Fairfax Financial Holdings Limited: Financial Results For The Third Quarter
Key Highlights
- ➤IDBI Bank: Fairfax selected to acquire 60.72% stake for approximately $5.6 billion
- ➤Boots: Fairfax committed up to approximately $2.3 billion toward $8.9 billion acquisition
- ➤Q3 net earnings $929.6 million, down from $1,151.7 million year over year
- ➤Q3 underwriting profit $523.9 million; undiscounted combined ratio 92.5%
- ➤Eurolife sale completed for approximately $906 million, generating approximately $200 million pretax gain
Expert Statements
Prem Watsa, Chairman and Chief Executive Officer of Fairfax Financial Holdings Limited
“As discussed during our conference call on October 15, 2026 we are very excited to be selected by the Government of India to be the purchaser of the Government’s interest in IDBI Bank. This transaction represents a once in a lifetime opportunity to purchase a majority interest in a bank in one of the world’s fastest growing economies and combine it with a successful and growing insurance company in Digit and an established provider of investment banking and wealth management services in IIFL Capital”
(Note: All dollar amounts in this news release are expressed in U.S. dollars except as otherwise noted. The financial results are derived from unaudited interim consolidated financial statements for the three and nine months ended September 30, 2026 prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board ("IFRS Accounting Standards") applicable to the preparation of interim financial statements, including International Accounting Standard 34 Interim Financial Reporting. 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, combined ratio (both discounted and undiscounted), 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 and in the company's Interim Report for the three and nine months ended September 30, 2026 for further details.)
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