SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
AMENDMENT NO. 1 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 -
Brice T. Voran
Shearman & Sterling
Commerce Court West
199 Bay Street, Suite 4405
Toronto, Ontario M5L 1E8
Telephone (416) 360-8484
March 3, 2003
-------------
(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 because 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).
CUSIP NO. 67612W108 13D PAGE 1 OF 12 PAGES
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSON
V. PREM WATSA
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
00
--------------------------------------------------------------------------------
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
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY 52,364,400
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH 52,364,400
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
52,364,400
--------------------------------------------------------------------------------
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)
80.6
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
--------------------------------------------------------------------------------
CUSIP NO. 67612W108 13D PAGE 2 OF 12 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
00
--------------------------------------------------------------------------------
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
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY 52,364,400
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH 52,364,400
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
52,364,400
--------------------------------------------------------------------------------
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)
80.6
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
--------------------------------------------------------------------------------
CUSIP NO. 67612W108 13D PAGE 3 OF 12 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
00
--------------------------------------------------------------------------------
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
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY 52,364,400
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH 52,364,400
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
52,364,400
--------------------------------------------------------------------------------
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)
80.6
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
--------------------------------------------------------------------------------
CUSIP NO. 67612W108 13D PAGE 4 OF 12 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
00
--------------------------------------------------------------------------------
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
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY 52,364,400
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH 52,364,400
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
52,364,400
--------------------------------------------------------------------------------
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)
80.6
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
--------------------------------------------------------------------------------
CUSIP NO. 67612W108 13D PAGE 5 OF 12 PAGES
--------------------------------------------------------------------------------
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
00
--------------------------------------------------------------------------------
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
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY 52,364,400
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH 52,364,400
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
52,364,400
--------------------------------------------------------------------------------
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)
80.6
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
--------------------------------------------------------------------------------
CUSIP NO. 67612W108 13D PAGE 6 OF 12 PAGES
--------------------------------------------------------------------------------
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
00
--------------------------------------------------------------------------------
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
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY 52,364,400
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH 52,364,400
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
52,364,400
--------------------------------------------------------------------------------
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)
80.6
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
--------------------------------------------------------------------------------
CUSIP NO. 67612W108 13D PAGE 7 OF 12 PAGES
--------------------------------------------------------------------------------
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
00
--------------------------------------------------------------------------------
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
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY 52,364,400
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH 52,364,400
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
52,364,400
--------------------------------------------------------------------------------
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)
80.6
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
--------------------------------------------------------------------------------
CUSIP NO. 67612W108 13D PAGE 8 OF 12 PAGES
--------------------------------------------------------------------------------
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
00
--------------------------------------------------------------------------------
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
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY 4,300,000
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH 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)
6.6
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
--------------------------------------------------------------------------------
CUSIP NO. 67612W108 13D PAGE 9 OF 12 PAGES
--------------------------------------------------------------------------------
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
00
--------------------------------------------------------------------------------
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
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY 48,000,000
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH 48,000,000
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
48,000,000
--------------------------------------------------------------------------------
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)
73.8
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
--------------------------------------------------------------------------------
CUSIP NO. 67612W108 13D PAGE 10 OF 12 PAGES
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
TIG INSURANCE GROUP
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
00
--------------------------------------------------------------------------------
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
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY 48,000,000
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH 48,000,000
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
48,000,000
--------------------------------------------------------------------------------
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)
73.8
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
--------------------------------------------------------------------------------
CUSIP NO. 67612W108 13D PAGE 11 OF 12 PAGES
--------------------------------------------------------------------------------
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
00
--------------------------------------------------------------------------------
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
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY 8,622,000
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH 8,622,000
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,622,000
--------------------------------------------------------------------------------
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)
13.3
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
--------------------------------------------------------------------------------
CUSIP NO. 67612W108 13D PAGE 12 OF 12 PAGES
--------------------------------------------------------------------------------
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
00
--------------------------------------------------------------------------------
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
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY 6,178,000
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH 6,178,000
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,178,000
--------------------------------------------------------------------------------
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)
9.5
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
--------------------------------------------------------------------------------
This Amendment No. 1 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, Odyssey Re
Holdings Ltd., Odyssey Re Group Ltd., Fairfax Inc., TIG Holdings, Inc., TIG
Insurance Group, TIG Insurance Company, and ORH Holdings Inc. (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"). This Amendment No. 1
relates to the purchase by Fairfax Financial Holdings Limited, through a
subsidiary, pursuant to a master note purchase agreement, dated as of March 3,
2003, of 4,300,000 outstanding Shares (the "Purchased Shares") in a private
transaction. As consideration for the Purchased Shares, a subsidiary of Fairfax
Financial Holdings Limited issued $78,045,000 aggregate principal amount of
3.15% Exchangeable Notes due February 28, 2010 (the "Exchangeable Notes"), which
are exchangeable into 4,300,000 Shares.
