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.
Crum & Forster Holdings Corp.
(US$ in Millions; IFRS Basis unless otherwise noted)
Ended 12/31/2012 1
Ended 12/31/2011 1
|Gross Written Premiums||$369.1||$375.2||$1,529.7||$1,327.7|
|Net Income (Loss)||($5.9)||($130.6)||$29.3||($1.8)|
IFRS – International Financial Reporting Standards.
Shareholder's Equity – A firm’s total assets minus its total liabilities.
Gross Written Premiums – Premiums registered on the books at the time a policy is issued and paid for, on a gross basis (before deductions of costs, such as reinsurance).
Net Income – Net income (loss) 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 is calculated by dividing incurred losses plus loss adjustment expense (LAE) by earned premiums (the calendar year loss ratio); and expense ratio is calculated by dividing all other expenses by earned premiums.
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.