-- Fairfax Financial Holdings (FFH.TO) reported lower first quarter net earnings on Thursday after trade.
The company said net earnings fell to US$695.7 million, or US$31.11 per diluted share, compared with a year-prior profit of US$945.7 million, or US$42.70. Fairfax reported net losses on investments of US$385.9 million, compared with a gain of US$1.05 billion last year.
Adjusted operating income of US$1.21 billion, compares with the US$685.5 million in the year-prior quarter. Fairfax credited the improvement to better underwriting performance, increased share of profit of associates and increased interest and dividend income.
Fairfax shares closed up $4.26 to $2,350.67 on the Toronto Stock Exchange.