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:
"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;
14
5. Fairfax Financial Holdings Limited ("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 305 Madison Avenue,
Morristown, NJ 07962;
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 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, a corporation incorporated under the laws of
California, is a majority-owned subsidiary of Fairfax. The principal
business of TIG Insurance Group is as a holding company. The principal
business address and principal office address of TIG Insurance Group
is 5205 North O'Connor Blvd., Irving, Texas 75039;
11. TIG Insurance Company ("TIG"), a corporation incorporated under the
laws of California, is a majority-owned subsidiary of Fairfax. The
principal business of TIG is property/casualty insurance. The
principal business address and principal office address of TIG is 5205
North O'Connor Blvd., Irving, Texas 75039; and
12. ORH Holdings Inc. ("ORH"), a corporation incorporated under the laws
of Delaware, is a majority-owned subsidiary of Fairfax. The principal
business of ORH is as a holding company. The principal business
address
15
and principal office address of ORH is 300 First Stamford Place,
Stamford, Connecticut 06902.
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, TIG, or ORH 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 or K, as
the case may be, and such Annexes are incorporated herein by reference.
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 or K 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:
"On March 3, 2003, Fairfax LLC purchased the Purchased Shares from NMS
Services (Cayman) Inc. (the "Purchaser"), an affiliate of Bank of America, N.A.,
as purchaser under the Master Note Purchase Agreement (as defined below). In
exchange for the Purchased Shares, Fairfax LLC issued to the Purchaser
$78,045,000 aggregate principal amount of Exchangeable Notes, which are
exchangeable into 4,300,000 Shares. In addition, in connection with the purchase
of the Purchased Shares, Fairfax has agreed to reimburse the Purchaser for
certain costs."
ITEM 4. PURPOSE OF TRANSACTION
Item 4 of the Schedule 13D is hereby amended in its entirety to read as
follows:
"The Purchased Shares have been acquired by Fairfax for investment purposes
and in order for Odyssey Re Holdings Corp. ("OdysseyRe") to be included in
Fairfax's U.S.
16
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;
(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."
17
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Item 5 of the Schedule 13D is hereby amended in its entirety to read 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 or K 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 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 such Shares with Fourfourtwo
Investments Limited, a company controlled by Mr. Griffiths (in each case the
amount of Shares accounts for less than 1% of the total outstanding amount of
Shares):
Andrew A. Barnard: 179,784
Anthony Griffiths: 5,000
(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 or K 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.
18
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 March 3, 2003 (the "Master Note Purchase Agreement"), in
consideration for the Purchased Shares, Fairfax LLC issued (1) $39,022,500
aggregate principal amount of Exchangeable Notes that are exchangeable into
2,150,000 Shares at the option of the Purchaser on any business day during the
two week period ending December 3, 2004 (the "Exchange Period End Date" for such
Exchangeable Notes) and (2) $39,022,500 aggregate principal amount of
Exchangeable Notes that are exchangeable into 2,150,000 Shares at the option of
the Purchaser on any business day during the two week period ending March 2,
2005 (the "Exchange Period End Date" for such Exchangeable Notes). In addition,
under the Master Note Purchase Agreement, the 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 $0.03 per Share or (b) Fairfax LLC fails
to reimburse the Purchaser for certain costs. The performance of Fairfax LLC's
obligations under the 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 March 3, 2003 (the "Pledge
Agreement"), secured by a pledge of the Purchased Shares in favor of the
Purchaser.
