The Crum & Forster companies are wholly owned subsidiaries of Crum & Forster Holdings Corp., which is a wholly owned subsidiary of Fairfax Financial Holdings Limited (Toronto: FFH.TO).
Fairfax Financial Holdings Limited is a financial services holding company whose corporate objective is to achieve a high rate of return on invested capital and build long-term shareholder value. Click here for Fairfax’s Annual Reports.
(US$ in Millions; IFRS Basis unless otherwise noted)
Year Ended 12/31/2023 | Three Months Ended 12/31/2023 | Year Ended 12/31/2022 | Three Months Ended 12/31/2022 | |
---|---|---|---|---|
Gross Premiums Written | $5,284.7 | $1,307.9 | $4,622.8 | $1,151.7 |
IFRS 4 Net Income (Loss) | $435.4 | $167.7 | $1,075.8 | $1,036.7 |
IFRS 4 Combined Ratio | 97.7% | 95.9% | 94.5% | 94.2% |
IFRS 17 Net Income (Loss) | $440.8 | $107.5 | $1,380.5 | $1,089.4 |
IFRS 17 Combined Ratio | 88.3% | 87.2% | 86.1% | 84.7% |
As of 12/31/2023 | As of 12/31/2022 | |
---|---|---|
IFRS 4 Shareholder’s Equity | $2,927.2 | $2,539.4 |
IFRS 17 Shareholder's Equity | $3,323.7 | $2,930.5 |
Statutory Surplus | $2,282.8 | $2,045.8 |
IFRS – International Financial Reporting Standards.
Shareholder’s Equity – A firm’s total assets minus its total liabilities.
Gross Premiums Written – Premiums registered on the books at the time a policy is issued on a gross basis (before deductions of costs, such as reinsurance).
Net Income – Net (loss) income is calculated by taking revenues and adjusting for the cost of doing business, interest, taxes and other expenses.
Combined Ratio – The sum of two ratios: loss ratio and LAE ratio is calculated by dividing incurred losses plus loss adjustment expense (LAE) by premiums earned (the calendar year loss ratio); and expense ratio is calculated by dividing underwriting expenses by premiums written.
Statutory Surplus – An insurance company’s total assets minus its total liabilities, both computed under accounting principles prescribed or permitted by state insurance regulatory authorities.
AM Best | S&P | |
---|---|---|
United States Fire Insurance Company | A | A |
The North River Insurance Company | A | A |
First Mercury Insurance Company | A | A |
Crum and Forster Insurance Company | A | A |
Crum & Forster Indemnity Company | A | A |
Crum & Forster Specialty Insurance Company | A | A |
Seneca Insurance Company, Inc. | A | A |
Seneca Specialty Insurance Company | A | A |
American Underwriters Insurance Company | A | A |
United States Fire Insurance Company, The North River Insurance Company, First Mercury Insurance Company, Crum and Forster Insurance Company, Crum & Forster Indemnity Company, Crum & Forster Specialty Insurance Company, Seneca Insurance Company, Inc., Seneca Specialty Insurance Company, and American Underwriters Insurance Company are rated “A” (Excellent) with a stable outlook by A.M. Best Company and share a Financial Size Category of Class XIV. The same companies are rated “A” (Excellent) with a stable outlook by Standard & Poor’s.