Fairfax Financial Holdings Limited (PNK:FRFHF) Q3 2023 Earnings Call Transcript

Jen Allen: Yes, no, I think that’s a fair statement. Tom, the way we think about it is how I commented in my comments in the earlier part of the call, which is if you look at that net financing, look at the change in rates compared to your bond portfolio, you saw a benefit of net $165 million in the quarter. That would go away if the interest rate environment was static. So, the last two pieces you’re looking at is the new change in discount rate, and the unwind. And as Peter said, it’s still a net benefit because we are unwinding at a longer rate than the new claims are coming on. But over time, it’s not a huge impact. And over time, you should start to see that kind of net to almost a nominal impact.

Tom MacKinnon: Thanks.

Peter Clarke: Thank you, Tom. Fran, next question, please?

Operator: Thank you, sir. At this time I have no further questions in queue.

Peter Clarke: Okay, that’s terrific. Tom, you’re the only guy who has the question. We thank you all for joining our conference call. And we look forward to our year-end call in February. Thank you. Thanks again. Thank you, Fran.

Operator: You’re most welcome. Thank you very everyone for your participation. As we are concluded, please disconnect at this time. Thank you very much.