The consolidated combined ratio of Fairfax’s P&C insurance coverage and reinsurance sections was 100.3%, a 0.8-point enhancement on the prior-year duration.
The P&C (re) insurance coverage operations produced a lower underwriting loss of $16.9 mn, compared to a loss of $46.5 mn in Q3 2021. The international insurance providers and reinsurers sector, consisting of Brit, Odyssey and Allied World, tape-recorded cat losses of $763.3 mn or 23.2 points on the combined ratio. Ian losses for the group, internet of reinstatement premiums, were $543.6 mn.
Underwriting: Brit signed up an underwriting loss of $126.8 mn for the quarter and a combined ratio of 117.4%, a 0.6-point enhancement on the prior-year duration. Leaving Out Ki, Brit’s combined ratio was 114.8% for the quarter, a 0.6-point wear and tear.
Odyssey reported a combined ratio of 107.8% for Q3, an enhancement of 1.7 points. It scheduled an underwriting loss of $117.4 mn, intensifying by 10.9% from the prior-year duration. Odyssey likewise reported cat losses of $125mn.
GWP: Brit grew gross written premium (GWP) by 16.4% to $961mn compared to the exact same quarter in 2015, while Odyssey composed $1.6 bn, up 27.4% year on year.
Group underwriting revenue: At group level, Fairfax reported a bottom line of $75.1 mn throughout Q3 compared to a $462.4 mn net revenue in the exact same duration in 2015.
