Earnings:
Tuesday August 8, 4:57 pm Eastern Time
Press Release
Fairfax: News Release
TORONTO, ONTARIO--
FINANCIAL RESULTS
FOR THE SIX MONTHS ENDED JUNE 30, 2000
($000)
Second Quarter Year to Date
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Latest Year Ago Latest Year Ago
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Total revenue 1,613,465 1,569,902 3,169,356 2,593,082
Net earnings 83,565 40,888 119,513 118,947
Net earnings per share $5.95 $2.82 $8.53 $9.19
Net earnings for the quarter increased 104% to $83.6 million from $40.9 million last year. Net earnings per share for the quarter increased to $5.95 per share this year from $2.82 per share last year.
The higher earnings in the second quarter were mainly due to higher realized gains. The combined ratio for the first half was 111% compared to 112% last year.
There were 13.2 million weighted average shares outstanding for the first six months of 2000 compared to 12.9 million in 1999.
Fairfax Financial Holdings Limited is a financial services holding company which, through its subsidiaries, is engaged in property, casualty and life insurance and reinsurance, investment management and insurance claims management.
FAIRFAX FINANCIAL HOLDINGS LIMITED
95 Wellington Street West, Suite 800
Toronto, Ontario M5J 2N7
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Contact:
Fairfax Financial Holdings Limited
John C. Varnell
Vice President
(416) 367-4941
(416) 367-4946 |
