* Rev down 31 pct to $1.41 bln

Feb 18 - Fairfax Financial Holdings Ltd (FFH.TO), which deals in property and casualty insurance and reinsurance, reported fourth-quarter profit that plunged 77 percent on investment losses.

The Toronto-based financial services company reported quarterly net earnings of $79.4 million, or $1.65 per share, compared with $346.8 million, or $19.62 per share, last year.

Fairfax recorded a net investment loss of $30.3 million in the quarter, compared with $681 million of net gains on investments in the prior quarter.

Revenue fell 31 percent to $1.41 billion, with net premiums earned dropping 6 percent to $1.12 billion.

Earlier in the day, Fairfax said it will buy all the shares of U.S. insurer Zenith National Insurance Corp (ZNT.N) that it does not already own in a deal worth about $1.4 billion. [ID:nSGE61H0I1]

Fairfax Financial shares closed at C$374.99 Thursday on the Toronto Stock Exchange. (Reporting by R. Manikandan in Bangalore; Editing by Unnikrishnan Nair)