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UPDATE 1-Fairfax posts Q1 loss on investment woes

Thu Apr 30, 2009 5:21pm EDT

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(In U.S. dollars unless noted)

TORONTO, April 30 (Reuters) - Fairfax Financial Holdings Ltd (FFH.TO) said on Thursday it had a net loss in the first quarter as investments shed value in volatile markets.

The Toronto-based insurance holding company said it had a loss of $60.4 million, or $3.55 a diluted share, in the quarter ended March 31, compared with net earnings of $631.8 million, or $33.78 a share, in the comparable period in 2008.

Fairfax said revenue fell to $1.28 billion from $2.37 billion. (Reporting by Andrea Hopkins; editing by Rob Wilson)



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