Fairfax Financial
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The Canadian insurer saw property rates dip across its global divisions. -
The Canadian conglomerate’s total cat losses in Q1 reached $781mn, including $692.1mn from the fires.
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Amy Sherk will be the CFO, while Jennifer Allen will become chief business officer.
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The company has been buying out Omers’ shares since 2015.
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The company has grown its premium base by 12% annually over the last five years.
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The company recorded an undiscounted CoR of 93.9% in Q2.
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On a discounted basis, Brit's combined ratio deteriorated by 2.1 points to 72.7%.
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Brit’s combined ratio shed 23.4 points to return to a profitable 94%.
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Earlier this week, this publication revealed that the firm parted ways with treaty VP and former TransRe executive Humberto Contasta.
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Based in Stamford, Connecticut, the executive will oversee the carrier’s cyber fac and treaty operations reporting to NA CEO Brian Quinn.
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With the deal, the Canadian conglomerate will boost its ownership interest in the Middle East carrier to 90%.
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