SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
AMENDMENT NO. 5 TO
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Odyssey Re Holdings Corp.
-------------------------
(Name of Issuer)
Common Stock, $.01 par value
----------------------------
(Title of Class of Securities)
67612W108
---------
(CUSIP Number)
Eric P. Salsberg
Vice President, Corporate Affairs
Fairfax Financial Holdings Limited
95 Wellington Street West, Suite 800
Toronto, Ontario, Canada, M5J 2N7
Telephone: (416) 367-4941
-------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
- With a copy to -
Christopher J. Cummings
Shearman & Sterling LLP
Commerce Court West
199 Bay Street, Suite 4405
Toronto, Ontario M5L 1E8
Telephone (416) 360-8484
February 24, 2006
-----------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule became of Rule 13d-1(b)(3) or (4), check the following box [ ].
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 or otherwise subject to the liabilities of that section of the Act but
shall be subject to all other provisions of the Act
(however, see the Notes).
13D
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CUSIP No. 67612W108 Page 2 of 38
Pages
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(1) Name of Reporting Person
V. Prem Watsa
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(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
(3) SEC Use Only
--------------------------------------------------------------------------------
(4) Source of Funds
OO
--------------------------------------------------------------------------------
(5) Check box if Disclosure of Legal Proceedings is Required Pursuant to
Item 2(d) or 2(e). [ ]
--------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
Canada
--------------------------------------------------------------------------------
(7) Sole Voting Power
-----------------------------------
Number of (8) Shared Voting Power
Shares Beneficially 55,464,400
Owned
by Each -----------------------------------
Reporting (9) Sole Dispositive Power
Person With
-----------------------------------
(10) Shared Dispositive Power
55,464,400
--------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by each Reporting Person 55,464,400
--------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [ ]
--------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 80.2
--------------------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) IN
--------------------------------------------------------------------------------
2
13D
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CUSIP No. 67612W108 Page 3 of 38
Pages
--------------------------------------------------------------------------------
(1) Name of Reporting Person
1109519 ONTARIO LIMITED
--------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
(3) SEC Use Only
--------------------------------------------------------------------------------
(4) Source of Funds
OO
--------------------------------------------------------------------------------
(5) Check box if Disclosure of Legal Proceedings is Required Pursuant to
Item 2(d) or 2(e). [ ]
--------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
Ontario, Canada
--------------------------------------------------------------------------------
(7) Sole Voting Power
-----------------------------------
Number of (8) Shared Voting Power
Shares Beneficially 55,464,400
Owned
by Each -----------------------------------
Reporting (9) Sole Dispositive Power
Person With
-----------------------------------
(10) Shared Dispositive Power
55,464,400
--------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by each Reporting Person 55,464,400
--------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [ ]
--------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 80.2
--------------------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) CO
--------------------------------------------------------------------------------
3
13D
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CUSIP No. 67612W108 Page 4 of 38
Pages
--------------------------------------------------------------------------------
(1) Name of Reporting Person
THE SIXTY TWO INVESTMENT COMPANY LIMITED
--------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
(3) SEC Use Only
--------------------------------------------------------------------------------
(4) Source of Funds
OO
--------------------------------------------------------------------------------
(5) Check box if Disclosure of Legal Proceedings is Required Pursuant to
Item 2(d) or 2(e). [ ]
--------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
British Columbia
--------------------------------------------------------------------------------
(7) Sole Voting Power
-----------------------------------
Number of (8) Shared Voting Power
Shares Beneficially 55,464,400
Owned
by Each -----------------------------------
Reporting (9) Sole Dispositive Power
Person With
-----------------------------------
(10) Shared Dispositive Power
55,464,400
--------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by each Reporting Person 55,464,400
--------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [ ]
--------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 80.2
--------------------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) CO
--------------------------------------------------------------------------------
4
13D
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CUSIP No. 67612W108 Page 5 of 38
Pages
--------------------------------------------------------------------------------
(1) Name of Reporting Person
810679 ONTARIO LIMITED
--------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
(3) SEC Use Only
--------------------------------------------------------------------------------
(4) Source of Funds
OO
--------------------------------------------------------------------------------
(5) Check box if Disclosure of Legal Proceedings is Required Pursuant to
Item 2(d) or 2(e). [ ]
--------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
Ontario, Canada
--------------------------------------------------------------------------------
(7) Sole Voting Power
-----------------------------------
Number of (8) Shared Voting Power
Shares Beneficially 55,464,400
Owned
by Each -----------------------------------
Reporting (9) Sole Dispositive Power
Person With
-----------------------------------
(10) Shared Dispositive Power
55,464,400
--------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by each Reporting Person 55,464,400
--------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [ ]
--------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 80.2
--------------------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) CO
--------------------------------------------------------------------------------
5
13D
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CUSIP No. 67612W108 Page 6 of 38
Pages
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(1) Name of Reporting Person
FAIRFAX FINANCIAL HOLDINGS LIMITED
--------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
(3) SEC Use Only
--------------------------------------------------------------------------------
(4) Source of Funds
OO
--------------------------------------------------------------------------------
(5) Check box if Disclosure of Legal Proceedings is Required Pursuant to
Item 2(d) or 2(e). [ ]
--------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
Canada
--------------------------------------------------------------------------------
(7) Sole Voting Power
-----------------------------------
Number of (8) Shared Voting Power
Shares Beneficially 55,464,400
Owned
by Each -----------------------------------
Reporting (9) Sole Dispositive Power
Person With
-----------------------------------
(10) Shared Dispositive Power
55,464,400
--------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by each Reporting Person 55,464,400
--------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [ ]
--------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 80.2
--------------------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) CO
--------------------------------------------------------------------------------
6
13D
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CUSIP No. 67612W108 Page 7 of 38
Pages
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(1) Name of Reporting Person
FFHL GROUP LTD.
