Fairfax Financial Holdings Ltd.

Overview

Date Founded

1951

Headquarters

95 Wellington Street West, Suite 800, Toronto, ON, M5J 2N7, CAN

Type of Company

Public

Employees (Worldwide)

44K

Industries

Reinsurance
Private Equity & Venture Capital
Other Insurance Services
Insurance Brokerage
Holding Companies
Accounting & Financial Services
Insurance: Property & Casualty

Company Description

Fairfax Financial Holdings Limited is a holding company whose corporate objective is to achieve a high rate of return on invested capital and build long term shareholder value. The company has been under present management since September 1985.

Website

http://www.fairfax.ca

In The News

Associated Press

May 27, 2020

The Toronto Star to be sold, taken private

News Bites Canadian Markets

May 26, 2020

Fairfax Financial Holdings (FFH.PR.D:CAD11.75) underperforms 85% of the market

News Bites Canadian Markets

May 25, 2020

Daily Newsletter: Insurance - property & casualty sector soars 45% Monday May 25, 2020

News Bites Canadian Markets

May 25, 2020

Fairfax Financial Holdings Limited Cumulative 5-Year Rate Reset Preferred Shares Series I (FFH.PR.I:CAD11.06) drops on high volatility

News Bites Canadian Markets

May 22, 2020

Stock Weekly: Fairfax Financial Holdings (FFH.PR.D:CAD11.88) lifts 2.4% on low volume

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Executives & Employees

Prem Watsa

Founder

Jennifer Allen

Chief Financial Officer & Vice President

Peter Clarke

Chief Operating Officer & Vice President

Ramaswamy Athappan

Chairman & Chief Executive Officer, Fairfax Asia Ltd

Brian Delisser Young

President, Odyssey Re Holdings Corp

Roger Lace

President, Hamblin Watsa Investment Counsel Ltd

Ronald Schokking

Vice President & Treasurer

Jean Cloutier

Vice President, International Operations

Eric Salsberg

Vice President, Corporate Affairs & Corporate Secretary

John C. Varnell

Vice President-Corporate Development

Board of Directors

Brandon Sweitzer

Affiliate Partner at Lindsay Goldberg, LLC

Benjamin P. Watsa

Portfolio Manager at Ontario Securities Commission

Timothy R. Price

Former President & Chief Executive Officer at HEES Enterprises, Inc.

William C. Weldon

Associate at Janssen Pharmaceuticals, Inc.

Karen Jurjevich

Member-Governors Board & Principal at Branksome Hall

Christine N. McLean

Director of Research at Sprucegrove Investment Management Ltd.

Robert J. Gunn

Former Chief Executive & Operating Officer at RSA Insurance Group Plc

R. William McFarland

Chief Executive Officer & Senior Partner at PricewaterhouseCoopers Canada

Anthony F. Griffiths

Chief Executive Officer & Director at Ventra Group, Inc.

Lauren C. Templeton

Founder at Templeton & Phillips Capital Management LLC

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Fairfax Financial Holdings Ltd.

Owners & Shareholders

Details Hidden

Findlay Park Partners LLP

FPP is a value-oriented manager which aims to generate compelling compound returns for their investor by taking less risk. Through their Findlay Park American Fund, the firm generally seeks to invest in businesses that generate strong free cash flows and management teams that are effective allocators of capital. The fund aims to achieve capital growth principally through investment in the securities of companies in the Americas. The fund seeks to achieve a return above the performance of the Russell 1000 Net 30% Total Return Index. FPP invests the fund in the following sectors: Information Technology, Financials, Health Care, Communication Services, Materials, Industrials, Consumer Discretionary, Energy, Consumer Staples, and Cash & Fixed Interest.

Details Hidden

Southeastern Asset Management, Inc.

