Fairfax returns to profit after heavy Q4 loss

Fairfax was back in the black for the first quarter posting net
earnings attributable to shareholders of $82.6mn after running up
losses of $702mn in the final three months of last year.
The result for the first quarter of 2017 followed a $51.0mn loss
in the corresponding period last year, and was entirely driven by
an improved investment performance.
The figures represent a 3.9 percent annualised return on
equity.
Group-wide underwriting performance worsened by 1.5 percentage
points to 94.6 per