Q4 contributes to 'record' 2015 UW profits at Fairfax

Underwriting profits across Fairfax Financial's insurance and
reinsurance operations in the fourth quarter helped the Canadian
firm to its lowest ever combined ratio for the full year.
The fourth quarter combined ratio at the company's
consolidated underwriting operations was 86.4 percent, representing
a marginal deterioration from the 86.3 percent generated in the
prior-year period.
But the performance was part of a full-year combined ratio that
improved from 90.8 percent to a record low of 89.