SECURITIES AND EXCHANGE COMMISSION
Washington, D.C 20549
AMENDMENT NO. 5 TO
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Zenith National Insurance Corp.
(Name of Issuer)
Common Stock, $1.00 Par Value
(Title of Class of Securities)
989390109
(CUSIP Number)
Paul Rivett
Vice President
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
September 29, 2005
(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).
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CUSIP No. 989390109 Page 2 of 52 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]
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(3) SEC Use Only
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(4) Source of Funds WC
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(5) Check box if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e). [ ]
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(6) Citizenship or Place of Organization CANADIAN
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(7) Sole Voting Power
Number of
Shares Beneficially (8) Shared Voting Power 2,564,021
Owned
by Each (9) Sole Dispositive Power
Reporting
Person With (10) Shared Dispositive Power 2,564,021
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person 2,564,021
---------------------------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
[ ]
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(13) Percent of Class Represented by Amount in Row (11) 11.2% (see Item 5)
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(14) Type of Reporting Person (See Instructions) IN
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2
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CUSIP No. 989390109 Page 3 of 52 Pages
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(1) Name of Reporting Person 1109519 ONTARIO LIMITED
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(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
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(3) SEC Use Only
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(4) Source of Funds WC
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(5) Check box if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e). [ ]
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(6) Citizenship or Place of Organization ONTARIO, CANADA
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(7) Sole Voting Power
Number of
Shares Beneficially (8) Shared Voting Power 2,564,021
Owned
by Each (9) Sole Dispositive Power
Reporting
Person With (10) Shared Dispositive Power 2,564,021
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person 2,564,021
---------------------------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
[ ]
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(13) Percent of Class Represented by Amount in Row (11) 11.2% (see Item 5)
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(14) Type of Reporting Person (See Instructions) CO
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3
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CUSIP No. 989390109 Page 4 of 52 Pages
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(1) Name of Reporting Person THE SIXTY TWO INVESTMENT COMPANY LIMITED
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(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
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(3) SEC Use Only
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(4) Source of Funds WC
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(5) Check box if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e). [ ]
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(6) Citizenship or Place of Organization BRITISH COLUMBIA, CANADA
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(7) Sole Voting Power
Number of
Shares Beneficially (8) Shared Voting Power 2,564,021
Owned
by Each (9) Sole Dispositive Power
Reporting
Person With (10) Shared Dispositive Power 2,564,021
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person 2,564,021
---------------------------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
[ ]
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(13) Percent of Class Represented by Amount in Row (11) 11.2% (see Item 5)
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(14) Type of Reporting Person (See Instructions) CO
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4
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CUSIP No. 989390109 Page 5 of 52 Pages
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(1) Name of Reporting Person 810679 ONTARIO LIMITED
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(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
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(3) SEC Use Only
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(4) Source of Funds WC
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(5) Check box if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e). [ ]
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(6) Citizenship or Place of Organization ONTARIO, CANADA
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(7) Sole Voting Power
Number of
Shares Beneficially (8) Shared Voting Power 2,564,021
Owned
by Each (9) Sole Dispositive Power
Reporting
Person With (10) Shared Dispositive Power 2,564,021
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person 2,564,021
---------------------------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
[ ]
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(13) Percent of Class Represented by Amount in Row (11) 11.2% (see Item 5)
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(14) Type of Reporting Person (See Instructions) CO
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5
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CUSIP No. 989390109 Page 6 of 52 Pages
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(1) Name of Reporting Person FAIRFAX FINANCIAL HOLDINGS LIMITED
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(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
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(3) SEC Use Only
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(4) Source of Funds WC
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(5) Check box if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e). [ ]
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(6) Citizenship or Place of Organization CANADA
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(7) Sole Voting Power
Number of
Shares Beneficially (8) Shared Voting Power 2,564,021
Owned
by Each (9) Sole Dispositive Power
Reporting
Person With (10) Shared Dispositive Power 2,564,021
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person 2,564,021
---------------------------------------------------------------------------------------------------
(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) 11.2% (see Item 5)
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(14) Type of Reporting Person (See Instructions) CO
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6
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CUSIP No. 989390109 Page 7 of 52 Pages
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(1) Name of Reporting Person CRC (BERMUDA) REINSURANCE LIMITED
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(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
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(3) SEC Use Only
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(4) Source of Funds WC
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(5) Check box if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e). [ ]
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(6) Citizenship or Place of Organization BERMUDA
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(7) Sole Voting Power
Number of
Shares Beneficially (8) Shared Voting Power 323,574
Owned
by Each (9) Sole Dispositive Power
Reporting
Person With (10) Shared Dispositive Power 323,574
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person 323,574
---------------------------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
[ ]
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(13) Percent of Class Represented by Amount in Row (11) 1.4%
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(14) Type of Reporting Person (See Instructions) CO
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7
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CUSIP No. 989390109 Page 8 of 52 Pages
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(1) Name of Reporting Person FFHL GROUP LTD.
