XML 171 R153.htm IDEA: XBRL DOCUMENT v3.20.4
Segmented Information - Operating Segments (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Disclosure of operating segments [line items]    
Gross premiums written $ 19,125.9 $ 17,511.2
Net premiums written 14,864.5 13,835.6
Net premiums earned 13,988.7 13,229.7
Underwriting expenses (13,887.8) (13,099.4)
Underwriting profit (loss) 100.9 130.3
Interest income 716.5 826.3
Dividends 77.8 93.7
Investment expenses (25.1) (39.8)
Interest and dividends 769.2 880.2
Share of profit (loss) of associates (112.8) 169.6
Other revenue 4,719.6 5,537.1
Expenses (4,858.9) (5,433.2)
Pre-tax income (loss) before interest expense and other (139.3) 103.9
Operating income (loss) 618.0 1,284.0
Net gains (losses) on investments 313.1 1,716.2
Gain on deconsolidation of insurance subsidiary 117.1 0.0
Loss on repurchase of borrowings 0.0 (23.7)
Interest expense (475.9) (472.0)
Corporate overhead (328.2) (271.8)
Earnings before income taxes 244.1 2,232.7
Provision for income taxes (206.7) (261.5)
Net earnings 37.4 1,971.2
Shareholders of Fairfax 218.4 2,004.1
Non-controlling interests (181.0) (32.9)
Operating companies    
Disclosure of operating segments [line items]    
Gross premiums written 19,356.8 17,201.0
Net premiums written 14,717.7 13,261.1
Net premiums earned 13,860.6 12,587.6
Underwriting expenses (13,551.6) (12,193.1)
Underwriting profit (loss) 309.0 394.5
Interest income 619.7 717.0
Dividends 55.0 70.8
Investment expenses (114.1) (130.8)
Interest and dividends 560.6 657.0
Share of profit (loss) of associates 46.2 56.0
Other revenue 0.0 0.0
Expenses 0.0 0.0
Pre-tax income (loss) before interest expense and other 0.0 0.0
Operating income (loss) 915.8 1,107.5
Net gains (losses) on investments 136.4 1,258.5
Gain on deconsolidation of insurance subsidiary (56.3)  
Loss on repurchase of borrowings   0.0
Interest expense (67.6) (69.0)
Corporate overhead (155.1) (124.7)
Earnings before income taxes 773.2 2,172.3
Other | Run-off    
Disclosure of operating segments [line items]    
Gross premiums written 146.8 609.6
Net premiums written 146.8 574.5
Net premiums earned 128.1 642.1
Underwriting expenses (336.2) (906.3)
Underwriting profit (loss) (208.1) (264.2)
Interest income 28.5 60.5
Dividends 4.9 9.5
Investment expenses (8.7) (14.2)
Interest and dividends 24.7 55.8
Share of profit (loss) of associates (11.2) (6.3)
Other revenue 0.0 0.0
Expenses 0.0 0.0
Pre-tax income (loss) before interest expense and other 0.0 0.0
Operating income (loss) (194.6) (214.7)
Net gains (losses) on investments (96.9) 168.2
Gain on deconsolidation of insurance subsidiary (9.0)  
Loss on repurchase of borrowings   0.0
Interest expense (2.3) (7.0)
Corporate overhead (0.2) 0.4
Earnings before income taxes (303.0) (53.1)
Other | Other    
Disclosure of operating segments [line items]    
Gross premiums written 0.0 0.0
Net premiums written 0.0 0.0
Net premiums earned 0.0 0.0
Underwriting expenses 0.0 0.0
Underwriting profit (loss) 0.0 0.0
Interest income 20.5 24.5
Dividends 17.2 11.8
Investment expenses 9.4 (89.0)
Interest and dividends 47.1 (52.7)
Share of profit (loss) of associates (100.2) (45.2)
Other revenue 4,742.4 5,537.1
Expenses (4,868.0) (5,441.6)
Pre-tax income (loss) before interest expense and other (125.6) 95.5
Operating income (loss) (178.7) (2.4)
Net gains (losses) on investments (65.6) 72.6
