Yes. That remains very true.
Prem had appointed Paul Rivett as President. After Paul left, Peter Clarke was appointed President. Peter has been with Fairfax forever. So if something happens to Prem, Peter Clarke would take over as CEO with Andy Barnard overseeing Insurance as he does and Wade Burton leading Hamblin-Watsa. I would imagine Jean Cloutier would take over as President and COO...who has also been with Fairfax forever.
You also still have many of the old guard like Chandran overseeing India...Brian (bond guru) Bradstreet overseeing Fixed Income investments...Jennifer Allen as CFO...pretty much all of the VP's at all of the insurance subs have been in that position for 10+ years. You have Lawrence Chin backing Wade at Hamblin-Watsa and if there ever was a pinch, Francis is a phone call away!
Lastly, the board of directors retains a lot of the old guard experience like David Johnston, Timothy Price, Brandon Sweitzer, while adding newer, younger capable directors like Lauren Templeton. The Watsa Family would remain well represented with Ben and Christine on the board. I also wouldn't be surprised to see Paul Rivett back on the FFH board some time in the future, as Nordstar is now under arbitration and will be divided.
I'm far less worried about Fairfax than I would be with Berkshire. The current team under Prem has shown years of success. If something happens to Buffett, Charlie and Ajit...that's three guys that are completely irreplaceable. Prem as a leader is irreplaceable, but the investment and insurance teams at Fairfax are as capable as him. Fairfax will keep rolling as usual, just shareholder's won't have that voice and face to lean on which is mighty comforting like Buffett & Charlie.
Can someone run National Indemnity like Ajit? Can someone make acquisitions like Buffett? Maybe they will just roll all of the excess cash flow to Ted and Todd, and let the CEO's of each sub make their own acquisitions rather than leaving it to the parent company. It's simpler at Fairfax...everything flows through Andy to make insurance acquisitions or Wade to make investments. Prem and eventually Peter just gives the ok. Cheers!