Fairfax Financial

The company's global insurers and reinsurers segment combined ratio improved 1.3 points to 94% in the second quarter.

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The transaction, set to close in H2, involves a partnership that will see Fairfax invest $200mn in Jab’s consumer investment fund.

The ratings agency also raised Fairfax Financial Holdings long-term issuer credit rating to BBB from BBB- and said the outlook on all entities remained stable.

He will focus on expanding HudsonPro’s offerings in the ancillary sector and build a new platform to address the unique needs of small healthcare businesses.

Peter Clarke, who is also a member of Fairfax’s executive and investment committees, will continue in his role as COO.

CEO Prem Watsa also said his company would prioritize using its capital to grow its P&C business to seize on firm market conditions.

The company's margins improved during Q4 with its combined ratio decreasing to 88.1% from 95.5%, thanks mostly to better margins at Brit, Crum & Forster and Allied World.

Fairfax completed the sale of a $900mn stake in Odyssey Group to CPPIB and Omers earlier this month.

A total of 2 million shares will be bought back by Fairfax at a price of $500 per share, the top end of the forecast range.

The arrangement allows Brit to reduce exposure to US casualty claims inflation.

Fairfax has entered into an agreement with the Canada Pension Plan Investment Board (CPPIB) and the Ontario Municipal Employees Retirement System (Omers), where each of them will acquire a 4.995% stake in Odyssey Group for an aggregate cash consideration of $900mn.