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(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
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(3) SEC Use Only
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(4) Source of Funds WC
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(5) Check box if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e). [ ]
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(6) Citizenship or Place of Organization CANADA
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(7) Sole Voting Power
Number of
Shares Beneficially (8) Shared Voting Power 2,240,447
Owned
by Each (9) Sole Dispositive Power
Reporting
Person With (10) Shared Dispositive Power 2,240,447
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person 2,240,447
---------------------------------------------------------------------------------------------------
(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) 9.8% (see Item 5)
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(14) Type of Reporting Person (See Instructions) CO
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8
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CUSIP No. 989390109 Page 9 of 52 Pages
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(1) Name of Reporting Person FAIRFAX INC.
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(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
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(3) SEC Use Only
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(4) Source of Funds WC
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(5) Check box if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e). [ ]
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(6) Citizenship or Place of Organization WYOMING
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(7) Sole Voting Power
Number of
Shares Beneficially (8) Shared Voting Power 2,240,447
Owned
by Each (9) Sole Dispositive Power
Reporting
Person With (10) Shared Dispositive Power 2,240,447
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person 2,240,447
---------------------------------------------------------------------------------------------------
(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) 9.8% (see Item 5)
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(14) Type of Reporting Person (See Instructions) CO
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9
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CUSIP No. 989390109 Page 10 of 52 Pages
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(1) Name of Reporting Person TIG HOLDINGS, INC.
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(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
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(3) SEC Use Only
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(4) Source of Funds WC
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(5) Check box if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e). [ ]
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(6) Citizenship or Place of Organization DELAWARE
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(7) Sole Voting Power
Number of
Shares Beneficially (8) Shared Voting Power 0
Owned
by Each (9) Sole Dispositive Power
Reporting
Person With (10) Shared Dispositive Power 0
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person 0
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(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
[ ]
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(13) Percent of Class Represented by Amount in Row (11) 0.0% (see Item 5)
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(14) Type of Reporting Person (See Instructions) CO
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10
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CUSIP No. 989390109 Page 11 of 52 Pages
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(1) Name of Reporting Person TIG INSURANCE GROUP, INC.
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(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
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(3) SEC Use Only
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(4) Source of Funds WC
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(5) Check box if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e). [ ]
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(6) Citizenship or Place of Organization DELAWARE
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(7) Sole Voting Power
Number of
Shares Beneficially (8) Shared Voting Power 0
Owned
by Each (9) Sole Dispositive Power
Reporting
Person With (10) Shared Dispositive Power 0
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person 0
---------------------------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
[ ]
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(13) Percent of Class Represented by Amount in Row (11) 0.0% (see Item 5)
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(14) Type of Reporting Person (See Instructions) CO
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11
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CUSIP No. 989390109 Page 12 of 52 Pages
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(1) Name of Reporting Person TIG INSURANCE COMPANY
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(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
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(3) SEC Use Only
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(4) Source of Funds WC
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(5) Check box if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e). [ ]
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(6) Citizenship or Place of Organization CALIFORNIA
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(7) Sole Voting Power
Number of
Shares Beneficially (8) Shared Voting Power 0
Owned
by Each (9) Sole Dispositive Power
Reporting
Person With (10) Shared Dispositive Power 0
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person 0
--------------------------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
[ ]
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(13) Percent of Class Represented by Amount in Row (11) 0.0% (see Item 5)
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(14) Type of Reporting Person (see instructions) CO
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12
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CUSIP No. 989390109 Page 13 of 52 Pages
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(1) Name of Reporting Person ODYSSEY RE HOLDINGS CORP.
