Thrifty3000 Posted February 16 Share Posted February 16 Raised the earnings guidance floor from $100 per share to $125 per share, excluding investment gains, for the next few years. (Prem said “of course there are no guarantees.”) Link to comment Share on other sites More sharing options...
Gamecock-YT Posted February 16 Share Posted February 16 the call dropped Link to comment Share on other sites More sharing options...
gfp Posted February 16 Share Posted February 16 Just now, Gamecock-YT said: the call dropped It's back now Link to comment Share on other sites More sharing options...
ValueMaven Posted February 16 Share Posted February 16 Please keep the live updates for those of us who cant dial in!! -VM Link to comment Share on other sites More sharing options...
gfp Posted February 16 Share Posted February 16 The call is still in the prepared remarks, just wrapping them up now. Jen Allen speaking Link to comment Share on other sites More sharing options...
Spooky Posted February 16 Share Posted February 16 Prem strongly refuting the MW report. Link to comment Share on other sites More sharing options...
gfp Posted February 16 Share Posted February 16 Jen Allen is now going through the allegations in the report by grouping them into 4 categories. Started with Digit valuation and now going through valuations of associates like Recipe. Link to comment Share on other sites More sharing options...
juniorr Posted February 16 Share Posted February 16 it will be interesting if MW joins and asks a question lol Link to comment Share on other sites More sharing options...
Gamecock-YT Posted February 16 Share Posted February 16 CFO really leaning on their auditors to carry a lot of these answers Link to comment Share on other sites More sharing options...
Daphne Posted February 16 Share Posted February 16 Rightly so…third party endorsements Link to comment Share on other sites More sharing options...
newtovalue Posted February 16 Share Posted February 16 Jen Allen giving a MasterClass in Insurance accounting. "If you come for the king - you best not miss" 1 Link to comment Share on other sites More sharing options...
gfp Posted February 16 Share Posted February 16 Q&A now Odyssey re quota share non-renewal question - $340m unearned premium returned to client - residential property quota share (was 2 year deal, didn't see the profits there). Odyssey non-renewed it and returned the unearned premium. Brit pullback on D&O, Cyber and Cat risk question where do you see best opportunities, where do you see other areas where you want to be cautious Pricing on reinsurance, mostly still seeing double digit price increases on the property side. Insurance - mid-single digit price increases. D&O and cyber price growth slowing and actually reducing Link to comment Share on other sites More sharing options...
gfp Posted February 16 Share Posted February 16 Carson Block question! Link to comment Share on other sites More sharing options...
juniorr Posted February 16 Share Posted February 16 1 minute ago, gfp said: Carson Block question! he seems worried on his short position Link to comment Share on other sites More sharing options...
gfp Posted February 16 Share Posted February 16 Disclosure regarding associates that have been on the balance sheet since Jan. 1 2020. Cash in / cash out / profits booked / contingent liabilities question. Will you be disclosing these transactions? Jen Allen taking the question. "disclosed under IFRS in our annual report" Block, "Rather than going for the bare minimum that IFRS requires, why not go for enhanced disclosure. Why leave it there?" Next question please Link to comment Share on other sites More sharing options...
Parsad Posted February 16 Share Posted February 16 12 minutes ago, Gamecock-YT said: CFO really leaning on their auditors to carry a lot of these answers When you look at adjustments, discounts, calculating fair value, taxation related issues, attributed income classifications, etc...it's the auditors that make these calculations or at the very least review them and confirm them. Cheers! Link to comment Share on other sites More sharing options...
Parsad Posted February 16 Share Posted February 16 Just now, gfp said: Disclosure regarding associates that have been on the balance sheet since Jan. 1 2020. Cash in / cash out / profits booked / contingent liabilities question. Will you be disclosing these transactions? Jen Allen taking the question. "disclosed under IFRS in our annual report" Block, "Rather than going for the bare minimum that IFRS requires, why not go for enhanced disclosure. Why leave it there?" Next question please Is this guy a moron or what? Now he's not disputing accurate disclosure, but why doesn't Fairfax provide enhanced disclosure above and beyond what is required! Cheers! Link to comment Share on other sites More sharing options...
gary17 Posted February 16 Share Posted February 16 1 minute ago, gfp said: Disclosure regarding associates that have been on the balance sheet since Jan. 1 2020. Cash in / cash out / profits booked / contingent liabilities question. Will you be disclosing these transactions? Jen Allen taking the question. "disclosed under IFRS in our annual report" Block, "Rather than going for the bare minimum that IFRS requires, why not go for enhanced disclosure. Why leave it there?" Next question please It's too early for popcorn. Link to comment Share on other sites More sharing options...
Daphne Posted February 16 Share Posted February 16 1 minute ago, gfp said: Disclosure regarding associates that have been on the balance sheet since Jan. 1 2020. Cash in / cash out / profits booked / contingent liabilities question. Will you be disclosing these transactions? Jen Allen taking the question. "disclosed under IFRS in our annual report" Block, "Rather than going for the bare minimum that IFRS requires, why not go for enhanced disclosure. Why leave it there?" Next question please Asked and answered dirtbag..next! Link to comment Share on other sites More sharing options...
Parsad Posted February 16 Share Posted February 16 I'm not sure the fireworks are going to happen...they kind of fizzled from MW's perspective. Cheers! Link to comment Share on other sites More sharing options...
gfp Posted February 16 Share Posted February 16 Interest & Dividend income "locked" at approx. $2 Billion annually for approx. 4 years. If soft landing, we can renew at these rates. If hard landing, interest rates can go down, but the spread on corporate bonds can increase. Atlas forecast - $300 million going to $600 million by 2025 and Fairfax still sees that forecast as appropriate. Link to comment Share on other sites More sharing options...
Gamecock-YT Posted February 16 Share Posted February 16 (edited) 4 minutes ago, Parsad said: When you look at adjustments, discounts, calculating fair value, taxation related issues, attributed income classifications, etc...it's the auditors that make these calculations or at the very least review them and confirm them. Cheers! it's just an observation, i'm intimately familiar with what an auditor does Edited February 16 by Gamecock-YT Link to comment Share on other sites More sharing options...
Parsad Posted February 16 Share Posted February 16 Stock is up $4.40 so far in Toronto. Cheers! Link to comment Share on other sites More sharing options...
gfp Posted February 16 Share Posted February 16 Long history of reserve redundancies. Question was about reserve releases. Over time our reserve releases could well be significant. 4th quarter gets more "full" reviews for reserve releases / adjustments. 2016 and 2018 years at Allied and Crum & Forstner have had some unfavorable development similar to the industry experience at large. That effect is overwhelmed by positive adjustments elsewhere and for other years. Link to comment Share on other sites More sharing options...
gfp Posted February 16 Share Posted February 16 Call over Link to comment Share on other sites More sharing options...
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