Fairfax swings to $47mn underwriting loss in Q3 as $605mn in cat losses outweigh top-line growth
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Fairfax swings to $47mn underwriting loss in Q3 as $605mn in cat losses outweigh top-line growth

Jairo Ibarra
November 04, 2021
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Fairfax Financial Group swung to a $47mn underwriting loss during the third quarter of the year from a $52mn profit a year earlier, as $604.6mn of losses from Hurricane Ida and European floods outweighed top-line growth and lower Covid-19 losses.

Catastrophes in the period took a toll on the Canadian conglomerate’s combined ratio, which weakened to 101.1% from 98.5%

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Jairo Ibarra
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