Does anyone know why Fairfax Financial’s market value (FFH-T) has not kept pace with its book value?

From what I can gather, it looks like an amazing business.

Selling at book value, if you buy it, you get a company recording respective record level profits, but you get the insurance company for free because it seems to be selling at the price of its net assets.

Am I right in assuming that this business is selling close to book value?

And if that’s the case, does anyone know why?

Is it that far under the U.S. radar?

I am just starting to research this business, so if anyone is willing to share what they know I’d appreciate it,

Thanks!