CORRECTED-Fairfax Financial takes quarterly loss on bond investments

Thu Aug 1, 2013 6:21pm EDT

(Corrects currency throughout to U.S. dollars from Canadian dollars)

TORONTO Aug 1 (Reuters) - Fairfax Financial, the Canadian property and casualty insurer run by investment guru Prem Watsa, on Thursday reported a second-quarter loss due to losses on its bond portfolio.

The Toronto-based company posted a net loss of $157.8 million, or $8.55 a share, for the quarter ended June 30. That compared with a year-before profit of $93.7 million, or $3.79 a share.

The result was due to a $415.7 million net loss on investments, particularly unrealized losses on bonds. That compared with a year-before gain on investments of $71.5 million. (Reporting by Cameron French; Editing by Richard Chang)


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