Fairfax Financial Holdings Ltd. reported a $108.9 million loss in the third quarter after markets closed Thursday, mostly because of hurricane-related claims. Separately, the company said it and plans to raise US$300 million in an issue of shares.

The insurance holding company said it lost US$8.08 per share, and compared with a year-earlier loss of US$10.7 million or US$1.07 a share.

Revenues rose to US$1.42 billion from US$1.18 billion.

Fairfax said it had “excellent” underwriting performance but recorded $US127.7 million in losses, after tax and minority interests, related to hurricanes Charley, Frances, Ivan and Jeanne.

The losses, primarily in the OdysseyRe and Crum & Forster subsidiaries, “have not adversely affected the capital adequacy of any of these companies and will not require the provision of any funds by the holding company,” Fairfax said in a release.

In a separate announcement, Farifax said it will issue US$300 million worth of shares to institutional investors, with US$150 million worth going to Southeastern Asset Management and US$100 million to Markel Corp.