--------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
(3) SEC Use Only
--------------------------------------------------------------------------------
(4) Source of Funds
OO
--------------------------------------------------------------------------------
(5) Check box if Disclosure of Legal Proceedings is Required Pursuant to
Item 2(d) or 2(e). [ ]
--------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
Canada
--------------------------------------------------------------------------------
(7) Sole Voting Power
-----------------------------------
Number of (8) Shared Voting Power
Shares Beneficially 55,464,400
Owned
by Each -----------------------------------
Reporting (9) Sole Dispositive Power
Person With
-----------------------------------
(10) Shared Dispositive Power
55,464,400
--------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by each Reporting Person 55,464,400
--------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [ ]
--------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 80.2
--------------------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) CO
--------------------------------------------------------------------------------
7
13D
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CUSIP No. 67612W108 Page 8 of 38
Pages
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(1) Name of Reporting Person
FAIRFAX INC.
--------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
(3) SEC Use Only
--------------------------------------------------------------------------------
(4) Source of Funds
OO
--------------------------------------------------------------------------------
(5) Check box if Disclosure of Legal Proceedings is Required Pursuant to
Item 2(d) or 2(e). [ ]
--------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
Wyoming
--------------------------------------------------------------------------------
(7) Sole Voting Power
-----------------------------------
Number of (8) Shared Voting Power
Shares Beneficially 55,464,400
Owned
by Each -----------------------------------
Reporting (9) Sole Dispositive Power
Person With
-----------------------------------
(10) Shared Dispositive Power
55,464,400
--------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by each Reporting Person 55,464,400
--------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [ ]
--------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 80.2
--------------------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) CO
--------------------------------------------------------------------------------
8
13D
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CUSIP No. 67612W108 Page 9 of 38
Pages
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(1) Name of Reporting Person
FAIRFAX FINANCIAL (US) LLC
--------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
(3) SEC Use Only
--------------------------------------------------------------------------------
(4) Source of Funds
OO
--------------------------------------------------------------------------------
(5) Check box if Disclosure of Legal Proceedings is Required Pursuant to
Item 2(d) or 2(e). [ ]
--------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
Delaware
--------------------------------------------------------------------------------
(7) Sole Voting Power
-----------------------------------
Number of (8) Shared Voting Power
Shares Beneficially 4,300,000
Owned
by Each -----------------------------------
Reporting (9) Sole Dispositive Power
Person With
-----------------------------------
(10) Shared Dispositive Power
4,300,000
--------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by each Reporting Person 4,300,000
--------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [ ]
--------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 6.2
--------------------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) CO
--------------------------------------------------------------------------------
9
13D
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CUSIP No. 67612W108 Page 10 of 38
Pages
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(1) Name of Reporting Person
TIG HOLDINGS, INC.
--------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
(3) SEC Use Only
--------------------------------------------------------------------------------
(4) Source of Funds
OO
--------------------------------------------------------------------------------
(5) Check box if Disclosure of Legal Proceedings is Required Pursuant to
Item 2(d) or 2(e). [ ]
--------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
Delaware
--------------------------------------------------------------------------------
(7) Sole Voting Power
-----------------------------------
Number of (8) Shared Voting Power
Shares Beneficially 46,200,000
Owned
by Each -----------------------------------
Reporting (9) Sole Dispositive Power
Person With
-----------------------------------
(10) Shared Dispositive Power
46,200,000
--------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by each Reporting Person 46,200,000
--------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [ ]
--------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 66.8
--------------------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) CO
--------------------------------------------------------------------------------
10
13D
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CUSIP No. 67612W108 Page 11 of 38
Pages
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(1) Name of Reporting Person
TIG INSURANCE GROUP, INC.
--------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
(3) SEC Use Only
--------------------------------------------------------------------------------
(4) Source of Funds
OO
--------------------------------------------------------------------------------
(5) Check box if Disclosure of Legal Proceedings is Required Pursuant to
Item 2(d) or 2(e). [ ]
--------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
California
--------------------------------------------------------------------------------
(7) Sole Voting Power
-----------------------------------
Number of (8) Shared Voting Power
Shares Beneficially 46,200,000
Owned
by Each -----------------------------------
Reporting (9) Sole Dispositive Power
Person With
-----------------------------------
(10) Shared Dispositive Power
46,200,000
--------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by each Reporting Person 46,200,000
--------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [ ]
--------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 66.8
--------------------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) CO
--------------------------------------------------------------------------------
11
13D
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CUSIP No. 67612W108 Page 12 of 38
Pages
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(1) Name of Reporting Person
TIG INSURANCE COMPANY
--------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
(3) SEC Use Only
--------------------------------------------------------------------------------
(4) Source of Funds
OO
--------------------------------------------------------------------------------
(5) Check box if Disclosure of Legal Proceedings is Required Pursuant to
Item 2(d) or 2(e). [ ]
--------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
California
--------------------------------------------------------------------------------
(7) Sole Voting Power
-----------------------------------
Number of (8) Shared Voting Power
Shares Beneficially 3,916,841
Owned
by Each -----------------------------------
Reporting (9) Sole Dispositive Power
Person With
-----------------------------------
(10) Shared Dispositive Power
3,916,841
--------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by each Reporting Person 3,916,841
--------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [ ]
--------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 5.7
--------------------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) CO
--------------------------------------------------------------------------------
12
13D
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CUSIP No. 67612W108 Page 13 of 38
Pages
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(1) Name of Reporting Person
ORH HOLDINGS INC.
