Bulletin: Ratings Affirmed for Fairfax, Subsidiaries

June 23, 2009

A.M. Best has affirmed Fairfax Financial Holding’s Ltd’s “bbb” issuer credit and unsecured debt ratings, as well as ratings for several of its subsidiaries. The ratings agency affirmed Crum & Forster Insurance Group and Seneca Insurance Group’s financial strength rating of “A” and issuer credit rating of “a;” and also affirmed the FSR (B+) and ICR (bbb-) of TIG Insurance Group, and the FSR (B++) and ICR (bbb) of Fairmont Specialty Group. Both TIG and Fairmont are currently in run-off.

“The ratings of Fairfax recognize the quality of its on-going operations, which are well-managed, diversified and well-capitalized,” according to an A.M. Best statement.