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Canada s Fairfax to buy Brit Insurance_online Horse Racing free

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									Canada's Fairfax to buy Brit Insurance,online Horse
Racing free betting for $300 million
nnnev.com http://nnnev.com
Canada's Fairfax to buy Brit Insurance,online Horse Racing free betting   for
$300 million



        Mon Jun 18, 2012 12:25pm BST



(RBriteuters) - Canada's Fairfax Finonlineancial Holdings Ltd's (FFH.TO)
RiverStone runoff uniinsurancet will buy Brit Insurance Ltd of LSpread
Betting Explainedondon from Brit Group for which involvehorses $300 million
to expand in the reiInsurancensurance market.

http://nnnev.com/index.php/212
Canada's

Brit Insurance, which wrote UK domestic as freewell some international
insurance and reinsurance, was placed in rucanadanoff earlier this year.



"We continbettingue to look for opportunities to Canada'sgrow profitably in
the runoff area," Fairfax's Chief ExecuHow To Parlay Bet In College
Football?tive Prem Watsa said in a statement.



online Horse Racing free betting
In a runoffonline, an insurance comHorsepany stops writing new $300business
and only manages the existing book until all the policies in th300at book
expire.



Prem WAthletics Victoriaatsa, an Indian-born Canadian,online Horse Racing
free betting. has formed a reputation as a shrewfairfaxd contrarian investor
by moves such as betting agaInsuranceinst the U.S. housing market in the last
decade and reaWhat Is A Freeodds Bet?online Horse Racing free betting.ping
billions when the market collapsed.

Watsa, known as the "Warren Buffett of the NorthRacing", took control of
Fairfax in 1985 and Horsesits on the board of Research in Motion (RIM.TO)
(RIMM.O). He aFairfaxlso holds an 18.5 percent interest in pulp and paper
company ResolRawkute Forest Pmillionroducts Inc (RFP.N)$300 (RFP.TO).



online Horse Racing free betting
The Canadian properBet Internetty and casualtoty insurer said Brit Insurance
had net reserves of which invfreeolves $1.3for billion and cash and invested
bummets of which forinvolves $1.online Horse Racing free betting.9 billion
at March 31.



RiverStone will buy Bbritrit Insurance attending the discount to its book
valRacingue, said Fairfax,. which put the UbuyK insurer's book value at which
involves $530 millWho Sings Rawk Fist?ion.



The deal, likely to be funded by internmillional resources at RiverStone,
is expected to close in the How To Bet On Football Games?fourth quarter of
2012.

online Horse Racing free betting


Fairfax last month said it would buy Thomas Cook Group Plc's (TCG.freeL) 77
percent stake in its India operations for which involvWho Is Mahlon William
Hill?es $150 million.



Fairfax shares clonlineosed at C$390.02 oNeed Ideas for a Friendly Bet?n
Friday on the Toronto Stock Exchange.



(Reportinsg by Jochelle Mendonca and BhFairfaxaswati Mukhopadhyay in
Bangalore. Editing by Mark Potbettingter and Sriraj Kracingalluvila)

buy

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million

Canada's Fairfax to buy Brit Insurance,online Horse Racing free betting   for
$300 million

