Fairfax Commits US$5 Million (INR 37 Crore) to Provide COVID-19 Pandemic Relief in India
April 28 2021 - 07:49AM
Fairfax Financial Holdings Limited (“Fairfax”) (TSX: FFH and FFH.U)
announces, together with the Fairfax India Charitable Trust and
Fairfax India Holdings Corporation, a commitment of US$5 million
(approximately INR 37 crore) to fund initiatives to assist India
with the recent surge in COVID-19 cases and the urgent needs
created thereby.
The first proposed initiative is to coordinate
with our investee companies, Quess Corp Limited and Bangalore
International Airport Limited, to work with the local government to
rapidly create emergency hospital facilities using the expertise of
Dexterra Group, a Fairfax investee company in Canada.
Fairfax is working with its Indian investee
companies to determine further initiatives. In addition to these
initiatives, in line with Fairfax’s culture, we will commit the
funds necessary to respond to the needs of the employees of our
Indian investee companies during the COVID-19 pandemic.
Prem Watsa, Chairman and Chief Executive Officer
of Fairfax, commented, “We are saddened by the current crisis in
India resulting from the COVID-19 pandemic. Fairfax wishes to
assist India in traversing this incredibly difficult time and are
hopeful that our commitment will provide some relief to India and
its health-care system.”
Fairfax is a holding company which, through its
subsidiaries, is engaged in property and casualty insurance and
reinsurance and the associated investment management.
For further information contact: John Varnell,
Vice President, Corporate Development at (416) 367-4941
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