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)

Year Ended


Three Months

Ended 12/31/2022

Year Ended


Three Months

Ended 12/31/2021

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
Combined Ratio94.5%94.2%95.9%87.4%
As of 12/31/2022As of 12/31/2021
Shareholder’s Equity$2,539.4$2,455.1
Statutory Surplus$2,045.8$1,853.3


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.

Total Investments & Cash $6.7 Billion at 12/31/2022

  • 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 71% of our fixed income portfolio.

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