Northbridge earnings jump
Trend upgraded to ‘positive’ from ‘stable’
Ratings of all outstanding public and private asset managers converted to reflect the new scale
Declines reflect increasingly competitive conditions in global insurance and reinsurance markets
Following the purchase, Fiarfax will own 84.1% of the subordinate voting shares
Underwriting results and increased investment income boost earnings
Regulator issues consumer warning
Ratings changed to “stable” from “negative”
Offering expected to raise US$300 million
Fairfax to retain majority stake