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    Daniel Baldini • Oberon

    Daniel Baldini's questions to Fairfax Financial Holdings Ltd (FRFHF) leadership

    Daniel Baldini's questions to Fairfax Financial Holdings Ltd (FRFHF) leadership • Q1 2024

    Question

    Daniel Baldini of Oberon questioned the performance of Odyssey Group, noting its net premiums written were down despite a seemingly strong global reinsurance market, and contrasted this with a competitor's strong growth.

    Answer

    Peter Clarke, President and COO, acknowledged the reinsurance market remains strong but clarified that Odyssey's recent performance reflects its significant growth from 2019-2022, which established a higher premium base. He attributed the recent figures partly to business mix and the non-renewal of a large quota share contract, stating that excluding this item, the reinsurance business continues to grow and see opportunities.

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    Daniel Baldini's questions to Fairfax Financial Holdings Ltd (FRFHF) leadership • Q1 2024

    Question

    Daniel Baldini of Oberon noted the strong performance of competitors in the reinsurance market and questioned why Odyssey Group's net premiums written were down, asking for Odyssey's perspective on the current reinsurance market.

    Answer

    Peter Clarke, President and COO, acknowledged that the reinsurance market remains strong, though not as robust as in 2023. He attributed Odyssey's performance to its specific mix of business and its significant growth from 2019-2022, which established a higher premium base compared to some peers. He affirmed that Fairfax's reinsurance operations, including Odyssey, continue to identify and pursue growth opportunities.

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