Huron University Announces Historic Donation from Fairfax Financial to Launch Canada’s first Centre for Free Enterprise
Huron University is pleased to announce a bold, $10 million gift from Fairfax Financial Holdings Limited. This is celebrated as the largest donation in Huron’s 162-year history.
London, ON – Huron University is very pleased to announce that it has received a transformative gift commitment from Fairfax Financial Holdings Limited (“Fairfax”) to establish the Fairfax Centre for Free Enterprise at Huron University.
“Today, with the creation of the Fairfax Centre for Free Enterprise at Huron University, we are making a statement: that we believe in Canada, and that it can be the land of opportunity for everyone, and that the free enterprise system that has helped to make the country what it is today should be recognized, maintained and cultivated for the benefit of all Canadians. We believe that Huron University can help lead a revival of the entrepreneurial spirit that is key to our shared future,” said Mr. Prem Watsa, Chairman and CEO of Fairfax.
Huron University is over-joyed by this tremendous opportunity and what it means for its students. Dr. Barry Craig states, “This is a truly groundbreaking initiative. Establishing the first Centre in a Canadian university dedicated to the study and promotion of free enterprise, Huron will play an important role at a crucial time in our nation’s history. Huron alumni have been tremendously successful for many decades in the world of business, creating companies that have enriched our country. Our current students, drawn from every province in Canada and from dozens of different countries around the world are being prepared to make a difference in society. We believe that they can both be successful in their chosen careers and contribute to the creation of a better world for others. This new Centre will help inspire our students and promote the value of entrepreneurship for all of Canada.”
For Mr. Watsa, it is a full circle moment, as Fairfax is a Canadian story: an immigrant who was welcomed into this country 52 years ago and managed to build an incredibly successful company in a country built on the free enterprise system that allows people and businesses to prosper. From his humble roots in India to immigrating to Canada as a student with eight dollars in his pocket to building Fairfax into a multi-billion dollar global business, Mr. Watsa noted that he feels compelled to help raise up the next generation of emerging innovators and entrepreneurs.
The donation aligns with the vision, philosophies and values essential to the success of Fairfax in Canada and abroad. They are steadfast in their belief that economic innovation and growth, in any sector, fosters social progress. Mr. Watsa reflected on a business mantra close to his heart, adding “When a business does well, its customers benefit, its employees benefit, its shareholders benefit – and so do the communities it operates in. At Fairfax, we call this doing good by doing well.”
Fairfax and its subsidiaries collectively contributed more than $80 million US toward charitable causes in 2024, and the gift to Huron University continues its commitment to pursuing and promoting causes that will benefit the communities in which it operates. For Mr. Watsa, he is confident in Huron and their track record of optimizing corporate investments for the greater good: “Huron aims to provide an elite level of accessible education, but also to challenge its students to become leaders with heart – to use the opportunity that they have been given to make a positive difference in the world.”
Planning is underway to officially open the Fairfax Centre for Free Enterprise at Huron University in September, 2025.
Media partners are invited to speak directly with Huron’s President, Dr. Barry Craig, for commentary on this important investment.
To schedule an interview or inquire, please contact:
Vanessa Tosic
Manager, Communications at Huron University
519-438-7224, ext. 802
vtosic3@uwo.ca
About Huron:
Established in 1863, Huron is the founding institution of Western University and one of Canada’s oldest universities. Huron’s distinctive business, liberal arts and ethics-based learning environments offer elite, yet accessible education, where personalized learning experiences position students for leadership and professional success, while also developing their character. Huron’s affiliation with Western University gives students all the benefits of a supportive, close-knit campus, plus all the amenities one would expect from a world-renowned institution. To learn more, visit huronu.ca.
About Fairfax Financial Holdings Limited:
Fairfax Financial Holdings Limited is a holding company which, through its subsidiaries, is primarily engaged in property and casualty insurance and reinsurance and the associated investment management.