Fairfax Group Donating US$1 Million for Karnataka Flood Relief
August 30 2019 - 7:59AM
Fairfax Financial Holdings Limited (“Fairfax”) (TSX: FFH and
FFH.U), together with Bangalore International Airport Limited
(“BIAL”), is donating an aggregate of US$1 million to aid relief
operations in connection with the recent devastating floods in
Karnataka, India.
The donation will be made through Fairfax’s
affiliate Fairbridge Capital Private Limited (“Fairbridge”) and
BIAL (an investee company of Fairfax India), with each of
Fairbridge and BIAL contributing INR 35,000,000 (US$500,000 at
current exchange rates) to the Karnataka State Disaster Management
Authority.
Prem Watsa, Chairman and Chief Executive Officer
of Fairfax, commented, “The destruction of property, loss of lives
and the impact on livelihood of the people of Karnataka due to the
catastrophic rains is extremely saddening. Fairfax extends our
deepest condolences to the people impacted by this catastrophe, and
wish to support rehabilitation and reconstruction efforts for the
people of Karnataka.”
Fairfax is a holding company which, through its
subsidiaries, is engaged in property and casualty insurance and
reinsurance and the associated investment management.
For further information contact: John Varnell,
Vice President, Corporate Development at (416) 367-4941
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