Fairfax Financial Holdings Limited: First Quarter Financial Statements
March 15 2023 - 04:02PM
Fairfax Financial Holdings Limited (TSX: FFH and FFH.U), as
required by applicable accounting rules, on January 1, 2023 adopted
the new accounting standard for insurance contracts (“IFRS 17”)
which brings considerable changes to the recognition, measurement,
presentation and disclosure of the company’s insurance contracts.
IFRS 17 will first be presented in the company’s consolidated
financial reporting for the first quarter of 2023, which will
include as well the following comparative restated consolidated
financial information: an opening balance sheet as at January 1,
2022, a balance sheet as at December 31, 2022 and a statement of
earnings for the first quarter of 2022.
Fairfax’s first quarter of 2023 consolidated
financial statements will be released after the close of markets on
Thursday, May 11.
Fairfax is a holding company which, through its
subsidiaries, is primarily 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
Fairfax Financial (TSX:FFH)
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