May 1, 2008 / 9:10 PM / 10 years ago

Fairfax Financial profit surges on investment gains

(Figures in U.S. dollars)

TORONTO, May 1 (Reuters) - Fairfax Financial Holdings FFH.TO said its first-quarter profit jumped six-fold, as the insurance holding company continued to benefit from gains on credit default swaps in its investment portfolio.

Fairfax said net income in the three months ended March 31 was $631.8 million, or $33.78 a diluted share. That was up from $110.9 million, or $5.88 a share, a year earlier. (Reporting by Lynne Olver; editing by Rob Wilson)

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