No. of Recommendations: 4
I worked for one of the Fairfax companies from late 17 through mid 21. Just FYI, one of the methods Prem Watsa uses to make their profitability / net income numbers better, is "ship" the toxic / money losing insurance policies to that company to get them off the books of say, a Crum-Forster. This is "runoff". The effect is similar to having an internal, internally funded hedge fund where the objective of the fund is to minimize losses (payments) by negotiating settlements with plaintiffs and reduce exposure from claims-mill law firms. I suppose most large insurers do this, but Watsa has shown mastery at large bets.
Of course, I wish I'd stayed invested in the vested shares I got because...look at a chart since late '22 (a triple).
