Odyssey Group, fully owned by Fairfax Financial Holdings, is closing 2020 with a 35.8% decline in net profit.
The net result went from 405.4 million USD in 2019 to 260.1 million USD as at 31 December 2020. The combined ratio was up by 1.3 points to reach 95.8%.
The group's turnover stands at 4.446 billion USD in 2020, an increase of 16.5% compared to the 3.816 billion USD recorded in 2019.
Business underwriting in the US market (USA) represents 42% of the portfolio. The remaining 58% comes from the group's other divisions:
- North America (28%),
- Eurasia (16.5%),
- London market (10.8%)
- Latin America (2.7%).
As at 31 December 2020, the group's shareholders' equity reached 4.774 billion USD, corresponding to a year-on-year growth of 4.03%.
Based in Stamford, Connecticut, Odyssey Group is active in reinsurance through Odyssey Re. Specialty risks are underwritten by Hudson Insurance and Newline Group.
Read also | Chubb offers 23.24 billion USD for the acquisition of Hartford [4]