Fairfax diversification, rates offset heavy cat losses: CEO Watsa
Fairfax Financial CEO Prem Watsa has said that the company’s global presence and diversification efforts allowed it to book an improvement in its combined ratio, despite heavy catastrophe losses that added 10.5 points to its CoR in the quarter.
Watsa noted that favorable market conditions continue in the P&C space and “our companies continue to take advantage of that”, adding that “our decentralized approach works”.
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