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(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
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(3) SEC Use Only
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(4) Source of Funds WC
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(5) Check box if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e). [ ]
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(6) Citizenship or Place of Organization DELAWARE
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(7) Sole Voting Power
Number of
Shares Beneficially (8) Shared Voting Power 0
Owned
by Each (9) Sole Dispositive Power
Reporting
Person With (10) Shared Dispositive Power 0
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person 0
---------------------------------------------------------------------------------------------------
(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) 0.0% (see Item 5)
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(14) Type of Reporting Person (See Instructions) CO
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13
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CUSIP No. 989390109 Page 14 of 52 Pages
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(1) Name of Reporting Person ODYSSEY AMERICA REINSURANCE CORPORATION
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(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
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(3) SEC Use Only
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(4) Source of Funds WC
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(5) Check box if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e). [ ]
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(6) Citizenship or Place of Organization CONNECTICUT
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(7) Sole Voting Power
Number of
Shares Beneficially (8) Shared Voting Power 0
Owned
by Each (9) Sole Dispositive Power
Reporting
Person With (10) Shared Dispositive Power 0
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person 0
---------------------------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
[ ]
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(13) Percent of Class Represented by Amount in Row (11) 0.0% (see Item 5)
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(14) Type of Reporting Person (See Instructions) CO
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14
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CUSIP No. 989390109 Page 15 of 52 Pages
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(1) Name of Reporting Person CLEARWATER INSURANCE COMPANY
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(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
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(3) SEC Use Only
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(4) Source of Funds WC
---------------------------------------------------------------------------------------------------
(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 Beneficially (8) Shared Voting Power 0
Owned
by Each (9) Sole Dispositive Power
Reporting
Person With (10) Shared Dispositive Power 0
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person 0
---------------------------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
[ ]
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(13) Percent of Class Represented by Amount in Row (11) 0.0%
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(14) Type of Reporting Person (See Instructions) CO
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15
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CUSIP No. 989390109 Page 16 of 52 Pages
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(1) Name of Reporting Person CRUM & FORSTER HOLDINGS CORP.
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(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
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(3) SEC Use Only
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(4) Source of Funds WC
---------------------------------------------------------------------------------------------------
(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 Beneficially (8) Shared Voting Power 2,240,447
Owned
by Each (9) Sole Dispositive Power
Reporting
Person With (10) Shared Dispositive Power 2,240,447
---------------------------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person 2,240,447
---------------------------------------------------------------------------------------------------
(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) 9.8%
---------------------------------------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) CO
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16
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CUSIP No. 989390109 Page 17 of 52 Pages
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(1) Name of Reporting Person CRUM & FORSTER HOLDING INC.