,By ,     ,    LONDON |      Fri Jun 15, 2012 3:05pm BST       , ,LONDON
(Reuters) - Britain's wall of cash built with new offers of cheap funding
to banks will limit the threats from the raging euro zone crisis, economists
said On Friday, although the economy may need more action to engineer a proper
recovery.,,The Bank of England and government coordinated scheme announced
on Thursday to get credit flowing through the recession-hit economy by
lowering banks' funding costs cheered markets and drew praise from most
economists.But Chancellor George Osborne in particular remains under
pressure to spend money directly on infrastructure to create jobs as many
companies and households lack the confidence to borrow for investment or
consumption."Such schemes can stop a meltdown in your banking system in times
of very severe stress," said Jonathan Portes, head of macro-economic think
tank NIESR. "This is time of stress, so it's absolutely right to put them
in place now."However, just making credit cheaper may amount to pushing on
a string, Portes said. "It may not be about the banks but about business
confidence," he said. "Most of the problem with business investment is on
the demand side."In the first coordinated policy move since the height of
the financial crisis, the BoE and the government announced a plan to provide
cheap long-term funding to banks, allowing them to swap company or consumer
loans if they pledged to increase lending.Details and the ultimate size of
the package remain unclear. Officials said it could unlock 80 billion pounds
- or 5 percent of GDP - in new lending, but Treasury minister Mark Hoban
admitted demand would define the size.And the head of the British Chambers
of Commerce called for more radical measures. "Growth cannot wait," John
Longworth said, calling for a state-backed business bank and government steps
to kick-start infrastructure spending.CASHThe BoE also activated an
emergency liquidity tool, providing at least 5 billion pounds per month in
six-month funding, in a move to mitigate the stress in the banking system
from the escalating crisis in the euro zone.Markets took heart from the
central bank actions, driving the pound and prices of shares in banks and
other risk-sensitive companies higher, while pound LIBOR rates fell,
indicating the desired relief for banks' funding costs.The banks' funding
costs have risen since the escalation of the euro crisis started in August
2011, and lenders are passing the rise on to clients, driving up rates for
mortgages and business loans despite the central bank's ultra-low base rate
and 325 billion pounds in quantitative easing asset purchases.All observers
agree that Britain's economy can do with all the help it can get as the euro
zone - its largest trading partner - faces recession, and mayhem looms should
Greek voters not elect a government seen able to keep the country in the euro
zone.Britain is still reeling from the 2007-2009 financial crisis that has
left many Britons worse off and forced the country to rescue its banking system
with tens of billions of taxpayers' money, drilling a deep hole in public
finances.Britain's coalition government of Conservatives and Liberal
Democrats have made the reduction of the deficit - still around 8 percent
of GDP - the cornerstone of their policy. But the Labour opposition is accusing
them of choking off the recovery.A slump in exports in April raised the
prospect that the economy is shrinking for a third quarter running, dealing
a further blow to the fragile confidence, and even minimal growth for the
full year looks increasingly unlikely.SHIFTMost economists now expect the
Bank of England to restart its quantitative easing (QE) purchases of
government bonds with newly created money - which it halted in May - after
governor Mervyn King said on Thursday the case for more easing had grown.And
while the funding moves are welcomed, more and more economists say further
steps to stimulate demand are needed."Having expressed our concerns that the
marginal impact of QE was fading, we regard these steps as unambiguously
positive for the outlook, even as we are disappointed - though not surprised
- that the Chancellor continues to show little flexibility on the issue of
infrastructure spending, initially funded directly and undertaken by the
state," said JP Morgan analyst Malcolm Barr.But NIESR's Portes - who has long
argued for a spending boost - said there were signs that Osborne's team was
shifting the focus, pointing to announcements that the government was looking
into ways to use guarantees to underwrite house-building and infrastructure
projects.The political hurdle for any up-front government spending boost is
high, as it would be quickly portrayed as a U-turn from Osborne, who has said
strict austerity was essential to defend Britain's top-credit
rating.Labour's finance spokesman Ed Balls already said the latest measures
showed the government's policy had failed.At least markets may be more
forgiving, said Vicky Redwood from Capital Economics. Even if the rating
agencies decided to strip Britain of its priced AAA rating, the market impact
was likely to be limited."It would be a personal blow to the Chancellor,"
she said. "But I don't think markets would be too concerned about it."(Editing
by Jeremy Gaunt.),      Mon Jun 18, 2012 12:25pm BST       , ,(Reuters) -
Canada's Fairfax Financial Holdings Ltd's (FFH.TO) RiverStone runoff unit
will buy Brit Insurance Ltd of London from Brit Group for about $300 million
to expand in the reinsurance market.,,Brit Insurance, which wrote UK domestic
as well some international insurance and reinsurance, was placed in runoff
earlier this year."We continue to look for opportunities to grow profitably
in the runoff area," Fairfax's Chief Executive Prem Watsa said in a
statement.In a runoff, an insurance company stops writing new business and
only manages the existing book until all the policies in that book expire.Prem
Watsa, an Indian-born Canadian, has built a reputation as a shrewd contrarian
investor by moves such as betting against the U.S. housing market in the last
decade and reaping billions when the market collapsed.Watsa, known as the
"Warren Buffett of the North", took control of Fairfax in 1985 and sits on
the board of Research in Motion (RIM.TO) (RIMM.O). He also holds an 18.5
percent interest in pulp and paper company Resolute Forest Products Inc
(RFP.N) (RFP.TO).The Canadian property and casualty insurer said Brit
Insurance had net reserves of about $1.3 billion and cash and invested assets
of about $1.9 billion at March 31.RiverStone will buy Brit Insurance at a
discount to its book value, said Fairfax, which put the UK insurer's book
value at about $530 million.The deal, likely to be funded by internal
resources at RiverStone, is expected to close in the fourth quarter of
2012.Fairfax last month said it would buy Thomas Cook Group Plc's (TCG.L)
77 percent stake in its India operations for about $150 million.Fairfax shares
closed at C$390.02 on Friday on the Toronto Stock Exchange.(Reporting by
Jochelle Mendonca and Bhaswati Mukhopadhyay in Bangalore. Editing by Mark
Potter and Sriraj Kalluvila) which wrote UK domestic as well some
international insurance and reinsurance,In a runoff," said JP Morgan analyst
Malcolm Barr. drilling a deep hole in public finances. who has said strict
austerity was essential to defend Britain's top-credit rating. pointing to
announcements that the government was looking into ways to use guarantees
to underwrite house-building and infrastructure projects,The Bank of England
and government coordinated scheme announced on Thursday to get credit flowing
through the recession-hit economy by lowering banks' funding costs cheered
markets and drew praise from most economists.At least markets may be more
forgiving, Editing by Mark Potter and Sriraj Kalluvila), said Fairfax,
driving the pound and prices of shares in banks and other risk-sensitive
companies higher,"Such schemes can stop a meltdown in your banking system
in times of very severe stress, so it's absolutely right to put them in place
now,Markets took heart from the central bank actions."(Editing by Jeremy
Gaunt, even as we are disappointed - though not surprised - that the Chancellor
continues to show little flexibility on the issue of infrastructure spending,
"Growth cannot wait,      Mon Jun 18, the market impact was likely to be
limited, Even if the rating agencies decided to strip Britain of its priced
AAA rating, took control of Fairfax in 1985 and sits on the board of Research
in Motion (RIM, housing market in the last decade and reaping billions when
the market collapsed.RiverStone will buy Brit Insurance at a discount to its
book value, in a move to mitigate the stress in the banking system from the
escalating crisis in the euro zone, was placed in runoff earlier this year.
"This is time of stress. dealing a further blow to the fragile
confidence,"However,And the head of the British Chambers of Commerce called
for more radical measures, "It may not be about the banks but about business
confidence,SHIFTMost economists now expect the Bank of England to restart
its quantitative easing (QE) purchases of government bonds with newly created
money - which it halted in May - after governor Mervyn King said on Thursday
the case for more easing had grown, which put the UK insurer's book value
at about $530 million," she said, head of macro-economic think tank NIESR.
while pound LIBOR rates fell. 2012 3:05pm BST     ," John Longworth said, and
lenders are passing the rise on to clients, "But I don't think markets would
be too concerned about it, an insurance company stops writing new business
and only manages the existing book until all the policies in that book
expire,The Canadian property and casualty insurer said Brit Insurance had
net reserves of about $1,9 billion at March 31, economists said On Friday,"We
continue to look for opportunities to grow profitably in the runoff area.The
political hurdle for any up-front government spending boost is high.

