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Prem Watsa: on avoiding storms

By admin - Posted on July 28th, 2008
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Prem Watsa, chair of insurance conglomerate Fairfax Financial Holdings Ltd., began to worry about a credit meltdown a few years ago. So he and his investment team devised a defensive strategy. Today, Fairfax is in great shape financially, despite lousy markets.

The company has defied gravity and two weeks ago its credit was upgraded. This reflected its stellar performance on its US$19.8-billion investment portfolio, good operations at its underlying insurance companies and a jump in shareholders' equity from US$2.856-billion in 2006 to US$4.8-billion today.

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