Fairfax Financial reports 4th-qtr loss on hedges

Thu Feb 13, 2014 5:56pm EST
 
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TORONTO Feb 13 (Reuters) - Fairfax Financial Corp, the Canadian property and casualty insurer run by investment guru Prem Watsa, said on Thursday it had a loss in the fourth quarter, as its equity hedges lost money in a strong market.

The Toronto-based company said it had a net loss of $5.5 million, or a loss of 98 cents a share, in the fourth quarter. That compared with a profit of $406.4 million, or $18.82 a share, a year ago.