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(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, 2024 prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board ("IFRS ...
In May 1987, Watsa re-organized Markel Financial Holdings Limited and renamed it Fairfax Financial Holdings Limited (FAIRFAX: short for "fair, friendly acquisitions"). From 1985 to the end of 2010, the firm had a compound growth rate of approximately 25% in book value per share (per year), it is about 243 times what Fairfax began with in 1985 ...
Fairfax Financial has collected nearly $31 million in a suit over a stock manipulation scheme, after a jury entered a $10.9 million verdict against hedge fund Exis Capital Managment and two of its ...
On May 1, 2017, Markel Corp. acquired SureTec Financial Corp., one of the largest privately owned surety companies in the US. On July 26, 2017, Markel Corp. announced their plans to acquire majority interest in Costa Farms and their related operating companies. Costa Farms is the largest producer of ornamental plants in the world. [33]
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Watsa resigned in August 2013, but kept his investment in the company. On 23 September 2013, BlackBerry announced that it had signed a letter of intent to be acquired by Fairfax Financial Holdings in a $4.7 billion deal. [14] Fairfax Financial Holdings is "the largest insurer of the for-profit bail industry in the U.S." [15]
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In 2010, Fairfax Financial agreed to buy Zenith in a deal that valued the company at around $1.3 billion US. [2] [6] The deal was negotiated by Fairfax CEO Prem Watsa. [4] A group of Zenith shareholders sought to prevent the sale by going to court, but a court dismissed their claims on April 22, 2010. [4]