--------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
(3) SEC Use Only
--------------------------------------------------------------------------------
(4) Source of Funds
OO
--------------------------------------------------------------------------------
(5) Check box if Disclosure of Legal Proceedings is Required Pursuant to
Item 2(d) or 2(e). [ ]
--------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
Delaware
--------------------------------------------------------------------------------
(7) Sole Voting Power
-----------------------------------
Number of (8) Shared Voting Power
Shares Beneficially 6,166,667
Owned
by Each -----------------------------------
Reporting (9) Sole Dispositive Power
Person With
-----------------------------------
(10) Shared Dispositive Power
6,166,667
--------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by each Reporting Person 6,166,667
--------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [ ]
--------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 8.9
--------------------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) CO
--------------------------------------------------------------------------------
13
13D
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CUSIP No. 67612W108 Page 14 of 38
Pages
--------------------------------------------------------------------------------
(1) Name of Reporting Person
UNITED STATES FIRE INSURANCE COMPANY
--------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
(3) SEC Use Only
--------------------------------------------------------------------------------
(4) Source of Funds
OO
--------------------------------------------------------------------------------
(5) Check box if Disclosure of Legal Proceedings is Required Pursuant to
Item 2(d) or 2(e). [ ]
--------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
Delaware
--------------------------------------------------------------------------------
(7) Sole Voting Power
-----------------------------------
Number of (8) Shared Voting Power
Shares Beneficially 800,000
Owned
by Each -----------------------------------
Reporting (9) Sole Dispositive Power
Person With
-----------------------------------
(10) Shared Dispositive Power
800,000
--------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by each Reporting Person 800,000
--------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [ ]
--------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 1.2
--------------------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) CO
--------------------------------------------------------------------------------
14
This Amendment No. 5 amends the Statement on Schedule 13D filed with
the Securities and Exchange Commission on June 27, 2001 by V. Prem Watsa, The
Sixty Two Investment Company Limited, Fairfax Financial Holdings Limited
("Fairfax"), Odyssey Re Holdings Ltd., Odyssey Re Group Ltd., Fairfax Inc., TIG
Holdings, Inc., TIG Insurance Group, Inc., TIG Insurance Company, and ORH
Holdings Inc., as amended by Amendment No. 1 thereto filed on March 7, 2003, by
Amendment No. 2 thereto filed on November 23, 2004, by Amendment No. 3 thereto
filed on October 12, 2005 and by Amendment No. 4 thereto filed on December 27,
2005 (such schedule, as amended, the "Schedule 13D") in relation to shares of
common stock, par value $0.01 per share, of Odyssey Re Holdings Corp.
("Shares").
Amendment No. 1 to the Schedule 13D related to the purchase by
Fairfax, through a subsidiary, pursuant to a master note purchase agreement,
dated as of March 3, 2003, of 4,300,000 outstanding Shares (the "2003 Purchased
Shares") in a private transaction. As consideration for the Purchased Shares, a
subsidiary of Fairfax issued $78,045,000 aggregate principal amount of 3.15%
Exchangeable Notes due February 28, 2010 (the "Old Exchangeable Notes"),
exchangeable into 4,300,000 Shares.
Amendment No. 2 to the Schedule 13D related to the purchase (the "2004
Purchase") by a subsidiary of Fairfax of its $78,045,000 aggregate principal
amount of Old Exchangeable Notes in a private transaction. As consideration, the
subsidiary issued $100,964,000 aggregate principal amount of new 3.15%
Exchangeable Notes due November 19, 2009 (the "New Exchangeable Notes"). The New
Exchangeable Notes are exchangeable into 4,300,000 Shares. The Old Exchangeable
Notes have been cancelled.
Amendment No. 3 to the Schedule 13D related to the purchase (the "2005
Purchase") by a subsidiary of Fairfax of 3,100,000 Shares in Odyssey Re Holdings
Corp.'s underwritten public offering of 4,100,000 Shares made pursuant to
Odyssey Re Holdings Corp.'s prospectus supplement dated October 6, 2005, filed
with the Securities and Exchange Commission on October 7, 2005.
Amendment No. 4 to the Schedule 13D related to the transfer (the "2005
Transfer") by TIG Insurance Company, a wholly-owned subsidiary of Fairfax, of
7,744,125 Shares to TIG Insurance Group, Inc., another wholly-owned subsidiary
of Fairfax, in exchange for all of the issued and outstanding shares of common
stock of Fairmont Specialty Group, Inc., another wholly-owned subsidiary of
Fairfax.
This Amendment No. 5 to the Schedule 13D relates to the purchase (the
"Purchase") by Fairfax Inc., a wholly-owned subsidiary of Fairfax, of 1,000,000
Shares from TIG Insurance Company, another wholly-owned subsidiary of Fairfax.
The following amendments to Items 2, 3, 4, 5, 6 and 7 of the Schedule
13D are hereby made.
ITEM 2. IDENTITY AND BACKGROUND
Item 2 of the Schedule 13D is hereby amended in its entirety to read
as follows:
15
"This statement is being jointly filed by the following persons
(collectively, the "Reporting Persons"):
1. V. Prem Watsa, an individual, is a citizen of Canada. Mr. Watsa's
business address is 95 Wellington Street West, Suite 800,
Toronto, Ontario, M5J 2N7;
2. 1109519 Ontario Limited ("1109519"), a corporation incorporated
under the laws of Ontario, is controlled by V. Prem Watsa. The
principal business of 1109519 is as an investment holding
company. The principal business address and principal office
address of 1109519 is 95 Wellington Street West, Suite 800,
Toronto, Ontario, M5J 2N7;
3. The Sixty Two Investment Company Limited ("Sixty Two"), a
corporation incorporated under the laws of British Columbia, is
controlled by V. Prem Watsa. The principal business of Sixty Two
is as an investment holding company. The principal business
address and principal office address of Sixty Two is 1600
Cathedral Place, 925 West Georgia St., Vancouver, British
Columbia, Canada, V6C 3L3;
4. 810679 Ontario Limited ("810679"), a corporation incorporated
under the laws of Ontario, is controlled by V. Prem Watsa. The
principal business of 810679 is as an investment holding company.
