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Fairfax Financial Holdings Ltd. FFH-T 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.

Net gains on investments were US$771.2-million, compared with a loss of US$195.2-million a year ago.

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.

Net insurance revenues were US$5.2-billion, up from US$4.7-billion.

Chairman and CEO Prem Watsa said in a press release that significantly higher operating income from Fairfax’s property and casualty insurance and reinsurance operations reflected increased interest and dividends, among other positive trends.

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 06/11/24 4:00pm EST.

SymbolName% changeLast
FFH-T
Fairfax Financial Holdings Ltd
-0.67%1810.43

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