Fairfax Financial Holdings Ltd. (TSX:FFH.SV)(NYSE:FFH) announced a 29.6% second-quarter gain in operating income, which it attributed to improved underwriting results and investment income.
Operating income was $165.4 million in the quarter ended June 30, compared with $127.6 million in 2004.
Underwriting profit from ongoing insurance and reinsurance operations increased by 19.7% during the quarter to $65.7 million from $54.9 million in 2004. The combined ratio on a consolidated basis of the company's ongoing insurance and reinsurance operations for the second quarter improved to 94.1% fro...
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