Fairfax Financial Holdings appointed Brian Young as president of Fairfax Insurance Group, effective Jan. 1, 2025. He succeeds Andrew Barnard, who now serves as chairman of the group, according to Fairfax.
Young has been with Odyssey Group since 1996, leading as CEO since 2011. During his tenure, the company recorded 13 consecutive years of underwriting profits and nearly tripled its size.
Prem Watsa, chairman and CEO of Fairfax Financial who received the 2024 National Builder Award, welcomed the changes.
Brian and Andy have worked together for nearly 35 years, the last 28 at Fairfax. Our expansive global (re)insurance operations will benefit greatly from their collective oversight.
Prem Watsa, chairman and CEO of Fairfax Financial
Carl Overy has taken over as CEO of Odyssey, effective Jan. 1. He will oversee Odyssey’s three operating platforms: OdysseyRe, Hudson, and Newline. Overy previously led OdysseyRe since April 2023 and served as CEO of Newline and the London branch of OdysseyRe for 15 years.
Barnard’s career at Fairfax Financial Holdings has been marked by significant leadership roles. Prior to his tenure at Fairfax, he held positions such as Executive Vice President, Chief Underwriting Officer, and Director at Transatlantic Holdings, and Vice President at Reliance Reinsurance. In addition to his role at Fairfax Insurance Group, Barnard serves as Chairman of the Board at Odyssey Group Holdings, Inc., and holds directorships at Zenith National Insurance Corp. and Brit Ltd.
In December, Fairfax completed its acquisition of Brit by purchasing a 13.8% stake from Ontario’s OMERS pension plan for $383 mn.
Brit said it Lloyd’s trading platform Ki Financial will operate as a standalone company within the Fairfax Financial Services group beginning Jan. 1, 2025.
Ki was incubated and launched by Brit in 2020 and began writing business in 2021 with its Lloyd’s Syndicate 1618, Brit said in a statement. Ki was one of the largest start-up syndicates in the history of Lloyd’s and the first digital follow syndicate.
The Empire Club of Canada has awarded Prem Watsa, founder, chairman, and CEO of Fairfax Financial Holdings, the prestigious 2024 Nation Builder Award.
The Nation Builder Award recognizes a Canadian leader or organization that has made a significant, lasting contribution to society, serving as an inspiring role model. The Empire Club of Canada noted Watsa built one of Canada’s most successful global insurance companies and championed numerous philanthropic causes.
From his incredible work ethic and business success to his commitment to philanthropy, volunteerism and opportunity creation, Prem Watsa is an inspiring leader who represents the best of our country. The Empire Club of Canada is delighted to celebrate his contributions and impact
Jenna Donelson, board chair of the Empire Club of Canada
Watsa’s career highlights include founding Fairfax Financial Holdings, which has grown into a major player in the global insurance sector with a market capitalization exceeding $40 bn.
Alongside his business success, Watsa has been a strong advocate for various charitable causes, with a focus on education, healthcare, and community investment. He has supported organizations such as SickKids Hospital, the University of Waterloo, and the Royal Ontario Museum.