OdysseyRe has entered into a registration rights agreement with TIG and
ORH. The registration rights agreement includes rights to require OdysseyRe to
register the offer and sale of Shares held by TIG and ORH on up to three
different occasions. Each of TIG and ORH 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 TIG and ORH in up to three future registration statements that OdysseyRe
files with the Securities and Exchange Commission. Under the agreement,
OdysseyRe also provides TIG and ORH 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.
Messrs. Andrew A. Barnard, James F. Dowd, Winslow W. Bennett, Robbert
Hartog, and Anthony Griffiths have been granted stock options to purchase Shares
in the amount of 40,000, 15,000, 5,000, 5,000, and 5,000, respectively, under
the OdysseyRe 2002 Stock Incentive Plan."
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Item 7 of the Schedule 13D is hereby amended in its entirety to read as
follows:
1. Registration Rights Agreement dated June 19, 2001 between Odyssey Re
Holdings Corp., TIG Insurance Company and ORH Holdings Inc.
(Previously filed).
19
2. Master Note Purchase Agreement dated as of March 3, 2003.
3. Promissory Note ("Note 1") in the amount of $39,022,500 due February
28, 2010 exchangeable into 2,150,000 Shares.
4. Promissory Note ("Note 2") in the amount of $39,022,500 due February
28, 2010 exchangeable into 2,150,000 Shares.
5. Note Purchase Confirmation No. 1 relating to the purchase of Note 1.
6. Note Purchase Confirmation No. 2 relating to the purchase of Note 2.
7. Pledge Agreement dated as of March 3, 2003.
8. Joint filing agreement dated as of March 5, 2003 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, TIG Insurance Company, and ORH
Holdings Inc.
20
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
5th day of March, 2003.
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
21
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/ Bradley P. Martin
------------------------------------------
Name: Bradley P. Martin
Title: Vice President
TIG HOLDINGS, INC.
By: /s/ Eric P. Salsberg
----------------------------------------
Name: Eric P. Salsberg
Title: Vice President
22
TIG INSURANCE GROUP
By: /s/ Scott Donovan
------------------------------------------
Name: Scott Donovan
Title: President
TIG INSURANCE COMPANY
By: /s/ Scott Donovan
------------------------------------------
Name: Scott Donovan
Title: President
ORH HOLDINGS INC.
By: /s/ Eric P. Salsberg
------------------------------------------
Name: Eric P. Salsberg
Title: Vice President
23
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
J Directors and Executive Officers of TIG Insurance Company
K Directors and Executive Officers of ORH Holdings Inc.
24
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
NAME WHICH SUCH 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 Director) Financial Holdings Limited
25
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
NAME WHICH SUCH EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- -------------------------------------------- -----------
Winslow W. Bennett President, Winwood Holdings Ltd., Canadian
(Chairman) 505 Burrard Street
Suite 1880
Vancouver, British Columbia
V7X 1M6
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 Director) Financial Holdings Limited
26
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
NAME WHICH SUCH EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- -------------------------------------------- -----------
Winslow W. Bennett President, Winwood Holdings Ltd. Canadian
(Chairman) 505 Burrard Street
Suite 1880
Vancouver, British Columbia
V7X 1M6
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 Director) Financial Holdings Limited
27
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
NAME WHICH SUCH EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- ------------------------------------------- -----------
V. Prem Watsa Chairman and Chief Executive Officer, Canadian
(Chairman and Chief Executive Officer) Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
Winslow W. Bennett President, Winwood Holdings Ltd. Canadian
(Director) 505 Burrard Street, Suite 1880
Vancouver, British Columbia
V7X 1M6
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
Trevor J. Ambridge 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 Affairs) Fairfax Financial Holdings Limited
28
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
NAME WHICH SUCH EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- -------------------------------------------- -----------
James F. Dowd President and Chief Executive Officer, United States
(Chairman) Fairfax Inc.
305 Madison Avenue
Morristown, NJ 07960
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
Roland W. Jackson Vice President and Director, United States
(Executive Vice President and Chief Financial Fairfax Inc.
Officer)
29
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
NAME WHICH SUCH 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 President and Chief Executive Officer, United States
(President, Chief Executive Officer and Director) Fairfax Inc.
