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Prem is widening the investment team pool for the day when he and the old guard (Brian, Roger, Chandran, etc) aren't there anymore. As long as the new managers keep hitting average to good returns, the investment portfolio will provide reasonable gains. Cheers!

Reported earnings after the close. Another very solid quarter. $42.62 in per share earnings. 93.9% combined ratio, net written premiums up 2.8% before Gulf increase. $1033 3rd quarter end book value, up 11.7% YTD. $2 billion in cash at hold and another $2.1 billion in investments. Very strong balance sheet. FFH has now bought back 1 million shares this year at $1,112 average cost. 4.35% of the shares in 9 months. Net written premiums are now at $26 billion on a run rate basis. Run rate dividends and interest is now $50 per share. Run rate profits from affiliates is almost $25 per share. Run rate underwriting profit at 94% is $70 per share. All pre-tax #’s. Another strong performance by Prem and the team. We are currently selling for around 8 times annualized earnings and 121% of book. We likely get added to TSX 60 in next 12 months, if not in December. This is a great result and I continue to like this story very much. We are still in the early innings in my opinion. More good news to come over the next few years.

22% annualized over the last five years. Cheers!

This is a pretty interesting piece on hurricanes that occurred before recorded history and some of the ways scientists analyze their impacts. https://www.americanscientist.org/article/uncovering-prehistoric-hurricane-activity