Fairfax Announces Loss Estimates For Hurricane Katrina.TORONTO -- (Note: All dollar amounts in this press release are expressed in U.S. dollars.)
Fairfax Financial Holdings Fairfax Financial Holdings Limited TSX: FFH.SV NYSE: FFH is a Toronto, Ontario based financial services holding company which, through its subsidiaries, is engaged in property, casualty and life insurance and reinsurance, investment management and insurance claims Limited (TSX TSX Toronto Stock Exchange (TSE before April, 2002)
TSX Transfer from Stack Pointer to Index
TSX True Space Extension :FFH FFH Far From Home (band)
FFH Fast Frequency Hopping
FFH Frigate Helicopter
FFH Final Fantasy High (gaming)
FFH Fauji Foundation Hospital (Pakistan)
FFH Falling for Her .SV)(NYSE NYSE
See: New York Stock Exchange :FFH) announces that its initial estimate of aggregate potential net losses relating to relating to relate prep → concernant
relating to relate prep → bezüglich +gen, mit Bezug auf +acc Hurricane Katrina is in the range of $175 million to $220 million before tax and minority interests, or approximately $108 million to $134 million after tax and minority interests. The estimated hurricane losses are recorded within Fairfax's insurance and reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. companies as follows:
Before Tax and After Tax and Minority Interests Minority Interests ------------------ ------------------ ($ millions) OdysseyRe $ 80 - 100 $ 42 - 52 Crum & Forster 35 - 40 23 - 26 Group Re 40 - 50 35 - 44 Northbridge 20 - 30 8 - 12 ----------- ----------- $ 175 - 220 $ 108 - 134
These estimates are based on a preliminary review and on an estimated total insured loss from Hurricane Katrina of $30 billion. Fairfax recognizes that at this early stage it is not possible to make a calculation of its financial exposure to claims relating to Hurricane Katrina with a high degree of certainty.
Fairfax Financial Holdings Limited is a financial services holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance, investment management and insurance claims management.
Fairfax Financial Holdings Limited (TSX:FFH.SV) (NYSE:FFH)