Summary - 2026 Fraser Institute Founders' Award Honouring Prem Watsa

Prem Watsa is Chairman and Chief Executive Officer of Fairfax Financial Holdings Limited, a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and the associated investment management.

In 1985 Prem took control of Markel Financial which was controlled by the Virginia based Markel family. In 1987 he then re‐organized and renamed it Fairfax Financial Holdings Limited. He has served as Chairman and Chief Executive Officer since its inception.

Since 1985, Fairfax has compounded book value by about 19%. Fairfax has total assets of approximately US$108 billion, revenues of approximately US$47 billion and common shareholders’ equity of approximately US$26 billion. The company is listed on the Toronto Stock Exchange.

He holds a Bachelors Degree in Chemical Engineering from the Indian Institute of Technology in Madras, India and obtained his MBA from the Richard Ivey School of Business at the University of Western Ontario. He is also a Chartered Financial Analyst. He holds an Honorary Doctorate of Laws from the University of Western Ontario, an Honorary Doctorate of Sacred Letters from Wycliffe College of the University of Toronto and an Honorary Doctorate of Divinity from Tyndale College.

He is a member of the Sick Children’s Hospital Foundation and is Chairman of their Investment Committee, member of the Advisory Board for the Richard Ivey School of Business, and Chairman of the Investment Committee of St. Paul’s Anglican Church in Toronto. He is on the Board of Horatio Alger Association U.S. and President of Horatio Alger Association of Canada. He is on the Board of Fairfax India. He is the Chancellor of Huron University College at the University of Western Ontario and formerly Chancellor of the University of Waterloo. He is a recipient of the Order of Canada.

The Fraser Institute Founders’ Award, named after founders T. Patrick Boyle and Michael A. Walker, is the Institute’s highest honour. The award is presented annually to individuals in recognition of their exceptional entrepreneurial achievements, generous philanthropic endeavors and dedication to competitive markets. These individuals are role models for the next generation of entrepreneurs and leaders.

T. Patrick Boyle served in the Air Force Signals Corps during the Second World War and then went on to complete his business administration studies before embarking on a highly successful business career that spanned more than 25 years in the U.S. and Canada. He served as MacMillan Bloedel’s first worldwide corporate controller before retiring in 1977 to devote his energy to the Fraser Institute. As founding chairman and long-time vice-chairman of the Institute’s Board of Trustees, Mr. Boyle played a pivotal role in ensuring that the Institute’s founding principles continue to guide it to this day. He now holds the title of Founder & Honourary Chairman for Life.

Dr. Michael A. Walker was the executive director of the Fraser Institute from its inception in 1974 until September 2005. As an economist, he has authored or edited 45 books on economic topics. His articles on technical economic subjects have appeared in professional journals in Canada, the United States and Europe, including the Canadian Journal of Economics, the American Economic Review, the Journal of Finance, the Canadian Tax Journal, Health Management Quarterly, Weltwertschaftliches Archiv and Health Affairs. His primary concern as the founding Executive Director of the Fraser Institute has been to promote the examination and use of competitive markets as a method for enhancing the lives of Canadians. He is the co-founder, with Milton and Rose D. Friedman, of the Economic Freedom of the World project which is now a collaboration of institutes in 85 countries and produces the annual Economic Freedom of the World Index. The Index is one of the most widely cited such measures in the current academic literature.

The Fraser Institute Founders’ Award in Recognition of T. Patrick Boyle and Michael A. Walker has been sponsored since its inception by a grant from the Donner Canadian Foundation and by generous corporate sponsorships. Revenue generated by the tribute dinners, held to honour the selected individuals, funds Fraser Institute research and programing activities

2026 Fraser Institute Founders' Award Honouring Prem Watsa

Fairmont Royal York