Fairfax posts underwriting loss of over $46 million

Canada-based Fairfax Financial Holdings Ltd. recorded an underwriting loss of $46.5 million in the third quarter of the year, driven by losses related to the summer floods in Europe and Hurricane Ida in the U.S., Reinsurance News reported. Fairfax’s reinsurance and insurance operations reported almost 25% year-on-year increase in gross written premiums to $5.9 billion.