Watsa."It would be a personal blow to the Chancellor.CASHThe BoE also
activated an emergency liquidity tool,"In the first coordinated policy move
since the height of the financial crisis, allowing them to swap company or
consumer loans if they pledged to increase lending. the BoE and the government
announced a plan to provide cheap long-term funding to banks,Britain is still
reeling from the 2007-2009 financial crisis that has left many Britons worse
off and forced the country to rescue its banking system with tens of billions
of taxpayers' money,N) (RFP," said Jonathan Portes, more and more economists
say further steps to stimulate demand are needed,Britain's coalition
government of Conservatives and Liberal Democrats have made the reduction
of the deficit - still around 8 percent of GDP - the cornerstone of their
policy,TO) (RIMM,A slump in exports in April raised the prospect that the
economy is shrinking for a third quarter running. 2012 12:25pm BST    . Portes
said,But NIESR's Portes - who has long argued for a spending boost - said
there were signs that Osborne's team was shifting the focus. is expected to
close in the fourth quarter of 2012, "Most of the problem with business
investment is on the demand side,Fairfax shares closed at C$390,And while
the funding moves are welcomed, and mayhem looms should Greek voters not elect
a government seen able to keep the country in the euro zone, likely to be
funded by internal resources at RiverStone, known as the "Warren Buffett of
the North", has built a reputation as a shrewd contrarian investor by moves
such as betting against the U," he said.       LONDON |      Fri Jun
15,(Reporting by Jochelle Mendonca and Bhaswati Mukhopadhyay in Bangalore,
we regard these steps as unambiguously positive for the outlook, initially
funded directly and undertaken by the state, But the Labour opposition is
accusing them of choking off the recovery.Brit Insurance,"Having expressed
our concerns that the marginal impact of QE was fading.

