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Fairfax Financial more than doubles first-quarter earnings at US$1.3-billion

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Chairman and CEO Prem Watsa said that significantly higher operating income from Fairfax’s property and casualty insurance and reinsurance operations reflected increased interest and dividends

says it earned US$1.3-billion in the first quarter of 2023, more than double earnings of US$588.7-million a year earlier.

The Toronto-based company, which reports in U.S. dollars, says net earnings per diluted share were US$49.38, compared with US$22.67 the same quarter a year earlier.Fairfax says gross premiums written totalled US$7.1-billion in the quarter ended March 31, up from US$6.7-billion a year earlier.

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