Odyssey Re Group publishes its 2017 results
Odyssey Group, a wholly-owned subsidiary of Fairfax Financial Holdings, generated in 2017 a net result of 325.3 million USD, up by 102% compared to 160.9 million USD in 2016. The insurance business accounts for 46% of total underwritings, compared with 54% for reinsurance.
The group's turnover amounted to 2.78 billion USD, up by 16.9% compared to 2.38 billion USD in 2016. The underwritten portfolio includes 39% US business. The remaining 61% comes from other divisions of the group, namely; North America, excluding USA (28%), Latin America (4%), EuroAsia (19%), London market (10%).
The combined ratio deteriorated by 8.7 points going from 88.9% in 2016 to 97.6% a year later.
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