The Insurance Hall of Fame will induct Prem Watsa in 2024.

April 27 :
In recognition of his significant contributions to the insurance sector, Prem Watsa—founder, chairman, and CEO of Toronto-based Fairfax Financial Holdings Limited—has been named the 2024 Insurance Hall of Fame Laureate by the International Insurance Society (IIS).
International Insurance Society (IIS) is an international nonprofit with a mission to increase knowledge about risk management and insurance. At the Hyatt Regency Miami, the official ceremony honouring Watsa will take place on November 17, 2024. This date coincides with the start of the Global Insurance Forum, which will be held from November 17 to 19, 2024.

According to Josh Landau, president of the IIS, "Watsa is a visionary leader whose wisdom and foresight have left an indelible mark on the financial landscape in Canada and across the globe." This statement highlights Watsa's lasting impact.

Throughout his forty-plus year career, Prem Watsa has been a trailblazer in investment management strategy. Fairfax Financial is a world-renowned holding corporation listed on the Toronto Stock Exchange. He co-founded Hamblin Watsa Investment Counsel Ltd. in 1984 and later turned a tiny Canadian insurance company into it.

Watsa has led Fairfax Financial to extraordinary success through amicable acquisitions, a focus on underwriting profitability, and investments in total return value. Aside from his business ventures, Watsa is deeply involved in philanthropy. He has been on the boards of several esteemed institutions and has received awards including the Padma Shri and the Order of Canada.

The son of Indian immigrants, Watsa attended IIT-M in Secunderabad before completing his master's degree in business administration at UWO.

The Insurance Industry Society (IIS) created the Insurance Hall of Fame to honour industry pioneers who have had a lasting impact on the field by inspiring others to think beyond the box and recognise insurance's vital role in maintaining international peace and safety.
Members of the IIS submit their nominations for the honour, and the IIS Executive Council, which includes prominent academics and insurance industry figures, reviews and selects the recipients. Some notable recent recipients are Shuzo Sumi, A. Greig Woodring, Larry D. Zimpleman, and Chang-Jae Shin.