(November 9 – 18:15 ET) – Fairfax Financial Holdings Ltd. is reporting a loss for the third quarter ending September 30. The net loss for the quarter was $22.1 million compared with net earnings of $35.3 million last year. The net loss per share for the quarter was $1.93, compared with net earnings per share of $2.45 a year ago.

Fairfax says the loss in the third quarter was mainly due to restructuring costs of $32.5 million relating to Crum & Forster and TIG Insurance in excess of accruals recorded on acquisition, and losses of $15.7 million from certain discontinued lines of business.

Total revenue for the quarter was $1.4 billion compared to $1.7 billion a year ago.
-IE Staff