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)
|Gross Premiums Written||$4,622.8||$1,151.7||$3,729.6||$1,023.3|
|Net Income (Loss)||$1,075.8||$1,037.7||$327.6||$70.4|
|As of 12/31/2022||As of 12/31/2021|
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.
|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.