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)

Three Months
Ended 03/31/2024
Three Months
Ended 03/31/2023
Year Ended
Gross Premiums Written$1,312.9$1,175.3$5,284.7
IFRS 4 Net Income (Loss)$89.0$165.3$435.4
IFRS 4 Combined Ratio95.9%94.7%97.7%
IFRS 17 Net Income (Loss)$134.1$210.0$440.8
IFRS 17 Combined Ratio84.6%83.0%88.3%
As of 03/31/2024As of 03/31/2023As of 12/31/2023
IFRS 4 Shareholder’s Equity$3,000.7$2,647.3$2,927.2
IFRS 17 Shareholder's Equity$3,442.3$3,083.1$3,323.7
Statutory Surplus$2,383.4$2,006.8$2,281.9


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 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 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.

Total Investments & Cash $6.9 Billion at 9/30/2023

  • High quality portfolio with ample liquidity.
  • Duration of bond portfolio is approximately 4 years.

Financial Strength Ratings

AM BestS&P
United States Fire Insurance CompanyAA
The North River Insurance CompanyAA
First Mercury Insurance CompanyAA
Crum and Forster Insurance CompanyAA
Crum & Forster Indemnity CompanyAA
Crum & Forster Specialty Insurance CompanyAA
Seneca Insurance Company, Inc.AA
Seneca Specialty Insurance CompanyAA
American Underwriters Insurance CompanyAA

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 XV. The same companies are rated “A” (Excellent) with a stable outlook by Standard & Poor’s.