18:31:47 EDT Sun 28 Apr 2024
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Fairfax Financial Holdings Ltd
Symbol FFH
Shares Issued 24,231,757
Close 2024-03-08 C$ 1,465.72
Market Cap C$ 35,516,970,870
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Globe says Fairfax Financial grows in time of war

2024-03-11 07:59 ET - In the News

The Globe and Mail reports in its Saturday edition that in Ukraine, Fairfax Financial Holdings is both an agribusiness and an insurance player. The Globe's Eric Reguly writes that despite Ukraine's war with Russia, Astarta-Kyiv, Fairfax's agribusiness, is still expanding. The war has not been pleasant for Astarta's 7,000 employees, hundreds of whom have been put in uniform to fight the Russian invaders. Still, mouths have to be fed in Ukraine, and exports maintained to earn foreign currency, preserve employment and pay taxes to a government desperate for income to buy weapons. Ukraine is becoming one of the biggest producers and exporters of agricultural products. Fairfax owns 30 per cent of Astarta, which trades on the Warsaw stock exchange. The share price collapsed just ahead of Russia's unprovoked invasion but has since come back to life, giving Astarta a market value of $250-million. Fairfax bought into Astarta in 2016, when the share price was much higher. Barring Russia's unlikely takeover of the whole of Ukraine, the company's bosses think the worst is over. Fairfax is Ukraine's top property and casualty insurer. The Globe notes that Fairfax has a history of taking chances in troubled countries.

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