fairfax and its wholly-owned subsidiaries Odyssey Re Holdings Corp. and Crum & Forster Holdings Corp.
Fairfax Announces Private Offering of Senior Notes
Fairfax Financial Holdings Limited announced today that it is offering US$500 million of its Senior Notes due 2021 (the “Notes”). Fairfax intends to use the net proceeds from this offering, together with cash on hand, if necessary, to refinance an aggregate of US$500 million of existing notes issued by Fairfax and its subsidiaries.
Northbridge Executive Changes
Fairfax Financial Holdings Limited announces that Mark Ram has decided to retire as the President and CEO of Fairfax’s wholly-owned Northbridge Financial Corporation subsidiary, effective May 15, 2011. Mark has been with the Fairfax organization for over twenty years and has been instrumental in its Canadian operations as the President and CEO of Northbridge and, prior thereto, as the President of Markel Insurance Company of Canada.
First Quarter Financial Results
Fairfax Financial Holdings Limited announces a net loss of $240.6 million in the first quarter of 2011 ($12.42 per diluted share) compared to net earnings of $418.4 million in the first quarter of 2010 ($20.38 per diluted share). The decrease in earnings arose primarily from the impact of $311.3 million of pre-tax ($217.7 million after tax) Japan earthquake losses net of reinsurance and reinstatement premiums and from net investment losses of $101.5 million.
Fairfax Announces Conference Call
Fairfax Financial Holdings Limited will hold a conference call at 8:30 a.m. Eastern Time on Friday, April 29, 2011 to discuss its 2011 first quarter results which will be announced after the close of markets on Thursday, April 28 and will be available at that time on its website www.fairfax.ca.
Personnel Announcements
Fairfax Financial Holdings Limited is pleased to announce that effective April 1, 2011 Andrew Barnard will become President and COO of Fairfax Insurance Group, to oversee all of Fairfax’s insurance and reinsurance operations worldwide and to work with the presidents of those operations on strategy and coordination.
Fairfax Financial Holdings Limited: Financial Results for the Year Ended December 31, 2010
Fairfax Financial Holdings Limited announces fiscal year 2010 net earnings of $469.0 million ($21.31 per diluted share) compared to $856.8 million ($43.75 per diluted share) in 2009, reflecting lower net gains on investments and weaker underwriting results, partially offset by a corporate income tax recovery for 2010.