Prem Watsa, often called “Canada’s Warren Buffett,” has confirmed that his son Ben Watsa will be his successor at Fairfax Financial Holdings. The announcement is highlighted in Watsa’s upcoming book The Fairfax Way, where he outlines plans to ensure stability and continuity at the company.
Fairfax, founded in 1985, has grown into a US$35-billion global insurance and investment group with major exposure to India. The firm has invested nearly US$7 billion in Indian companies, including GoDigit Insurance, Thomas Cook India, Quess Corp, CSB Bank and the Bengaluru airport.
Ben Watsa has served on Fairfax’s board since 2014 and manages Marval Capital, a fund focused on Indian equities that has delivered strong returns. Prem Watsa emphasised that he is not stepping down immediately but wants shareholders to know that the company has a robust succession plan and that its long-term investment culture will continue under the next generation.