On Aug. 26, 2003, Standard & Poor's Ratings Services revised its outlook on Fairfax Financial Holdings Ltd. (NYSE:FFH) and related entities (see list) to stable from negative. At the same time, Standard & Poor's affirmed its ratings on these companies. These actions are based on Standard & Poor's ongoing surveillance of the organization's liquidity management, underwriting results, and reserve adequacy. The decision to revise the outlook to stable was primarily driven by Fairfax's management's ability to adequately address Standard & Poor's previous concerns about liquidity. In the second quarter of 2003, Fairfax raised about C$643 million of proceeds from the IPO of its majority-owned subsidiary, Northbridge Financial Corp., and the issuance of debt from its wholly owned subsidiary, Crum &...
Action: Outlook Revised
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Product Type: Research Update
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- Fairfax Financial Holdings Ltd.
- United States Fire Insurance Company
- Fairmont Premier Insurance Co.
- The North River Insurance Company
- TIG Insurance Co.
- TIG American Specialty Insurance Co.
- TIG Insurance Co. of CO
- Fairmont Insurance Co.
- TIG Insurance Co. of MI
- TIG Insurance Corp. of America
- TIG Specialty Insurance Co.
- TIG Indemnity Co.
- TIG Insurance Co. of NY
- TIG Insurance Co. of TX
- Crum and Forster Insurance Company
- Crum & Forster Underwriters Co. of Ohio
- Premier Insurance Co.
- TIG Holdings Inc.
- Northbridge Indemnity Insurance Corp.
- Northbridge General Insurance Corp.
- Northbridge Commercial Insurance Corp.
- Federated Insurance Co. of Canada
- Crum & Forster Holdings Corp.