Fairfax Financial Holdings Ltd (TSX:FFH.PR.M.PFD)
C$ 25 (0%) Market Cap: - Enterprise Value: - PE Ratio: 10.13 PB Ratio: 1.64 GF Score: 81/100
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Q4 2024 Fairfax Financial Holdings Ltd Earnings Call Transcript

Feb 14, 2025 / 01:30 PM GMT
Release Date Price: C$25.08 (+0.24%)

Key Points

Positve
  • Fairfax Financial Holdings Ltd (FAXRF.PFD) reported a strong net earnings of $3.9 billion after taxes for 2024.
  • The company achieved record underwriting income of $1.8 billion and record interest and dividend income of $2.5 billion.
  • Book value per share increased by 14.5% to $1,060, adjusted for a $15 dividend.
  • The insurance and reinsurance operations generated $32.5 billion in gross premiums, marking a 12.6% increase from 2023.
  • Fairfax's investment portfolio yielded a 6.7% return, driven by increased interest and dividend income and strong equity gains.
Negative
  • The company faced a $477 million loss in other comprehensive income due to currency losses from the strengthening US dollar.
  • Unrealized losses on the bond portfolio amounted to $731 million, primarily due to rising interest rates.
  • The Gulf insurance segment reported an elevated combined ratio of 100.9%, impacted by Dubai floods and purchase price adjustments.
  • Fairfax's runoff operations had to strengthen reserves by $221 million due to increased litigation activity.
  • The company experienced a net loss of $530 million due to interest rate increases, impacting the bond portfolio.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

FFH.TO - Fairfax Financial Holdings Ltd
Q4 2024 Fairfax Financial Holdings Ltd Earnings Call
Feb 14, 2025 / 01:30PM GMT

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Presentation
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Unidentified_1 [1]
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Welcome to Fairfax's 2024 year morning and welcome to Fairfax's 2024 year-end results conference call. Your lines have been placed in a listen-only mode. After the presentation morning and welcome to Fairfax's 2024 year-end results conference call. Your lines have been placed in a listen-only mode. After the presentation, we will conduct a question and answer session. At that time, to ask a question, please press 1 on your phone keypad. For time's sake, we ask that you please limit your questions to one. Today's conference is being recorded. If you have any objections, you may disconnect at this time. Your host for today's call is Peter Clark with opening remarks from Derek Bulli. Sir, you may begin.

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