Falcon Insurance Public Company Limited (“Falcon Insurance”) recently welcomed senior executives from Fairfax Financial Holdings Limited (“Fairfax”) and Fairfax Asia namely Mr. Brian Young, President, Fairfax Insurance Group; Mr. Michael Wallace, VP, Insurance Operations; Mr. Gobinath Athappan, CEO, Fairfax Asia; Mr. Steve Yendall, CFO, Fairfax Asia; and Mr. Ravi Prabhakar, Regional Director, Fairfax Asia.
The visit underscored Fairfax’s strong commitment to the Thai market and provided an opportunity to share the Group’s global vision and long-term sustainable growth strategy, reinforcing confidence in Falcon Insurance.
Mr. Brian Young highlighted the Group’s strong performance, stating: “In 2025, Fairfax continued to demonstrate solid financial strength, delivering net earnings of USD 4.8 billion (THB 151,348.8 million) and gross written premiums of over USD 33 billion (THB 1,040,523 million). From a strategic perspective, Fairfax remains committed to disciplined growth, with a strong focus on selective risk-taking and prudent line size deployment to ensure a balance between growth and underwriting quality. The Group continues to prioritise sustainable underwriting profitability, targeting a combined ratio of approximately 95% or better, reflecting strong underwriting discipline and operational efficiency.
In addition, Fairfax maintains a conservative reserving approach to strengthen its long-term financial position, alongside effective capital management practices.”
Mr. Gobinath Athappan added: “Fairfax Asia has consistently outperformed market averages, achieving a compound annual growth rate (CAGR) of 11%, with gross written premiums growing from USD 445 million (THB 14,031 million) in 2019 to USD 1.08 billion (THB 34,053 million) in 2025. This reflects both strong execution and disciplined risk management across the region. For 2026, Fairfax Asia will continue to focus on underwriting excellence and reinsurance strategies, while driving innovation through new product development, expanded distribution channels, and the adoption of AI technologies. We are also committed to developing the next generation of talent to support the evolving insurance landscape.”
For Falcon Insurance, the company continues to operate under Fairfax’s Guiding Principles, driving sustainable and accelerated growth through expansion into key strategic markets across Thailand. The company has significantly enhanced its underwriting capabilities, enabling broader and more efficient access to customers nationwide. Falcon Insurance has set a healthy growth target in gross written premiums, while maintaining underwriting discipline and leveraging AI to enhance both underwriting accuracy and claims service efficiency—ensuring faster, more reliable, and transparent customer service.
In response to global uncertainties, including geopolitical tensions in the Middle East impacting energy costs and economic conditions, Falcon Insurance has proactively implemented measures to ensure business continuity. These include supporting government energy-saving initiatives and adopting flexible work arrangements (Work from Home), helping reduce commuting costs and overall energy consumption.
These efforts reflect Falcon Insurance’s commitment not only to sustainable business practices but also to maintaining uninterrupted service and strong customer support under all circumstances.
About Falcon Insurance Public Company Limited
Falcon Insurance Public Company Limited (“Falcon Insurance”) was established in 2007 and is a subsidiary of Fairfax Financial Holdings Limited (“Fairfax”). Fairfax is one of the largest property and casualty companies with its corporate headquarters in Toronto, Canada. Fairfax is listed on the Toronto Stock Exchange under the symbol “FFH” with assets of approximately USD 107.8 billion (THB 3.4 trillion) and its equity of approximately USD 30.9 billion (THB 973.5 billion). Fairfax has insurance operations in North America, South America, Europe, the Middle East, Africa, Australia and Asia. In Asia, Fairfax operates non-life insurance businesses in Thailand, Singapore, Hong Kong, Malaysia, Indonesia, Sri Lanka, India, China and Vietnam.
Fairfax is rated AA- by S&P with a Positive Outlook from S&P, Fitch, and AM Best, reflecting its strong financial position and global credibility. The group is ranked among the top 20 largest property and casualty insurance companies in the world. It is also ranked #393 on the Fortune Global 500, #8 among Canada’s largest public companies by Forbes, and #250 on the Forbes Global 2000 list.
Falcon Insurance provides a comprehensive range of insurance solutions for both corporate and retail customers. Its product offerings include motor insurance, property insurance, accident and health insurance, engineering insurance, marine and logistics insurance, as well as specialty lines such as terrorism insurance, public liability insurance, all risks insurance, fidelity guarantee insurance, professional indemnity insurance, drone insurance, and pet insurance.