Gain on deconsolidation of insurance subsidiary 0.0  
Loss on repurchase of borrowings   0.0
Interest expense (170.6) (184.9)
Corporate overhead 0.0 0.0
Earnings before income taxes (414.9) (114.7)
Corporate and Other    
Disclosure of operating segments [line items]    
Gross premiums written 0.0 0.0
Net premiums written 0.0 0.0
Net premiums earned 0.0 0.0
Underwriting expenses 0.0 0.0
Underwriting profit (loss) 0.0 0.0
Interest income 57.1 33.7
Dividends 0.7 1.6
Investment expenses (2.0) (2.4)
Interest and dividends 55.8 32.9
Share of profit (loss) of associates (47.6) 165.1
Other revenue 0.0 0.0
Expenses 0.0 0.0
Pre-tax income (loss) before interest expense and other 0.0 0.0
Operating income (loss) 8.2 198.0
Net gains (losses) on investments 339.2 216.9
Gain on deconsolidation of insurance subsidiary 182.4  
Loss on repurchase of borrowings   (23.7)
Interest expense (235.6) (212.1)
Corporate overhead (82.6) 49.1
Earnings before income taxes 211.6 228.2
Eliminations and adjustments    
Disclosure of operating segments [line items]    
Gross premiums written (377.7) (299.4)
Net premiums written 0.0 0.0
Net premiums earned 0.0 0.0
Underwriting expenses 0.0 0.0
Underwriting profit (loss) 0.0 0.0
Interest income (9.3) (9.4)
Dividends 0.0 0.0
Investment expenses 90.3 196.6
Interest and dividends 81.0 187.2
Share of profit (loss) of associates 0.0 0.0
Other revenue (22.8) 0.0
Expenses 9.1 8.4
Pre-tax income (loss) before interest expense and other (13.7) 8.4
Operating income (loss) 67.3 195.6
Net gains (losses) on investments 0.0 0.0
Gain on deconsolidation of insurance subsidiary 0.0  
Loss on repurchase of borrowings   0.0
Interest expense 0.2 1.0
Corporate overhead (90.3) (196.6)
Earnings before income taxes (22.8) 0.0
External    
Disclosure of operating segments [line items]    
Gross premiums written 19,125.9 17,511.2
Net premiums earned 13,988.7 13,229.7
External | Operating companies    
Disclosure of operating segments [line items]    
Gross premiums written 18,979.1 16,904.8
Net premiums earned 13,859.0 12,544.7
External | Other | Run-off    
Disclosure of operating segments [line items]    
Gross premiums written 146.8 606.4
Net premiums earned 129.7 685.0
External | Other | Other    
Disclosure of operating segments [line items]    
Gross premiums written 0.0 0.0
Net premiums earned 0.0 0.0
External | Corporate and Other    
Disclosure of operating segments [line items]    
Gross premiums written 0.0 0.0
Net premiums earned 0.0 0.0
External | Eliminations and adjustments    
Disclosure of operating segments [line items]    
Gross premiums written 0.0 0.0
Net premiums earned 0.0 0.0
Intercompany    
Disclosure of operating segments [line items]    
Gross premiums written 0.0 0.0
Net premiums earned 0.0 0.0
Intercompany | Operating companies    
Disclosure of operating segments [line items]    
Gross premiums written 377.7 296.2
Net premiums earned 1.6 42.9
Intercompany | Other | Run-off    
Disclosure of operating segments [line items]    
Gross premiums written 0.0 3.2
Net premiums earned (1.6) (42.9)
Intercompany | Other | Other    
Disclosure of operating segments [line items]    
Gross premiums written 0.0 0.0
Net premiums earned 0.0 0.0
Intercompany | Corporate and Other    
Disclosure of operating segments [line items]    
Gross premiums written 0.0 0.0
Net premiums earned 0.0 0.0
