Fairfax Financial

Ownership will be passed onto a charitable trust in a 100-year plan

John Varnell, the interim CFO since the sudden death of David Bonham, will return to the role of vice president of corporate development on the appointment of Jennifer Allen.

The Canadian conglomerate will buy out all of Omers minority stake in Brit.

Fairfax Financial‘s operating earnings leapt by 35.6 percent in Q2 to $17.18 per share in Q1, as all Fairfax units made an underwriting profit.

The long-time chief is replaced by Allied World president Lou Iglesias.

David Bonham joined Fairfax Financial in 2004.

The insurer also reported lower cat losses compared with a year ago.

Market sources said Bob Clarkson was sent home earlier today.

The new Cologne arm will primarily underwrite international casualty and cargo business.

The in-scope book relates to business written by former Mitsui Sumitomo Syndicate 3210.

President Paul Rivett denied deal rumours and said the firm is “done” with big acquisitions.

Fairfax sinks to fourth quarter loss on mark-to-market investment losses.