The principal business address and principal office address of
810679 is 95 Wellington Street West, Suite 800, Toronto, Ontario,
Canada, M5J 2N7;
5. Fairfax, a corporation incorporated under the laws of Canada, is
controlled by Sixty Two, 1109519 and V. Prem Watsa. Fairfax is a
financial services holding company. The principal business and
principal office address of Fairfax is 95 Wellington Street West,
Suite 800, Toronto, Ontario, Canada, M5J 2N7;
6. FFHL Group Ltd., a corporation incorporated under the laws of
Canada, is a wholly-owned subsidiary of Fairfax. The principal
business of FFHL Group Ltd. is as a holding company. The
principal business address and principal office address of FFHL
Group Ltd. is 95 Wellington Street West, Suite 800, Toronto,
Ontario, Canada, M5J 2N7;
7. Fairfax Inc., a corporation incorporated under the laws of
Wyoming, is a wholly-owned subsidiary of Fairfax. The principal
business of Fairfax Inc. is as a holding company. The principal
business address and principal office address of Fairfax Inc. is
300 First Stamford Place, Stamford, CT 06902;
8. Fairfax Financial (US) LLC ("Fairfax LLC"), a Delaware limited
liability company, is a wholly-owned subsidiary of Fairfax. The
sole member of Fairfax LLC is Fairfax Inc. The principal business
of Fairfax LLC is as a holding company. The principal business
address and principal office
16
address of Fairfax LLC is 5205 North O'Connor Blvd., Irving,
Texas 75039;
9. TIG Holdings, Inc., a corporation incorporated under the laws of
Delaware, is a wholly-owned subsidiary of Fairfax. The principal
business of TIG Holdings, Inc. is as a holding company. The
principal business address and principal office address of TIG
Holdings, Inc. is 5205 North O'Connor Blvd., Irving, Texas 75039;
10. TIG Insurance Group, Inc., a corporation incorporated under the
laws of Delaware, is a wholly-owned subsidiary of Fairfax. The
principal business of TIG Insurance Group, Inc. is as a holding
company. The principal business address and principal office
address of TIG Insurance Group, Inc. is 5205 North O'Connor
Blvd., Irving, Texas 75039;
11. TIG Insurance Company ("TIC"), a corporation incorporated under
the laws of California, is a wholly-owned subsidiary of Fairfax.
The principal business of TIC is property/casualty insurance. The
principal business address and principal office address of TIC is
5205 North O'Connor Blvd., Irving, Texas 75039;
12. ORH Holdings Inc. ("ORH Holdings"), a corporation incorporated
under the laws of Delaware, is a wholly-owned subsidiary of
Fairfax. The principal business of ORH Holdings is as a holding
company. The principal business address and principal office
address of ORH Holdings is 300 First Stamford Place, Stamford,
Connecticut 06902; and
13. United States Fire Insurance Company ("US Fire"), a corporation
incorporated under the laws of Delaware, is a wholly-owned
subsidiary of Fairfax. The principal business of US Fire is
insurance. The principal business address and principal office
address of US Fire is 305 Madison Avenue, P.O. Box 1973,
Morristown, New Jersey 07962.
Neither the filing of this Schedule 13D nor the information contained
herein shall be deemed to constitute an affirmation by V. Prem Watsa, 1109519,
Sixty Two, 810679, Fairfax, FFHL Group Ltd., Fairfax Inc., Fairfax LLC, TIG
Holdings, Inc., TIG Insurance Group, Inc., TIC, ORH Holdings or US Fire that
such person is the beneficial owner of the Shares referred to herein for
purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, as
amended (the "Exchange Act"), or for any other purpose, and such beneficial
ownership is expressly disclaimed.
The name, present principal occupation or employment and name,
principal business and address of any corporation or other organization in which
such employment is conducted and the citizenship of each executive officer and
director, or each member of the board of managers, as applicable, of each of the
Reporting Persons is set forth in Annex A, B, C, D, E, F, G, H, I, J, K or L, as
the case may be, and such Annexes are incorporated herein by reference.
17
Pursuant to Rule 13d-1(k) under the Exchange Act, the Reporting
Persons have agreed to file jointly one statement with respect to their
ownership of the Shares.
During the last five years, none of the Reporting Persons, and, to the
best of each such Reporting Person's knowledge, none of the persons listed in
Annex A, B, C, D, E, F, G, H, I, J, K or L have been (a) convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors) or (b) a party
to a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or is subject to a judgment,
decree or final order enjoining future violations of, or prohibiting or
mandating activities subject to, federal or state securities laws or finding any
violation with respect to such laws."
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Item 3 of the Schedule 13D is hereby amended in its entirety to read
as follows:
"Fairfax Inc. purchased the 1,000,000 Shares for an aggregate purchase
price of $25,080,000. The source of the funds for the purchase was cash."
ITEM 4. PURPOSE OF TRANSACTION
Item 4 of the Schedule 13D is hereby amended in its entirety to read
as follows:
"The 2003 Purchased Shares were acquired and the 2004 Purchase, the
2005 Purchase, the 2005 Transfer and the Purchase were made by Fairfax for
investment purposes and in order for Odyssey Re Holdings Corp. ("OdysseyRe") to
be included in Fairfax's U.S. consolidated tax group so as to more quickly use
Fairfax's future income tax asset and to allow for the cash flow benefit of
receiving tax sharing payments from OdysseyRe.
The Reporting Persons have the following plans and proposals:
(a) The Reporting Persons currently do not intend to acquire or
dispose of Shares, but may formulate plans to do so in the future. The Reporting
Persons intend to review, on a continuous basis, various factors related to
their direct or indirect investment, as the case may be, in OdysseyRe, including
the price and availability of the Shares, subsequent developments affecting
OdysseyRe's business, other investment and business opportunities available to
the Reporting Persons and general stock market and economic conditions. Based
upon these and other factors, the Reporting Persons may decide to purchase
additional Shares or may decide in the future to sell all or part of their
investment in OdysseyRe;
(b) The Reporting Persons have no plans or proposals to cause
OdysseyRe to enter into any extraordinary corporate transaction, such as a
merger, reorganization or liquidation of OdysseyRe or any of its subsidiaries;
(c) The Reporting Persons have no plans or proposals to cause
OdysseyRe or any of its subsidiaries to sell or transfer a material amount of
assets;
18
(d) The Reporting Persons have no plans or proposals which would
result in a change in the present board of directors or management of OdysseyRe,
whether through a change in the number or term of directors or otherwise;
(e) The Reporting Persons have no plans to make any material change
in the present capitalization or dividend policy of OdysseyRe;
(f) The Reporting Persons have no plans or proposals to cause
OdysseyRe to make any other material change in its business or corporate
structure;
(g) The Reporting Persons have no plans or proposals to cause
OdysseyRe to change its certificate of incorporation or bylaws or to take other
actions which may impede the acquisition of control of OdysseyRe by any person;
(h) The Reporting Persons have no plans or proposals to cause the
Shares to be delisted from any securities exchange or cease to be authorized to
be quoted in an inter-dealer quotation system;
(i) The Reporting Persons have no plans or proposals to cause the
Shares to become eligible for termination of registration pursuant to Section
12(g) of the Exchange Act; and
(j) The Reporting Persons have no plans or proposals to take any
actions similar to those enumerated above."