Intercompany | Eliminations and adjustments    
Disclosure of operating segments [line items]    
Gross premiums written (377.7) (299.4)
Net premiums earned 0.0 0.0
Northbridge | Operating companies | Insurance and Reinsurance    
Disclosure of operating segments [line items]    
Gross premiums written 1,735.2 1,521.5
Net premiums written 1,540.4 1,350.3
Net premiums earned 1,424.1 1,240.3
Underwriting expenses (1,315.3) (1,193.6)
Underwriting profit (loss) 108.8 46.7
Interest income 59.6 65.9
Dividends 7.9 10.4
Investment expenses (11.3) (11.3)
Interest and dividends 56.2 65.0
Share of profit (loss) of associates (3.0) 1.1
Other revenue 0.0 0.0
Expenses 0.0 0.0
Pre-tax income (loss) before interest expense and other 0.0 0.0
Operating income (loss) 162.0 112.8
Net gains (losses) on investments 105.7 0.5
Gain on deconsolidation of insurance subsidiary 0.0  
Loss on repurchase of borrowings   0.0
Interest expense (1.3) (1.5)
Corporate overhead (8.1) (5.7)
Earnings before income taxes 258.3 106.1
Northbridge | External | Operating companies | Insurance and Reinsurance    
Disclosure of operating segments [line items]    
Gross premiums written 1,727.5 1,513.6
Net premiums earned 1,435.1 1,247.3
Northbridge | Intercompany | Operating companies | Insurance and Reinsurance    
Disclosure of operating segments [line items]    
Gross premiums written 7.7 7.9
Net premiums earned (11.0) (7.0)
Odyssey Group | Operating companies | Insurance and Reinsurance    
Disclosure of operating segments [line items]    
Gross premiums written 4,446.7 3,816.0
Net premiums written 3,789.6 3,393.8
Net premiums earned 3,586.6 3,179.2
Underwriting expenses (3,396.7) (3,089.3)
Underwriting profit (loss) 189.9 89.9
Interest income 173.6 189.5
Dividends 8.6 17.5
Investment expenses (31.0) (31.1)
Interest and dividends 151.2 175.9
Share of profit (loss) of associates 27.8 55.1
Other revenue 0.0 0.0
Expenses 0.0 0.0
Pre-tax income (loss) before interest expense and other 0.0 0.0
Operating income (loss) 368.9 320.9
Net gains (losses) on investments (26.9) 149.5
Gain on deconsolidation of insurance subsidiary (30.5)  
Loss on repurchase of borrowings   0.0
Interest expense (6.4) (7.8)
Corporate overhead (10.5) (10.7)
Earnings before income taxes 294.6 451.9
Odyssey Group | External | Operating companies | Insurance and Reinsurance    
Disclosure of operating segments [line items]    
Gross premiums written 4,306.3 3,742.8
Net premiums earned 3,555.8 3,162.2
Odyssey Group | Intercompany | Operating companies | Insurance and Reinsurance    
Disclosure of operating segments [line items]    
Gross premiums written 140.4 73.2
Net premiums earned 30.8 17.0
Crum & Forster | Operating companies | Insurance and Reinsurance    
Disclosure of operating segments [line items]    
Gross premiums written 3,109.4 2,827.8
Net premiums written 2,543.0 2,331.5
Net premiums earned 2,426.2 2,193.8
Underwriting expenses (2,366.1) (2,142.0)
Underwriting profit (loss) 60.1 51.8
Interest income 91.9 93.6
Dividends 2.2 7.0
Investment expenses (14.5) (14.7)
Interest and dividends 79.6 85.9
Share of profit (loss) of associates (14.8) 19.1
Other revenue 0.0 0.0
Expenses 0.0 0.0
Pre-tax income (loss) before interest expense and other 0.0 0.0
Operating income (loss) 124.9 156.8
Net gains (losses) on investments (158.2) 75.2
Gain on deconsolidation of insurance subsidiary (25.8)  
