Dividend Announcements - Fairfax Financial Holdings Limited has declared quarterly dividends per share on its preferred shares, with specific amounts and payment dates outlined for Series G, H, I, J, and K [1] - The dividends for Series G, H, I, J, and K are C$0.185125, C$0.33645, C$0.207938, C$0.35452, and C$0.315313 respectively, with payment dates on June 30, 2025, and June 27, 2025 [1] Floating Rate Preferred Shares - The company has determined the quarterly dividend rates for the period from June 30, 2025, to September 29, 2025, for its floating rate preferred shares [2] - Series H has a rate of 1.31169% (annualized 5.20399%) with a dividend of C$0.32792, while Series J has a rate of 1.38479% (annualized 5.49399%) with a dividend of C$0.34620 [2] Company Overview - Fairfax is primarily engaged in property and casualty insurance and reinsurance, along with associated investment management through its subsidiaries [2]

Core Viewpoint - Fairfax Financial Holdings Limited has successfully completed a private offering of US$500 million in 5.750% senior notes due 2035 and US$400 million in 6.500% senior notes due 2055, totaling US$900 million in aggregate principal amount [1]. Group 1: Offering Details - The offering consists of two types of senior notes: US$500 million at 5.750% due in 2035 and US$400 million at 6.500% due in 2055 [1]. - The offering was conducted through a private placement to qualified institutional buyers and certain non-U.S. persons, adhering to Rule 144A and Regulation S under the U.S. Securities Act [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for refinancing, repaying, or redeeming outstanding debt, equity, or other corporate obligations of Fairfax and its subsidiaries [2]. - The proceeds may also be directed towards potential acquisition or investment opportunities, including minority interests in subsidiaries, and for general corporate purposes [2]. Group 3: Company Overview - Fairfax is primarily engaged in property and casualty insurance and reinsurance, along with associated investment management through its subsidiaries [5].

Core Viewpoint - Fairfax Financial Holdings Limited has announced a private offering of senior notes totaling US$900 million, with the intention to refinance existing obligations and pursue potential acquisitions or investments [1][2]. Group 1: Offering Details - The offering includes US$500 million of senior notes due in 2035 with a fixed interest rate of 5.750% and US$400 million of senior notes due in 2055 with a fixed interest rate of 6.500% [1]. - The notes will be issued at an issue price of 99.632% for the 2035 Notes and 99.725% for the 2055 Notes [1]. Group 2: Use of Proceeds - The net proceeds from the offering will be used to refinance, repay, or redeem outstanding debt, equity, or other corporate obligations, as well as to pursue potential acquisition or investment opportunities [2]. - Specific determinations regarding which obligations will be repaid or redeemed, and the timing or method of such actions, have not yet been made [2]. Group 3: Regulatory and Closing Information - The offering will be conducted as a private placement to qualified institutional buyers and certain non-U.S. persons, and the notes have not been registered under the U.S. Securities Act [4]. - The closing of the offering is expected on or about May 20, 2025, subject to customary closing conditions [3].

Core Viewpoint - The Keg Royalties Income Fund has entered into a letter of intent for Fairfax Financial Holdings Limited to acquire all outstanding units of the Fund at a price of $18.60 per unit, representing significant premiums over recent trading prices [1][2]. Group 1: Proposed Transaction Details - The offer price of $18.60 per unit represents a 30.8% premium to the closing price on May 2, 2025, and a 34.7% premium to the 20-day volume weighted average trading price as of the same date [2]. - The transaction is not subject to any financing condition, indicating a straightforward cash offer [2]. - The letter of intent was established after negotiations between Fairfax's investment manager and the Fund's independent board of trustees, who evaluated the financial terms and received independent advice [3]. Group 2: Support and Valuation - The largest holder of outstanding units, holding 14.6% of the issued units, has agreed to support the proposed transaction under customary conditions [4]. - The trustees have engaged an independent valuator to prepare a formal valuation of the units and provide a fairness opinion regarding the transaction's financial terms for minority unit holders [5]. Group 3: Conditions and Next Steps - The letter of intent is not a definitive agreement, and the execution of a definitive agreement is subject to negotiation, approval by the trustees, and receipt of satisfactory valuation and fairness opinions [6]. - The consummation of the proposed transaction will require various customary conditions, including regulatory approvals and a special meeting of unit holders for voting [6]. - Unitholders are advised to await further information from the trustees regarding the proposed transaction [7]. Group 4: Company Background - The Keg Royalties Income Fund is a limited purpose, open-ended trust that owns trademarks and intellectual property used by Keg Restaurants Ltd., a leading operator of steakhouse restaurants in Canada with a notable presence in the U.S. [15]. - Keg Restaurants Ltd. has been recognized as the number one restaurant company to work for in Canada according to Forbes' "Canada's Best Employers 2025" survey [15].

Core Insights - Fairfax Financial Holdings Limited reported net earnings of $945.7 million in Q1 2025, an increase from $776.5 million in Q1 2024, driven by higher net gains on investments despite a decrease in adjusted operating income to $685.5 million from $977.1 million [1][2][12] - The book value per basic share rose to $1,080.38 as of March 31, 2025, reflecting a 3.5% increase from $1,059.60 at the end of 2024, adjusted for dividends [1][18] Financial Performance - The property and casualty insurance and reinsurance operations generated adjusted operating income of $685.5 million, with a consolidated combined ratio of 98.5% and an underwriting profit of $96.9 million despite catastrophe losses of $781.3 million from California wildfires [2][8][12] - Gross premiums written increased by 5.0% to $8,474.0 million, while net premiums written grew by 8.4% to $6,843.1 million, indicating strong business growth [5][22] Investment Gains - Net gains on investments totaled $1,056.1 million, primarily from common stocks ($779.5 million) and bonds ($388.4 million), reflecting favorable market conditions [3][10][12] - The fixed income portfolio remains conservatively positioned, with 70% in U.S. treasuries and government bonds, and 20% in high-quality corporate bonds [10] Cash and Liquidity - The company ended the quarter with approximately $2.1 billion in cash and marketable securities, alongside $1.7 billion in investments in associates and consolidated non-insurance companies [4][12] Segment Performance - The insurance service result for property and casualty insurance and reinsurance operations was $609.1 million, down from $1,037.5 million in 2024, primarily due to increased catastrophe losses [7][12] - The company recorded a net favorable prior year reserve development benefit of $219.1 million, compared to $29.9 million in 2024 [12][19] Shareholder Returns - The company paid a dividend of $15.00 per common share in Q1 2025, consistent with the previous year [18][20] - The total debt to total capital ratio, excluding non-insurance companies, increased to 25.3% from 24.8% at the end of 2024, reflecting short-term borrowings and preferred share redemptions [16][35]

TORONTO, April 11, 2025 (GLOBE NEWSWIRE) -- Fairfax Financial Holdings Limited (TSX: FFH and FFH.U) (“Fairfax”) is pleased to announce the results of the vote on Directors at its April 10, 2025 Annual Shareholders’ Meeting. Each of the nominee directors listed in Fairfax’s management proxy circular dated March 7, 2025 was elected as a director. The voting results for the twelve directors nominated for election are set forth in the table below: Name of NomineeVote For (Aggregate)%Vote Against(Aggregate)%Vote ...