305 Madison Avenue
Morristown, NJ 07906
Ronald Schokking Vice President, Canadian
(Vice President, Treasurer and Director) Fairfax Financial Holdings
Limited
Roland W. Jackson Vice President and Director, United States
(Vice President and Director) Fairfax Inc.
30
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
NAME WHICH SUCH 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.
305 Madison Avenue
Morristown, NJ 07906
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
31
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
NAME WHICH SUCH 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 and Chief Canadian
(Director) Financial Officer,
Fairfax Financial Holdings Limited
Michael A. Coutu Chairman, TIG Insurance Company, United States
(Director) 5205 North O'Connor Blvd.
Irving, Texas 75039
Dennis C. Gibbs Chief Executive Officer and Director, United States
(Chief Executive Officer and Director) TIG Insurance Company
R. Scott Donovan President and Director, United States
(President and Director) TIG Insurance Company
Michael J. Sluka Senior Vice President, Chief Financial United States
(Senior Vice President, Chief Financial Officer, Officer, Treasurer and Director,
and Treasurer) TIG Insurance Company
32
ANNEX I
DIRECTORS AND EXECUTIVE OFFICERS OF
TIG INSURANCE GROUP
The following table sets forth certain information with respect to the
directors and executive officers of TIG Insurance Group.
PRESENT PRINCIPAL OCCUPATION OR EMPLOYMENT
AND THE NAME, PRINCIPAL BUSINESS AND ADDRESS
OF ANY CORPORATION OR OTHER ORGANIZATION IN
NAME WHICH SUCH EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- -------------------------------------------- -----------
Michael A. Coutu Chairman, United States
(Chairman 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
Dennis C. Gibbs Chief Executive Officer and Director, United States
(Chief Executive Officer and Director) TIG Insurance Company
William J. Gillett Senior Vice President, General Counsel, United States
(Senior Vice President, General Counsel, Secretary, and Director,
Secretary, and Director) TIG Insurance Company
Michael J. Sluka Senior Vice President, Chief Financial United States
(Senior Vice President, Chief Financial Officer, Officer, Treasurer and Director,
Treasurer, and Director) TIG Insurance Company
33
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
NAME WHICH SUCH EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- -------------------------------------------- -----------
Michael A. Coutu Chairman, United States
(Chairman 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 and Director, United States
(Senior Vice President and Director) TIG Insurance Company
Dennis C. Gibbs Chief Executive Officer and Director, United States
(Chief Executive Officer and Director) TIG Insurance Company
William J. Gillett Senior Vice President, General Counsel, United States
(Senior Vice President, General Counsel, Secretary, and Director,
Secretary and Director) TIG Insurance Company
Robert L. Gossett Senior Vice President and Director, United States
(Senior Vice President and Director) TIG Insurance Company
Michael J. Sluka Senior Vice President, Chief Financial United States
(Senior Vice President, Chief Financial Officer, Officer, Treasurer and Director,
Treasurer and Director) TIG Insurance Company
34
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
NAME WHICH SUCH EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- -------------------------------------------- -----------
Andrew A. Barnard President and Chief Executive Officer, United States
(President) Odyssey Re Holdings Corp.
140 Broadway Avenue
39th Floor
New York, NY 10005
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
35
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
----------- -----------
1. Registration Rights Agreement dated June 19, 2001 between Odyssey Re Holdings
Corp., TIG Insurance Company and ORH Holdings Inc. (Previously filed).
2. Master Note Purchase Agreement dated as of March 3, 2003.
3. Promissory Note ("Note 1") in the amount of $39,022,500 due February 28, 2010
exchangeable into 2,150,000 Shares.
4. Promissory Note ("Note 2") in the amount of $39,022,500 due February 28, 2010
exchangeable into 2,150,000 Shares.
5. Note Purchase Confirmation No. 1 relating to the purchase of Note 1.
6. Note Purchase Confirmation No. 2 relating to the purchase of Note 2.
7. Pledge Agreement dated as of March 3, 2003.
8. Joint filing agreement dated as of March 5, 2003 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, TIG
Insurance Company, and ORH Holdings Inc.
36