Financial Highlights

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 12/31/20181
Three Months
Ended 12/31/20181
Ended 12/31/2017
Three Months
Ended 12/31/2017
Gross Premiums Written $2,363.1 $558.2 $2,174.5 $548.8
Net Income (Loss) ($43.5) ($102.8) ($65.6) ($71.0)
Combined Ratio 98.3% 97.1% 99.8% 96.8%
As of 12/31/20181 As of 12/31/20171
Shareholder’s Equity $1,544.0 $1,576.1
Statutory Surplus $1,337.7 $1,300.5
1 Unaudited


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.


Investment Portfolio

Total Investments & Cash $4.1 Billion at 12/31/2018

  • High quality portfolio with ample liquidity
  • Duration of bond portfolio is 3 years (including cash, cash equivalents and short-term investments)
  • Securities rated ‘A’ or higher make up 77% of our fixed income portfolio
  • Approximately 15% of municipal bonds are insured by Berkshire Hathaway Assurance Corp.
  • No commercial paper, auction rate securities or securities lending


Financial Strength Ratings

A.M. 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 XIII. The same companies are rated “A-” (Strong) with a positive outlook by Standard & Poor’s.