Loss on repurchase of borrowings   0.0
Interest expense (4.7) (5.3)
Corporate overhead (28.2) (20.5)
Earnings before income taxes (92.0) 206.2
Crum & Forster | External | Operating companies | Insurance and Reinsurance    
Disclosure of operating segments [line items]    
Gross premiums written 3,082.4 2,805.0
Net premiums earned 2,462.7 2,234.4
Crum & Forster | Intercompany | Operating companies | Insurance and Reinsurance    
Disclosure of operating segments [line items]    
Gross premiums written 27.0 22.8
Net premiums earned (36.5) (40.6)
Zenith National | Operating companies | Insurance and Reinsurance    
Disclosure of operating segments [line items]    
Gross premiums written 661.7 732.7
Net premiums written 646.1 720.8
Net premiums earned 643.8 735.0
Underwriting expenses (591.9) (626.2)
Underwriting profit (loss) 51.9 108.8
Interest income 24.3 36.7
Dividends 1.8 4.0
Investment expenses (7.1) (7.6)
Interest and dividends 19.0 33.1
Share of profit (loss) of associates (4.2) (16.4)
Other revenue 0.0 0.0
Expenses 0.0 0.0
Pre-tax income (loss) before interest expense and other 0.0 0.0
Operating income (loss) 66.7 125.5
Net gains (losses) on investments (59.9) 22.5
Gain on deconsolidation of insurance subsidiary 0.0  
Loss on repurchase of borrowings   0.0
Interest expense (3.8) (3.9)
Corporate overhead (9.8) (8.5)
Earnings before income taxes (6.8) 135.6
Zenith National | External | Operating companies | Insurance and Reinsurance    
Disclosure of operating segments [line items]    
Gross premiums written 661.7 732.7
Net premiums earned 646.6 737.3
Zenith National | Intercompany | Operating companies | Insurance and Reinsurance    
Disclosure of operating segments [line items]    
Gross premiums written 0.0 0.0
Net premiums earned (2.8) (2.3)
Brit | Operating companies | Insurance and Reinsurance    
Disclosure of operating segments [line items]    
Gross premiums written 2,424.4 2,293.5
Net premiums written 1,775.6 1,656.2
Net premiums earned 1,710.7 1,641.9
Underwriting expenses (1,951.0) (1,590.8)
Underwriting profit (loss) (240.3) 51.1
Interest income 67.1 82.0
Dividends 3.4 3.0
Investment expenses (12.3) (11.5)
Interest and dividends 58.2 73.5
Share of profit (loss) of associates 6.6 (2.4)
Other revenue 0.0 0.0
Expenses 0.0 0.0
Pre-tax income (loss) before interest expense and other 0.0 0.0
Operating income (loss) (175.5) 122.2
Net gains (losses) on investments 24.4 62.1
Gain on deconsolidation of insurance subsidiary 0.0  
Loss on repurchase of borrowings   0.0
Interest expense (19.0) (19.1)
Corporate overhead (11.9) (9.2)
Earnings before income taxes (182.0) 156.0
Brit | External | Operating companies | Insurance and Reinsurance    
Disclosure of operating segments [line items]    
Gross premiums written 2,407.6 2,245.4
Net premiums earned 1,710.4 1,608.1
Brit | Intercompany | Operating companies | Insurance and Reinsurance    
Disclosure of operating segments [line items]    
Gross premiums written 16.8 48.1
Net premiums earned 0.3 33.8
Allied World | Operating companies | Insurance and Reinsurance    
Disclosure of operating segments [line items]    
Gross premiums written 4,680.7 3,860.3
Net premiums written 3,017.6 2,428.9
Net premiums earned 2,722.6 2,335.4
Underwriting expenses (2,596.6) (2,277.7)
Underwriting profit (loss) 126.0 57.7
Interest income 136.5 165.6
