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 3/31/2025 | Three Months Ended 3/31/2024 | Year Ended 12/31/2024 | |
|---|---|---|---|
| Gross Premiums Written | $1,489.6 | $1,312.9 | $5,692.6 |
| IFRS 4 Net Income (Loss) | $286.8 | $89.0 | $458.5 |
| IFRS 4 Combined Ratio | 95.4% | 95.9% | 95.0% |
| IFRS 17 Net Income (Loss) | $273.6 | $134.1 | $518.5 |
| IFRS 17 Combined Ratio | 85.0% | 84.6% | 85.9% |
| As of 3/31/2025 | As of 3/31/2024 | As of 12/31/2024 | |
|---|---|---|---|
| IFRS 4 Shareholder’s Equity | $3,463.6 | $3,000.7 | $3,294.7 |
| IFRS 17 Shareholder's Equity | $3,906.9 | $3,442.3 | $3,751.2 |
| Statutory Surplus | $2,776.8 | $2,383.4 | $2,696.6 |
Definitions
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 $8.7 Billion at 12/31/2024
- High quality portfolio with ample liquidity.
- Duration of bond portfolio is approximately 4 years.
Financial Strength Ratings
| AM Best | S&P | |
|---|---|---|
| United States Fire Insurance Company | A | AA- |
| The North River Insurance Company | A | AA- |
| First Mercury Insurance Company | A | AA- |
| Crum and Forster Insurance Company | A | AA- |
| Crum & Forster Indemnity Company | A | AA- |
| Crum & Forster Specialty Insurance Company | A | AA- |
| Seneca Insurance Company, Inc. | A | AA- |
| Seneca Specialty Insurance Company | A | AA- |
| American Underwriters Insurance Company | A | AA- |
| Monitor Life Insurance Company of New York | A | N/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 XV. The same companies are rated “AA-” by Standard & Poor’s. Monitor Life Insurance Company is rated A (Excellent) with a stable outlook by A.M. Best Company and has a Financial Size Category of VIII.