SAM uses a value-oriented, long-term, bottom-up stock selection process. Their research team appraises businesses by studying financial statements, regulatory information, trade publications, and other industry and corporate data, and by talking with corporate management, competitors, and suppliers. They use two methods for their appraisal: (1) they seek to assess the company's liquidation value based on the current economic worth of corporate assets and liabilities; and (2) they seek to determine the company's ongoing value based on its ability to generate free cash flow after required capital expenditures and working capital needs. In selecting investments they look for companies with strong business and good people.

Details Hidden

Fiduciary Management, Inc.

Fiduciary Management, Inc. (“FMI”), founded in 1980, is an employee owned independent money management firm based in Milwaukee, Wisconsin. FMI’s equity investing strategies apply a value discipline, with a focused approach firmly rooted in fundamental research. As of 12/31/2012, FMI manages over $15.5 billion in assets for domestic and international institutions, individual investors, and Registered Investment Advisors through separately managed accounts and the FMI Family of Funds.

Recent Transactions

Details Hidden

OMERS Administration Corp., Ontario Municipal Employees Retirement System purchase RiverStone Management Ltd. from Fairfax Financial Holdings Ltd.

Details Hidden

Fairfax Financial Holdings Ltd. purchases Eagle Insurance Ltd.

Details Hidden

Fairfax Financial Holdings Ltd. purchases Universalna Insurance Co. PJSC

Transaction Advisors

Legal Advisor

Shearman & Sterling LLP

Advised onFairfax Financial Holdings Ltd., Allied World Assurance Co. Holdings AG /Private Group purchase Allied World Assurance Company Holdings AG

Legal Advisor

Torys LLP

Advised onFairfax Financial Holdings Ltd., Allied World Assurance Co. Holdings AG /Private Group purchase Allied World Assurance Company Holdings AG

Legal Advisor

AZB & Partners

Advised onBangalore International Airport Ltd. /Private Group purchases Bangalore International Airport Ltd. from Siemens Project Ventures GmbH, Bangalore Airport & Infrastructure Developers Pvt Ltd.

Legal Advisor

David A. Chaikof

Advised onFairfax Financial Holdings Ltd., Allied World Assurance Co. Holdings AG /Private Group purchase Allied World Assurance Company Holdings AG

Counsel

Thomas H. Yeo

Advised onFairfax Financial Holdings Ltd., Allied World Assurance Co. Holdings AG /Private Group purchase Allied World Assurance Company Holdings AG

Attorney

Adam M. Givertz

Advised onFairfax Financial Holdings Ltd. purchases Zenith National Insurance Corp.

Advisors & Consultants

Legal Advisor

Michael D. Bopp

Chair, Congressional Investigations Subgroup at Gibson, Dunn & Crutcher LLP

Advisor

John S. Scheid

Member at Golden Angels Investors LLC

Advisor

Adam M. Givertz

Partner at Paul, Weiss, Rifkind, Wharton & Garrison LLP

Clients

United Fire Group, Inc.

United Fire Group, Inc. is a holding company, which engages in the business of writing property, casualty insurance, life insurance, and selling annuities through a network of independent agencies. It offers insurance protection for businesses and individuals through a select group of independent insurance agents. The company was founded in January 1946 and is headquartered in Cedar Rapids, IA.

Alleghany Corp.

Alleghany Corp. engages in the provision of property, casualty reinsurance, insurance and financial services. It operates its through the Reinsurance and Insurance segments. The Reinsurance segment consists of property and casualty and other reinsurance operations. The Insurance segment consists of property and casualty insurance operations. The company was founded by Oris Paxton Van Sweringen and Mantis James Van Sweringen in 1929 and is headquartered in New York, NY.

Fairfax India Holdings Corp.

Fairfax India Holdings Corp. is an investment holding company, which through its subsidiaries, engages in property and casualty insurance and reinsurance and the associated investment management. It intends to achieve long term capital appreciation, while preserving capital, by investing in public and private equity securities and debt instruments. The company was founded by Prem Watsa on November 25, 2014 and is headquartered in Toronto, Canada.

