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Gross premiums written totalled US$6.64 billion, down from US$7.02 billion in the last three months of 2022.

Fairfax says its adjusted operating income for property and casualty insurance and reinsurance amounted to US$1.2 billion, up from US$940.1 million in its fourth quarter a year earlier.

The results come after short-seller Muddy Waters Research alleged last week Fairfax manipulated asset values. The company has denied and refuted all of the allegations.

Fairfax shares fell more than 10 per cent the day the Muddy Waters report was released, however, they have since recovered most of the decline.

This report by ºÃÉ«tvwas first published Feb. 16, 2024.

Companies in this story: (TSX:FFH)

Note to readers: This is a corrected story. An earlier version incorrectly stated the year ago figure for adjusted operating income for property and casualty insurance and reinsurance.