Quarterly ResultNov 3, 2026, 05:26 PM
Fairfax Q3 Earnings Down to $929.6M; To Buy IDBI Bank for $5.6B
AI Summary
Fairfax Financial Holdings Limited announced its third quarter 2026 financial results, reporting net earnings of $929.6 million, a decrease from the prior year's $1,151.7 million. The company highlighted strong performance in its property and casualty operations, with adjusted operating income of $1,375.0 million and an undiscounted combined ratio of 92.5%. Significant strategic developments include being selected as the buyer for a majority stake in India's IDBI Bank for approximately $5.6 billion, and agreements to invest in The Boots Group for approximately $8.9 billion. The company also completed several acquisitions, including Sleep Number and Andrew Peller.
Key Highlights
- Fairfax Financial Holdings reports Q3 2026 net earnings of $929.6 million ($43.32 per diluted share), down from $1,151.7 million ($52.04 per diluted share) in Q3 2025.
- Book value per basic share increased to $1,349.15 as of September 30, 2026, up from $1,260.19 at December 31, 2025.
- Property and casualty insurance and reinsurance operations generated adjusted operating income of $1,375.0 million in Q3 2026.
- Gross premiums written increased by 9.3% to $8,936.9 million in Q3 2026, while net premiums written increased by 5.4% to $6,907.0 million.
- Net losses on investments were $858.7 million in Q3 2026, primarily due to mark-to-market losses on bonds and preferred shares.
- Fairfax selected by Government of India to purchase a 60.72% interest in IDBI Bank for approximately $5.6 billion.
- Sleep Country acquired Sleep Number for $522.5 million; acquired 80.0% of Andrew Peller for $239.0 million.
- Agreements in place to acquire a stake in The Boots Group for approximately $8.9 billion, with closing expected in Q1 2027.
Price Impact
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