Business
Fairfax Financial Holdings Limited: Financial Results for the Year Ended December 31, 2024
( Note : All dollar amounts in this news release are expressed in U.S...
About this update from Fairfax Financial Holdings Limited
[{"type":"text","content":"Fairfax Financial Holdings Limited: Financial Results for the Year Ended December 31, 2024\n\n\n\n\n\n (\n \n\n\n\n\n Note\n \n\n\n\n\n :\n \n\n\n\n All dollar amounts in this news release are expressed in U.S. dollars except as otherwise noted. The financial results are derived from unaudited consolidated financial statements prepared using the recognition and measurement requirements of International Financial Reporting Standards as issued by the International Accounting Standards Board (\"IFRS Accounting Standards\"). This news release contains certain non-GAAP and other financial measures, including underwriting profit (loss), adjusted operating income (loss), gross premiums written, net premiums written,\n \n\n\n\n com\n \n\n\n\n bined ratio (both discounted and undiscounted), float,\n \n\n\n\n book value per basic share, total debt to total capital ratio excluding non-insurance companies and excess (deficiency) of fair value over carrying value, that do not have a prescribed meaning under IFRS Accounting Standards and may not be comparable to similar financial measures presented by other issuers. See \"Glossary of non-GAAP and other financial measures\" at the end of this news release for further details.)\n \n\n\n\n TORONTO, Feb. 13, 2025 (GLOBE NEWSWIRE) -- Fairfax Financial Holdings Limited (TSX: FFH and FFH.U) announces 2024 fiscal year net earnings of $3,874.9 million ($160.56 net earnings per diluted share after payment of preferred share dividends) compared to fiscal year 2023 net earnings of $4,381.8 million ($173.24 net earnings per diluted share after payment of preferred share dividends). Book value per basic share at December 31, 2024 was $1,059.60 compared to $939.65 at December 31, 2023 (an increase of 14.5% adjusted for the $15 per common share dividend paid in the first quarter of 2024).\n \n\n \"2024 produced record underwriting profit of $1.8 billion and a consolidated combined ratio of 92.7%. Our property and casualty insurance and reinsurance operations achieved record adjusted operating income of $4.8 billion and operating income of $6.5 billion including the benefit of discounting, net of a risk adjustment on claims, reflecting strong underwriting performance and interest and dividends, and continued favourable results from share of profit of associates. Gross premiums written grew by 12.6% ...