This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Fairfax Financial earns $562.4-million (U.S.) in Q3 2009-10-29 19:29 ET - News Release Mr. Prem Watsa reports FAIRFAX FINANCIAL HOLDINGS LIMITED: THIRD QUARTER FINANCIAL RESULTS
Fairfax Financial Holdings Ltd. increased its net earnings to $562.4-million in the third quarter of 2009 ($31.04 per share and $30.88 per diluted share) compared with net earnings of $467.6-million in the third quarter of 2008 ($25.40 per share and $25.27 per diluted share). All figures are in U.S. dollars. The year-over-year increase in quarterly net earnings derived primarily from improved underwriting profit at the company's insurance and reinsurance operations (compared with a significant underwriting loss in the third quarter of 2008 principally related to hurricane losses) and increased interest and dividend income, partially offset by reduced net investment gains ($797.8-million, compared with $864.6-million of net gains on investments in the third quarter of 2008). In the first nine months of 2009, net earnings were $777.4-million ($43.66 per share and $43.42 per diluted share) compared with $1,127.0-million in the first nine months of 2008 ($60.63 per share and $59.89 per diluted share), reflecting the significant investment gains on credit default swaps and equity hedges in the first nine months of 2008.
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