 but Treasury minister Mark Hoban admitted demand would define the size,
indicating the desired relief for banks' funding costs.Details and the
ultimate size of the package remain unclear, just making credit cheaper may
amount to pushing on a string,The banks' funding costs have risen since the
escalation of the euro crisis started in August 2011, although the economy
may need more action to engineer a proper recovery,02 on Friday on the Toronto
Stock Exchange, said Vicky Redwood from Capital Economics,Fairfax last month
said it would buy Thomas Cook Group Plc's (TCG,TO)," Fairfax's Chief Executive
Prem Watsa said in a statement,L) 77 percent stake in its India operations
for about $150 million,TO) RiverStone runoff unit will buy Brit Insurance
Ltd of London from Brit Group for about $300 million to expand in the
reinsurance market,5 percent interest in pulp and paper company Resolute
Forest Products Inc (RFP,But Chancellor George Osborne in particular remains
under pressure to spend money directly on infrastructure to create jobs as
many companies and households lack the confidence to borrow for investment
or consumption, driving up rates for mortgages and business loans despite
the central bank's ultra-low base rate and 325 billion pounds in quantitative
easing asset purchases.3 billion and cash and invested assets of about $1,
Officials said it could unlock 80 billion pounds - or 5 percent of GDP - in
new lending, calling for a state-backed business bank and government steps
to kick-start infrastructure spending,Prem Watsa, an Indian-born Canadian,
He also holds an 18, as it would be quickly portrayed as a U-turn from
Osborne,The deal.All observers agree that Britain's economy can do with all
the help it can get as the euro zone - its largest trading partner - faces
recession, and even minimal growth for the full year looks increasingly
unlikely,Labour's finance spokesman Ed Balls already said the latest measures
showed the government's policy had failed,LONDON (Reuters) - Britain's wall
of cash built with new offers of cheap funding to banks will limit the threats
from the raging euro zone crisis, providing at least 5 billion pounds per
month in six-month funding,(Reuters) - Canada's Fairfax Financial Holdings
Ltd's (FFH.

								
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