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Fairfax Financial Holdings Ltd Shs Subord.Vtg FFH

Rating as of

Morningstar’s Analysis

Valuation
Currency in CAD
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Better Pricing and a Bull Equity Market Propel Fairfax in Second Quarter

Brett Horn, CFA Senior Equity Analyst

Analyst Note

| Brett Horn, CFA |

Fairfax delivered a strong second quarter, as better insurance market pricing buoyed its underwriting results, and a bull equity market propelled its investment results. Adjusted for dividends, book value per share was up 15% from year-end, as the company continues to bounce back from a volatile 2020. We will maintain our CAD 569 fair value estimate and no-moat rating.

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Company Profile

Business Description

Fairfax Financial offers reinsurance and property and casualty insurance in Canada, the United States, and other international markets. About 25% of premiums come from reinsurance activities, and almost 30% of premiums are generated from outside Canada and the U.S. The company also has some noninsurance operations such as restaurants. Fairfax has been led by Prem Watsa, its chairman and CEO, since its formation in 1985.

Contact
95 Wellington Street West, Suite 800
Toronto, ON, M5J 2N7, Canada
T +1 416 367-4941
Sector Financial Services
Industry Insurance - Property & Casualty
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type
Employees 41,044