Insurers trade up on strong profits

P&C carriers and brokers that reported their fourth quarter
results late yesterday or early today received a positive reception
from investors when markets opened in New York, with the exception
of Allied World.
Fairfax CEO Prem Watsa's latest takeover target missed
analysts' consensus estimates as catastrophe losses eroded its
combined ratio.
The company's shares nudged down by 0.3 percent to $53.17 by
mid-morning New York time, dipping below the $54 a share takeover
price offered by Fairfa