Fairfax Financial Holdings Ltd. said Monday that the U.S. Securities and Exchange Commission has served it with another subpoena, seeking documents about transactions in Fairfax securities, the compensation for those sales, trading volumes and share prices.
Farifax said it is co-operating with the request.
The subpoena is part of the SEC’s wider probe into loss-mitigation products, to see whether insurance companies sold products that may not really be insurance but may be aimed at helping companies smooth out earnings.
In early September, the SEC asked Fairfax to hand over non-traditional insurance documents as part of the probe.
Toronto-based Fairfax is a financial services holding company that, through subsidiaries, is engaged in property and casualty insurance and reinsurance, investment management and insurance claims management.