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Item 5 of the Schedule 13D is hereby amended in its entirety to
as follows:
"(a) Based on the most recent information available, the aggregate
number and percentage of the Shares (the securities identified pursuant to Item
1 of this Schedule 13D) that are beneficially owned by each of the Reporting
Persons is set forth in boxes 11 and 13 of the second part of the cover page to
this Schedule 13D for each of the Reporting Persons, and such information is
incorporated herein by reference.
(b) The number of Shares as to which each of the Reporting Persons
has sole voting power, shared voting power, sole dispositive power and shared
dispositive power is set forth in boxes 7, 8, 9 and 10, respectively, on the
second part of the cover page to this Schedule 13D for each of the Reporting
Persons, and such information is incorporated herein by reference.
(c) Except as described herein, none of the Reporting Persons, nor,
to the best knowledge of the Reporting Persons, any person listed in Annex A, B,
C, D, E, F, G, H, I, J, K or L beneficially owns, or during the last 60 days has
acquired or disposed of, any Shares.
To the best knowledge of the Reporting Persons, the following persons
beneficially own approximately the following amounts of Shares and have sole
voting power and sole dispositive power with respect to such Shares, except that
Mr. Griffiths shares voting and dispositive power over 5,000 of such Shares with
Fourfourtwo Investments Limited, a company
19
controlled by Mr. Griffiths (in each case the amount of Shares accounts for less
than 1% of the total outstanding amount of Shares):
James F. Dowd 21,113
Andrew A. Barnard 511,076
Anthony Griffiths 10,000
Robbert Hartog 5,000
Brandon W. Sweitzer 4,750
Frank B. Bennett 4,050
Samuel A. Mitchell 3,000
The Shares shown above for James F. Dowd and Andrew A. Barnard include
Shares acquired pursuant to OdysseyRe's Employee Share Purchase Plan within the
last 60 days.
(d) No person is known to have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of, Shares
held by the Reporting Persons other than each of the Reporting Persons.
(e) Not applicable."
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
Item 6 of the Schedule 13D is hereby amended in its entirety to read
as follows:
"Except as described herein, none of the Reporting Persons, nor to the
best knowledge of each of the Reporting Persons, any person listed in Annex A,
B, C, D, E, F, G, H, I, J, K or L has any contract, arrangement, understanding
or relationship (legal or otherwise) with any person with respect to any
securities of OdysseyRe, including, but not limited to, transfer or voting of
any of the securities, finder's fees, joint ventures, loan or option
arrangements, puts or calls, guarantees of profits, division of profits or loss,
or the giving or withholding of proxies other than as described below.
Pursuant to a master note purchase agreement among Fairfax LLC, the
Purchaser, Fairfax, as guarantor, and Banc of America Securities LLC, as agent,
dated as of November 19, 2004 (the "Master Note Purchase Agreement"), in
consideration for the Old Exchangeable Notes, Fairfax LLC issued (1) $68,092,000
aggregate principal amount of New Exchangeable Notes that are exchangeable into
2,900,000 Shares at the option of the Purchaser during the period beginning on
and including November 3, 2006 through and including November 17, 2006, such
date the "Exchange Period End Date" for such Exchangeable Notes and (2)
$32,872,000 aggregate principal amount of New Exchangeable Notes that are
exchangeable into 1,400,000 Shares at the option of the Purchaser during the
period beginning on and including August 4, 2006 through and including August
18, 2006, such date the "Exchange Period End Date" for such Exchangeable Notes.
The Old Exchangeable Notes have been cancelled. In addition, under the Master
Note Purchase Agreement, the New Exchangeable Notes are exchangeable at the
option of the Purchaser if at any time prior to the applicable Exchange Period
End Date (a) OdysseyRe shall declare either (i) a dividend on the Shares to be
paid in property other than cash or Shares or (ii) a quarterly cash dividend in
excess of $0.03125 per
20
Share, or (b) Fairfax LLC fails to reimburse the Purchaser for certain costs.
The performance of Fairfax LLC's obligations under the New Exchangeable Notes
has been guaranteed by Fairfax and, pursuant to a pledge agreement among Fairfax
LLC, the Purchaser, and Banc of America Securities LLC, as agent, dated as of
November 19, 2004 (the "Pledge Agreement"), secured by a pledge of the 2003
Purchased Shares in favor of the Purchaser. Immediately following the 2004
Purchase, the Purchaser transferred the New Exchangeable Notes to Intrepid
Portfolios LLC ("Intrepid"), an affiliate of Bank of America, N.A. In addition,
the Purchaser transferred its rights and obligations, and Intrepid assumed the
Purchaser's rights and obligations, under the Master Note Purchase Agreement and
the Pledge Agreement.
OdysseyRe has entered into a registration rights agreement with TIC
and ORH Holdings. The registration rights agreement includes rights to require
OdysseyRe to register the offer and sale of Shares held by TIC and ORH Holdings
on up to three different occasions. Each of TIC and ORH Holdings may also
require OdysseyRe to file registration statements on Form S-3. The registration
rights agreement also includes the right to require OdysseyRe to include
OdysseyRe common stock held by TIC and ORH Holdings in up to three future
registration statements that OdysseyRe files with the Securities and Exchange
Commission. Under the agreement, OdysseyRe also provides TIC and ORH Holdings
with the right to participate in any securities offerings by OdysseyRe in order
to maintain their percentage ownership. These rights are subject to various
conditions and limitations. Under the registration rights agreement, OdysseyRe
will bear all expenses incurred in connection with the registrations, other than
any underwriting discounts and commissions. Registration of Shares upon the
exercise of these registration rights would result in such Shares becoming
freely tradable without restriction under the Securities Act of 1933, as
amended.