Dividends 20.3 16.7
Investment expenses (30.1) (33.4)
Interest and dividends 126.7 148.9
Share of profit (loss) of associates 35.6 13.3
Other revenue 0.0 0.0
Expenses 0.0 0.0
Pre-tax income (loss) before interest expense and other 0.0 0.0
Operating income (loss) 288.3 219.9
Net gains (losses) on investments 246.0 210.2
Gain on deconsolidation of insurance subsidiary 0.0  
Loss on repurchase of borrowings   0.0
Interest expense (30.3) (29.1)
Corporate overhead (79.2) (59.7)
Earnings before income taxes 424.8 341.3
Allied World | External | Operating companies | Insurance and Reinsurance    
Disclosure of operating segments [line items]    
Gross premiums written 4,633.8 3,809.3
Net premiums earned 2,788.4 2,345.9
Allied World | Intercompany | Operating companies | Insurance and Reinsurance    
Disclosure of operating segments [line items]    
Gross premiums written 46.9 51.0
Net premiums earned (65.8) (10.5)
Fairfax Asia | Operating companies | Insurance and Reinsurance    
Disclosure of operating segments [line items]    
Gross premiums written 424.7 438.3
Net premiums written 221.6 231.2
Net premiums earned 221.7 215.2
Underwriting expenses (214.6) (208.8)
Underwriting profit (loss) 7.1 6.4
Interest income 14.1 16.9
Dividends 7.1 8.6
Investment expenses (1.2) (7.8)
Interest and dividends 20.0 17.7
Share of profit (loss) of associates 14.6 (0.1)
Other revenue 0.0 0.0
Expenses 0.0 0.0
Pre-tax income (loss) before interest expense and other 0.0 0.0
Operating income (loss) 41.7 24.0
Net gains (losses) on investments 12.3 632.3
Gain on deconsolidation of insurance subsidiary 0.0  
Loss on repurchase of borrowings   0.0
Interest expense (0.4) (0.4)
Corporate overhead (6.0) (9.8)
Earnings before income taxes 47.6 646.1
Fairfax Asia | External | Operating companies | Insurance and Reinsurance    
Disclosure of operating segments [line items]    
Gross premiums written 421.2 439.3
Net premiums earned 229.2 228.2
Fairfax Asia | Intercompany | Operating companies | Insurance and Reinsurance    
Disclosure of operating segments [line items]    
Gross premiums written 3.5 (1.0)
Net premiums earned (7.5) (13.0)
Other | Operating companies | Insurance and Reinsurance    
Disclosure of operating segments [line items]    
Gross premiums written 1,874.0 1,710.9
Net premiums written 1,183.8 1,148.4
Net premiums earned 1,124.9 1,046.8
Underwriting expenses (1,119.4) (1,064.7)
Underwriting profit (loss) 5.5 (17.9)
Interest income 52.6 66.8
Dividends 3.7 3.6
Investment expenses (6.6) (13.4)
Interest and dividends 49.7 57.0
Share of profit (loss) of associates (16.4) (13.7)
Other revenue 0.0 0.0
Expenses 0.0 0.0
Pre-tax income (loss) before interest expense and other 0.0 0.0
Operating income (loss) 38.8 25.4
Net gains (losses) on investments (7.0) 106.2
Gain on deconsolidation of insurance subsidiary 0.0  
Loss on repurchase of borrowings   0.0
Interest expense (1.7) (1.9)
Corporate overhead (1.4) (0.6)
Earnings before income taxes 28.7 129.1
Other | External | Operating companies | Insurance and Reinsurance    
Disclosure of operating segments [line items]    
Gross premiums written 1,738.6 1,616.7
Net premiums earned 1,030.8 981.3
Other | Intercompany | Operating companies | Insurance and Reinsurance    
Disclosure of operating segments [line items]    
Gross premiums written 135.4 94.2
Net premiums earned $ 94.1 $ 65.5