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Fairfax Financial profit jumps on investments

TORONTO, May 1 (Reuters) - Fairfax Financial Holdings , the Canadian property and casualty insurer run by investment guru Prem Watsa, said its first-quarter profit more than quadrupled due to strong investment gains and improved underwriting results.

The Toronto-based company said it earned $784.6 million, or $35.72 a share, in the first quarter. That compared with a year-before profit of $161.6 million, or 7.12 a share.

(Reporting by Cameron French; Editing by David Gregorio)