Fairfax Financial profit falls on higher catastrophe losses

(Reuters) – Fairfax Financial Holdings on Thursday posted a fall in fourth-quarter profit, as the Canadian insurer battled higher losses tied to catastrophes.

Net earnings were $1.67 billion, or $52.87 per share, for the three months ended Dec. 31, compared with $2.48 billion, or $91.87 per share, in the year-earlier period.

(Reporting by Pritam Biswas in Bengaluru; Editing by Anil D’Silva)