April 28, 2011 / 9:54 PM / 6 years ago

UPDATE 1-Fairfax Financial posts Q1 loss on Japan earthquake impact

* Q1 loss/shr $12.42 vs EPS $20.38 last year

* Q1 rev falls 11 pct to $1.6 bln

* Records $217.7 mln after-tax loss from Japan quake (Follows alerts)

April 28 (Reuters) - Canadian property and casualty insurer Fairfax Financial Holdings Ltd posted a quarterly net loss, hurt by the impact of the Japan earthquake.

The Toronto-based company posted a first-quarter net loss of $240.6 million, or $12.42 a share, compared with a profit of $418.4 million, or $20.38 a share, last year.

Fairfax said it recorded a $217.7 million after-tax loss net of reinsurance and reinstatement premiums from the Japan earthquake.

Revenue fell 11 percent to $1.56 billion, while net premiums earned were $1.34 billion, up from $1.06 billion, a year ago.

Book value per share slid 6 percent to $354.72 at March 31.

Fairfax’s total debt to capital ratio was 25.5 percent at the end of the quarter, compared with 23.9 percent a year earlier.

Shares of Fairfax closed at C$380.51 on Thursday on the Toronto Stock Exchange. (Reporting by Amruta Sabnis in Bangalore; Editing by Don Sebastian)

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