Messrs. Andrew A. Barnard, James F. Dowd, Frank B. Bennett, Robbert
Hartog, Anthony Griffiths and Brandon W. Sweitzer have been granted stock
options to purchase Shares in the amount of 45,000, 11,250, 2,500, 3,750, 3,750
and 3,750, respectively, under the OdysseyRe 2002 Stock Incentive Plan that have
vested but which have not been exercised."
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Item 7 of the Schedule 13D is hereby amended by the addition of the
following exhibits to the end thereof:
5.1 Joint filing agreement dated as of February 28, 2006 between
V. Prem Watsa, 1109519 Ontario Limited, The Sixty Two
Investment Company Limited, 810679 Ontario Limited, Fairfax
Financial Holdings Limited, FFHL Group Limited, Fairfax
Inc., Fairfax Financial (US) LLC, TIG Holdings, Inc., TIG
Insurance Group, Inc., TIG Insurance Company, ORH Holdings
Inc., and United States Fire Insurance Company.
21
SIGNATURES
After reasonable inquiry and to the best knowledge and belief of the
undersigned, such person certifies that the information set forth in this
statement with respect to such person is true, complete and correct.
IN WITNESS WHEREOF, the undersigned has executed this instrument as of the
28th day of February, 2006.
V. PREM WATSA
/s/ V. Prem Watsa
----------------------------------------
1109519 ONTARIO LIMITED
By: /s/ V. Prem Watsa
------------------------------------
Name: V. Prem Watsa
Title: President
THE SIXTY TWO INVESTMENT
COMPANY LIMITED
By: /s/ V. Prem Watsa
------------------------------------
Name: V. Prem Watsa
Title: President
810679 ONTARIO LIMITED
By: /s/ V. Prem Watsa
------------------------------------
Name: V. Prem Watsa
Title: President
FAIRFAX FINANCIAL HOLDINGS LIMITED
By: /s/ Eric P. Salsberg
----------------------------------------
Name: Eric P. Salsberg
Title: Vice President, Corporate Affairs
FFHL GROUP LTD.
By: /s/ Eric P. Salsberg
----------------------------------------
Name: Eric P. Salsberg
Title: Vice President
FAIRFAX INC.
By: /s/ Eric P. Salsberg
----------------------------------------
Name: Eric P. Salsberg
Title: Vice President
FAIRFAX FINANCIAL (US) LLC.
By: /s/ John K. Cassil
----------------------------------------
Name: John K. Cassil
Title: President and Manager
TIG HOLDINGS, INC.
By: /s/ R. Scott Donovan
----------------------------------------
Name: R. Scott Donovan
Title: President
TIG INSURANCE GROUP, INC.
By: /s/ R. Scott Donovan
------------------------------------
Name: R. Scott Donovan
Title: President
TIG INSURANCE COMPANY
By: /s/ R. Scott Donovan
------------------------------------
Name: R. Scott Donovan
Title: President
ORH HOLDINGS INC.
By: /s/ Eric P. Salsberg
------------------------------------
Name: Eric P. Salsberg
Title: Vice President
UNITED STATES FIRE INSURANCE
COMPANY
By: /s/ Carol Ann Soos
------------------------------------
Name: Carol Ann Soos
Title: Vice President
ANNEX INDEX
ANNEX DESCRIPTION
----- -----------
A Directors and Executive Officers of 1109519 Ontario Limited
B Directors and Executive Officers of The Sixty Two Investment
Company Limited
C Directors and Executive Officers of 810679 Ontario Limited
D Directors and Executive Officers of Fairfax Financial Holdings
Limited
E Directors and Executive Officers of FFHL Group Ltd.
F Directors and Executive Officers of Fairfax Inc.
G Members of the Board of Managers and Executive Officers of
Fairfax FinanciaL (US) LLC
H Directors and Executive Officers of TIG Holdings, Inc.
I Directors and Executive Officers of TIG Insurance Group, Inc.
J Directors and Executive Officers of TIG Insurance Company
K Directors and Executive Officers of ORH Holdings Inc.
L Directors and Executive Officers of United States Fire Insurance
Company
25
ANNEX A
DIRECTORS AND EXECUTIVE OFFICERS OF
1109519 ONTARIO LIMITED
The following table sets forth certain information with respect to the
directors and executive officers of 1109519 Ontario Limited.
PRESENT PRINCIPAL OCCUPATION OR
EMPLOYMENT AND THE NAME, PRINCIPAL
BUSINESS AND ADDRESS OF ANY CORPORATION
OR OTHER ORGANIZATION IN WHICH SUCH
NAME EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- --------------------------------------- -----------
V. Prem Watsa Chairman and Chief Executive Officer, Canadian
(President and Director) Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
Eric P. Salsberg Vice President, Corporate Affairs, Fairfax Canadian
(Assistant Secretary and Financial Holdings Limited
Director)
26
ANNEX B
DIRECTORS AND EXECUTIVE OFFICERS OF
THE SIXTY TWO INVESTMENT COMPANY LIMITED
The following table sets forth certain information with respect to the
directors and executive officers of The Sixty Two Investment Company Limited.
PRESENT PRINCIPAL OCCUPATION OR
EMPLOYMENT AND THE NAME, PRINCIPAL
BUSINESS AND ADDRESS OF ANY CORPORATION
OR OTHER ORGANIZATION IN WHICH SUCH
NAME EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- --------------------------------------- -----------
V. Prem Watsa Chairman and Chief Executive Officer, Canadian
(President and Director) Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
Eric P. Salsberg Vice President, Corporate Affairs, Fairfax Canadian
(Assistant Secretary and Financial Holdings Limited
Director)
27
ANNEX C
DIRECTORS AND EXECUTIVE OFFICERS OF
810679 ONTARIO LIMITED
The following table sets forth certain information with respect to the
directors and executive officers of 810679 Ontario Limited.
