July 31, 2009 / 1:50 PM / 9 years ago

Fairfax says happy with hedging, reserve positions

TORONTO, July 31 (Reuters) - Fairfax Financial Holdings Ltd (FFH.TO) said on Friday it is constantly considering re-hedging the company’s stock market portfolio but is happy where its investments are right now.

Speaking during a conference call the morning after Fairfax reported a surge in second-quarter profit, Chief Executive Prem Watsa said he will review the company’s reserve position at the end of the year but for now likes “where we are on reserving.”

A decision by Fairfax to bet heavily on a stock market rebound in the second quarter paid off handsomely for the Toronto-based insurance holding company. (Reporting by Andrea Hopkins; Editing by Derek Caney)

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