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 03/31/20221Three Months Ended 03/31/20211Year Ended 12/31/2021
Gross Premiums Written $1,045.8$804.5 $3,729.6
Net Income (Loss)$6.8$92.2 $327.6
Combined Ratio94.8%99.3%95.9%
As of 03/31/20221As of 03/31/20211As of 12/31/2021
Shareholder’s Equity$2,359.5$2,206.3$2,455.1
Statutory Surplus$1,787.7$1,730.2$1,853.3

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.

Total Investments & Cash $5.7 Billion at 03/31/2022

  • 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 68% 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 AM Best Company and share a Financial Size Category of Class XIV. The same companies are rated “A-” (Strong) with a Positive outlook by Standard & Poor’s.