PRESENT PRINCIPAL OCCUPATION OR
EMPLOYMENT AND THE NAME, PRINCIPAL
BUSINESS AND ADDRESS OF ANY CORPORATION
OR OTHER ORGANIZATION IN WHICH SUCH
NAME EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- --------------------------------------- -----------
V. Prem Watsa Chairman and Chief Executive Officer, Canadian
(President and Director) Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
Eric P. Salsberg Vice President, Corporate Affairs, Canadian
(Assistant Secretary and Fairfax Financial Holdings Limited
Director)
28
ANNEX D
DIRECTORS AND EXECUTIVE OFFICERS OF
FAIRFAX FINANCIAL HOLDINGS LIMITED
The following table sets forth certain information with respect to the
directors and executive officers of Fairfax Financial Holdings Limited.
PRESENT PRINCIPAL OCCUPATION OR
EMPLOYMENT AND THE NAME, PRINCIPAL
BUSINESS AND ADDRESS OF ANY CORPORATION
OR OTHER ORGANIZATION IN WHICH SUCH
NAME EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- --------------------------------------- -----------
V. Prem Watsa Chairman and Chief Executive Officer, Canadian
(Chairman and Chief Executive Fairfax Financial Holdings Limited
Officer) 95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
Frank B. Bennett President, Artesian Management Inc. United States
(Director) 301 Carlson Parkway, Suite 120
Minnetonka, MN 55305
Robbert Hartog President, Robhar Investments Ltd. Canadian
(Director) R.R. #1
Perkinsfield, Ontario L0L 2J0
Anthony Griffiths Independent Business Consultant Canadian
(Director) Toronto, Ontario, Canada
Brandon W. Sweitzer Senior Advisor to the President of the United States
(Director) Chamber of Commerce of The United States
1615 H Street, NW
Washington, DC 20062
Paul Murray President, Pine Smoke Investments Canadian
Toronto, Ontario Canada
Greg Taylor Vice President and Chief Canadian
(Vice President and Chief Financial Officer,
Financial Officer) Fairfax Financial Holdings Limited
Eric P. Salsberg Vice President, Corporate Affairs, Canadian
(Vice President, Corporate Fairfax Financial Holdings Limited
Affairs)
Paul Rivett Vice President, Canadian
(Vice President) Fairfax Financial Holdings Limited
29
ANNEX E
DIRECTORS AND EXECUTIVE OFFICERS OF
FFHL GROUP LTD.
The following table sets forth certain information with respect to the
directors and executive officers of FFHL Group Ltd.
PRESENT PRINCIPAL OCCUPATION OR
EMPLOYMENT AND THE NAME, PRINCIPAL
BUSINESS AND ADDRESS OF ANY CORPORATION
OR OTHER ORGANIZATION IN WHICH SUCH
NAME EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- --------------------------------------- -----------
James F. Dowd President and Chief Executive Officer, United States
(Chairman) Fairfax Inc.
300 First Stamford Place
Stamford, Connecticut 06902
Eric P. Salsberg Vice President, Corporate Affairs, Canadian
(Vice President and Director) Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
Bradley P. Martin Vice President, Canadian
(Vice President and Director) Fairfax Financial Holdings Limited
V. Prem Watsa Chairman and Chief Executive Officer, Canadian
(Vice President and Director) Fairfax Financial Holdings Limited
Ronald Schokking Vice President, Finance, Canadian
(Vice President) Fairfax Financial Holdings Limited
M. Jane Williamson Vice President, Canadian
(Director) Fairfax Financial Holdings Limited
30
ANNEX F
DIRECTORS AND EXECUTIVE OFFICERS OF
FAIRFAX INC.
The following table sets forth certain information with respect to the
directors and executive officers of Fairfax Inc.
PRESENT PRINCIPAL OCCUPATION OR
EMPLOYMENT AND THE NAME, PRINCIPAL
BUSINESS AND ADDRESS OF ANY CORPORATION
OR OTHER ORGANIZATION IN WHICH SUCH
NAME EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- --------------------------------------- -----------
Eric P. Salsberg Vice President, Corporate Affairs, Canadian
(Vice President and Director) Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
James F. Dowd Chairman, President and Chief Executive United States
(Chairman, President and Chief Officer, Fairfax Inc.
Executive Officer) 300 First Stamford Place
Stamford, Connecticut 06902
Ronald Schokking Vice President, Finance, Canadian
(Vice President) Fairfax Financial Holdings
Limited
Trevor J. Ambridge Vice President Canadian
(Vice President) Fairfax Inc.
31
ANNEX G
MEMBERS OF THE BOARD OF MANAGERS AND EXECUTIVE OFFICERS OF
FAIRFAX FINANCIAL (US) LLC
The following table sets forth certain information with respect to the
members of the board of managers and executive officers of Fairfax Financial
(US) LLC.
PRESENT PRINCIPAL OCCUPATION OR
EMPLOYMENT AND THE NAME, PRINCIPAL
BUSINESS AND ADDRESS OF ANY CORPORATION
OR OTHER ORGANIZATION IN WHICH SUCH
NAME EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- --------------------------------------- -----------
John K. Cassil Assistant Secretary, United States
(President and Manager) TIG Insurance Company
5205 North O'Connor Blvd.
Irving, Texas 75039
Roland Jackson Vice President, United States
(Manager) Fairfax Inc.
300 First Stamford Place
Stamford, Connecticut 06902
William McManus Managing Director, United States
(Manager) Horizon Management, Inc.
8318 Pineville-Matthews Road
Suite 390 G
Charlotte, NC 28226
Bradley P. Martin Vice President, Canadian
(Vice President) Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
32
ANNEX H
DIRECTORS AND EXECUTIVE OFFICERS OF
TIG HOLDINGS, INC.
The following table sets forth certain information with respect to the
directors and executive officers of TIG Holdings, Inc.
PRESENT PRINCIPAL OCCUPATION OR
EMPLOYMENT AND THE NAME, PRINCIPAL
BUSINESS AND ADDRESS OF ANY CORPORATION
OR OTHER ORGANIZATION IN WHICH SUCH
NAME EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- --------------------------------------- -----------
V. Prem Watsa Chairman and Chief Executive Officer, Canadian
(Chairman and Director) Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
Trevor J. Ambridge Vice President, Canadian
(Director) Fairfax Inc.
