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Fairfax reports $770.8-million(US) loss
Toronto Star – 3 hours ago
Canadian Press Insurance and investment giant Fairfax Financial Holdings Ltd. (TSX: FFH) lost US$770.8 million in its latest quarter, hit by claims losses and big deficits in its stock hedges.
The results for the quarter included $914.9 million in losses on investments compared with $887.9 a year ago. That was due in large part to an unrealized loss on equity hedges that Fairfax believes will eventually reverse as stock markets improve.
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