Key Stats and Financials As of 2019

Market Capitalization

$9.93B

Total Enterprise Value

$34.7B

Earnings Per Share

$96.59

Revenue

$27.3B

Net Profit

$2.66B

Total Debt

$11.3B

Total Equity

$23.2B

Enterprise Value Sales

1.27x

TEVNet Income

13.06x

Debt TEV

0.33x

Three Year Compounded Annual Growth Rate Of Revenue

25.91%

Five Year Compounded Annual Growth Rate Of Revenue

24.02%

Non-Profit Donations & Grants

$1,000 - $4,999

2017

Multiple Sclerosis Society of Canada

$10K +

2015

Douglas College Foundation

$1,000 - $2,499

2014

Douglas College Foundation

Investments

Details Hidden

Cunningham Lindsey Group Ltd.

Cunningham Lindsey Group Ltd. provides loss adjusting and claim management services. Its services include building consulting, catastrophe response, engineering, environmental and fire, forensic advisory, general los adjusting, global specialty markets, knowledge and skills development, major and complex loss adjusting, and repair relationship and mitigations solutions. The company was founded by Manley B. Morden and Norman W. Helwig in 1929 and is headquartered in Tampa, FL.

Details Hidden

Diamond S Shipping Group, Inc.

Diamond S Shipping Group, Inc. provides seaborne transportation of refined petroleum and other products. It owns and operates medium range product tankers. The company was founded by Craig H. Stevenson, Jr. in 2007 and is headquartered in Greenwich, CT.

Details Hidden

APR Energy Ltd.

APR Energy Ltd. operates as a holding company. It engages in the sale of electricity through global deployment and installation of scalable turnkey power solutions. The firm applications include peak shaving, emergency power, distributed generation, grid stability, support, bridging power and industrial generation. The company was founded on October 30, 2009 and is headquartered in London, the United Kingdom.

Investors

Details Hidden

Brian H. McGrath

Co-Founder at Sporting Life, Inc. (Canada)

Suppliers

AIG Insurance: Property & Casualty | Atlanta, GA

American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG traces its root to 1919, when American Cornelius Vander Starr established a general insurance agency, American Asiatic Underwriters, in Shanghai, China. Since then, an enterprising spirit, ingenuity, and tenacity have built the company into one of the world’s leading insurers. Today, AIG is focused on what it has been known for since the beginning: the willingness and ability to provide insurance coverage to meet the diverse needs of its clients.

Berkshire Hathaway, Inc. Power & Utilities | Greenwich, Connecticut

Berkshire Hathaway, Inc. provides property and casualty insurance and reinsurance, utilities and energy, freight rail transportation, finance, manufacturing, retailing, and services. It operates through following segments: GEICO, Berkshire Hathaway Reinsurance Group, Berkshire Hathaway Primary Group, Burlington Northern Santa Fe, LLC (BNSF), Berkshire Hathaway Energy, McLane Company, Manufacturing, and Service and Retailing. The GEICO segments involves in underwriting private passenger automobile insurance mainly by direct response methods. The Berkshire Hathaway Reinsurance Group segment consists of underwriting excess-of-loss and quota-share and facultative reinsurance worldwide. The Berkshire Hathaway Primary Group segment comprises of underwriting multiple lines of property and casualty insurance policies for primarily commercial accounts. The BNSF segment operates railroad systems in North America. The Berkshire Hathaway Energy segments deals with regulated electric and gas utility, including power generation and distribution activities, and real estate brokerage activities. The McLane Company segment offers wholesale distribution of groceries and non-food items. The Manufacturing segment includes industrial and end-user products, building products, and apparel. The Service and Retailing segment provides fractional aircraft ownership programs, aviation pilot training, electronic components distribution, and various retailing businesses, including automobile dealerships, and trailer and furniture leasing. The company was founded by Oliver Chace in 1839 and is headquartered in Omaha, NE.

QBE Insurance Group Ltd. Other Insurance Services | Sydney, Australia

QBE Insurance Group Ltd. is a general insurance and reinsurance company. It underwrites general insurance and reinsurance risks and also provides investment management. The company was founded in 1973 and is headquartered in Sydney, Australia.

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