Canadian Underwriter
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SEC subpoenas documents from Fairfax


September 7, 2005   by Canadian Underwriter


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Fairfax Financial Holdings Limited (TSX:FFH.SV)(NYSE:FFH) has received a subpoena from the U.S. Securities and Exchange Commission (SEC), requesting documents regarding nontraditional insurance/reinsurance transactions made or products offered by entities of the Fairfax group.
Fairfax says it is cooperating with the SEC request.
For the past several months, the SEC has been conducting an industry-wide investigation into nontraditional insurance.
Fairfax is a financial services holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance, investment management and insurance claims management.
Fairfax is the majority stockholder of Odyssey Re Holdings Corp., a worldwide underwriter of property and casualty reinsurance, as well as specialty insurance.
OdysseyRe says it has been advised of the subpoena request by Fairfax and "is reviewing its obligations under the subpoena and intends to cooperate fully with the SEC in connection with this request."
OdysseyRe operates through its subsidiaries Odyssey America Reinsurance Corporation, Hudson Insurance Company, Hudson Specialty Insurance Company, Clearwater Insurance Company and Newline Underwriting Management Limited. It underwrites through offices in the United States, London, Paris, Singapore, Toronto, and Latin America.


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