300 First Stamford Place
Stamford, Connecticut 06902
Dennis C. Gibbs Chief Executive Officer and Director, United States
(Chief Executive Officer and TIG Insurance Company
Director) 5205 North O'Connor Blvd.
Irving, Texas 75039
R. Scott Donovan President and Director, United States
(President and Director) TIG Insurance Company
Michael J. Sluka Senior Vice President, Chief Financial Officer United States
(Senior Vice President, Chief and Treasurer and Director,
Financial Officer and Treasurer) TIG Insurance Company
33
ANNEX I
DIRECTORS AND EXECUTIVE OFFICERS OF
TIG INSURANCE GROUP, INC.
The following table sets forth certain information with respect to the
directors and executive officers of TIG Insurance Group, Inc.
PRESENT PRINCIPAL OCCUPATION OR
EMPLOYMENT AND THE NAME, PRINCIPAL
BUSINESS AND ADDRESS OF ANY CORPORATION
OR OTHER ORGANIZATION IN WHICH SUCH
NAME EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- --------------------------------------- -----------
R. Scott Donovan President and Director, United States
(President and Director) TIG Insurance Company
5205 North O'Connor Blvd.,
Irving, Texas 75039
Dennis C. Gibbs Chief Executive Officer and Director, United States
(Chief Executive Officer and TIG Insurance Company
Director)
Charles G. Ehrlich Senior Vice President, Secretary and General United States
(Senior Vice President, General Counsel
Counsel and Secretary) Riverstone Claims Management LLC
250 Commercial Street, Suite 5000
Manchester, NH 03101
Michael J. Sluka Senior Vice President, Chief Financial United States
(Senior Vice President, Chief Officer, Treasurer and Director,
Financial Officer, Treasurer, and TIG Insurance Company
Director)
William J. Gillett Managing Director -- Europe, United States
(Director) RiverStone Holdings Limited
2nd Floor, Mind House
77 Mansell St.
London, UK E18AF
34
ANNEX J
DIRECTORS AND EXECUTIVE OFFICERS OF
TIG INSURANCE COMPANY
The following table sets forth certain information with respect to the
directors and executive officers of TIG Insurance Company.
PRESENT PRINCIPAL OCCUPATION OR
EMPLOYMENT AND THE NAME, PRINCIPAL
BUSINESS AND ADDRESS OF ANY CORPORATION
OR OTHER ORGANIZATION IN WHICH SUCH
NAME EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- --------------------------------------- -----------
Dennis C. Gibbs Chairman, Chief Executive Officer and United States
(Chairman, Chief Executive Director,
Officer and Director) TIG Insurance Company
5205 North O'Connor Blvd.
Irving, Texas 75039
R. Scott Donovan President and Director, United States
(President and Director) TIG Insurance Company
Charles G. Ehrlich Senior Vice President, Secretary and General United States
(Senior Vice President and Counsel
Director) Riverstone Claims Management LLC
250 Commercial Street, Suite 5000
Manchester, NH 03101
John M. Parker Senior Vice President, General Counsel, and United States
(Senior Vice President, General Secretary,
Counsel, and Secretary) TIG Insurance Company
Robert L. Gossett Senior Vice President and Director, United States
(Senior Vice President and TIG Insurance Company
Director)
Michael J. Sluka Senior Vice President, Chief Financial United States
(Senior Vice President, Chief Officer, Treasurer and Director,
Financial Officer, Treasurer and TIG Insurance Company
Director)
35
ANNEX K
DIRECTORS AND EXECUTIVE OFFICERS OF
ORH HOLDINGS INC.
The following table sets forth certain information with respect to the
directors and executive officers of ORH Holdings Inc.
PRESENT PRINCIPAL OCCUPATION OR
EMPLOYMENT AND THE NAME, PRINCIPAL
BUSINESS AND ADDRESS OF ANY CORPORATION
OR OTHER ORGANIZATION IN WHICH SUCH
NAME EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- --------------------------------------- -----------
Andrew A. Barnard President and Chief Executive Officer, United States
(President) Odyssey Re Holdings Corp.
300 First Stamford Place,
Stamford, Connecticut 06902
Eric P. Salsberg Vice President, Corporate Affairs, Canadian
(Vice President and Director) Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario
Bradley P. Martin Vice President, Canadian
(Vice President and Director) Fairfax Financial Holdings Limited
36
ANNEX L
DIRECTORS AND EXECUTIVE OFFICERS OF
UNITED STATES FIRE INSURANCE COMPANY
The following table sets forth certain information with respect to the
directors and executive officers of United States Fire Insurance Company.
PRESENT PRINCIPAL OCCUPATION OR
EMPLOYMENT AND THE NAME, PRINCIPAL
BUSINESS AND ADDRESS OF ANY CORPORATION
OR OTHER ORGANIZATION IN WHICH SUCH
NAME EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- --------------------------------------- -----------
Nikolas Antonopoulos Chief Executive Officer and President, United States
(Chief Executive Officer and Crum & Forster Holdings Corp. and various
Chairman) other insurance subsidiaries
305 Madison Avenue
Morristown, NJ 07962
Joseph F. Braunstein, Jr. President and Director, United States
(President and Director) United States Fire Insurance Company
305 Madison Avenue
Morristown, NJ 07962
Mary Jane Robertson Executive Vice President, Chief Financial United States
(Executive Vice President, Chief Officer and Treasurer,
Financial Officer, Treasurer and Crum & Forster Holdings Corp. and various
Director) other insurance subsidiaries
Dennis J. Hammer Senior Vice President and Controller, United States
(Senior Vice President and United States Fire Insurance Company
Controller)
37
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
----------- -----------
5.1 Joint filing agreement dated as of February 28, 2006
between V. Prem Watsa, 1109519 Ontario Limited,
The Sixty Two Investment Company Limited, 810679
Ontario Limited, Fairfax Financial Holdings
Limited, FFHL Group Limited, Fairfax Inc., Fairfax
Financial (US) LLC, TIG Holdings, Inc., TIG
Insurance Group, Inc., TIG Insurance Company, ORH
Holdings Inc., and United States Fire Insurance
Company.
38