Commercial International Bank

• FF Fairfax Financial Holdings Chairman’s Letter to Shareholders ↗ Fairfax Financial Holdings credits decentralized underwriting, investment income and disciplined capital allocation for record operating results, while maintaining share repurchases and employee ownership. The company agreed to sell Eurolife’s life business to Eurobank, backed Kennedy Wilson’s privatization, expanded Indian insurance ventures and built major positions in Under Armour and Metlen Energy. 2025 FRFHF $41BCIBEY $7.9BGFR $1.5B +3

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