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(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
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(3) SEC Use Only
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(4) Source of Funds WC
---------------------------------------------------------------------------------------------------
(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 Beneficially (8) Shared Voting Power 2,240,447
Owned
by Each (9) Sole Dispositive Power
Reporting
Person With (10) Shared Dispositive Power 2,240,447
---------------------------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person 2,240,447
---------------------------------------------------------------------------------------------------
(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) 9.8%
---------------------------------------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) CO
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17
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CUSIP No. 989390109 Page 18 of 52 Pages
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(1) Name of Reporting Person UNITED STATES FIRE INSURANCE COMPANY
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(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
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(3) SEC Use Only
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(4) Source of Funds WC
---------------------------------------------------------------------------------------------------
(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 Beneficially (8) Shared Voting Power 2,240,447
Owned
by Each (9) Sole Dispositive Power
Reporting
Person With (10) Shared Dispositive Power 2,240,447
---------------------------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person 2,240,447
---------------------------------------------------------------------------------------------------
(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) 9.8%
---------------------------------------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) CO
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18
This Amendment No. 5 amends the Statement on Schedule 13D filed with
the Securities and Exchange Commission (the "Commission") on July 6, 1999 by
Fairfax Financial Holdings Limited ("Fairfax"), Hamblin Watsa Investment Counsel
Ltd., The Sixty Two Investment Company Limited and V. Prem Watsa relating to the
purchase of 6,574,445 shares of common stock, par value $1.00 per share (the
"Common Stock"), of Zenith National Insurance Corp., a Delaware insurance
holding company ("Zenith"), pursuant to a Stock Purchase Agreement (the "1999
Stock Purchase Agreement") dated as of June 25, 1999 between Fairfax and
Reliance Insurance Company, which Statement on Schedule 13D (such schedule, as
amended, being the "Schedule 13D") was amended by (i) Amendment No. 1 to the
Statement on Schedule 13D relating to the Stock Purchase Agreement (the "2001
Stock Purchase Agreement") dated as of November 21, 2001 between Clearwater
Insurance Company ("Clearwater"), a Delaware corporation, formerly known as
Odyssey Reinsurance Corporation, and Zenith, providing for the purchase and sale
of 1,000,000 shares of Common Stock of Zenith, (ii) Amendment No. 2 to the
Statement on Schedule 13D relating to the purchase on March 21, 2003 by Odyssey
America Reinsurance Corporation ("Odyssey America"), a Connecticut corporation,
of $30,000,000 aggregate principal amount of 5.75% convertible senior notes due
2023 of Zenith (the "Senior Notes"), which Senior Notes are currently
convertible, as described below in Item 5, into 1,200,000 shares of Common Stock
of Zenith, (iii) Amendment No. 3 to the Statement on Schedule 13D relating to
the sale of 3,100,000 shares of Common Stock of Zenith by certain subsidiaries
of Fairfax pursuant to an underwriting agreement, dated as of July 27, 2004,
among the underwriters named in Schedule A thereto, Zenith and certain
subsidiaries of Fairfax, as selling stockholders, in connection with the sale of
such shares in a public offering pursuant to a registration statement on Form
S-3 filed by Zenith with the Commission; and (iv) Amendment No. 4 to the
Statement on Schedule 13D relating to the sale of 2,000,000 shares of Common
Stock of Zenith by certain subsidiaries of Fairfax on August 2, 2005.
This Amendment No. 5 relates to the sale (the "Transaction") of
157,524 shares of Common Stock of Zenith and $30,000,000 aggregate principal
amount of the Senior Notes by certain subsidiaries of Fairfax on September 29,
2005. The closing of the Transaction is subject to customary conditions.
The following amendments to Items 2, 4, 5 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, Canada, M5J 2N7;
2. 1109519 Ontario Limited ("1109519"), a corporation incorporated
under the laws of Ontario, is controlled by V. Prem Watsa. The
principal
19
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. CRC (Bermuda) Reinsurance Limited ("CRC (Bermuda)"), a
corporation incorporated under the laws of Bermuda, is a
wholly-owned subsidiary of Fairfax. The principal business of CRC
(Bermuda) is reinsurance. The principal business address and
principal office address of CRC (Bermuda) is c/o Westbrook
Limited, Richmond House, 12 Par-la-Ville Road, P.O. Box HM 1022
Hamilton, HM DX Bermuda.
7. 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;
8. 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;
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;
20
10. TIG Insurance Group, Inc. ("TIG Insurance Group"), a corporation
incorporated under the laws of Delaware, 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;
12. Odyssey Re Holdings Corp. ("OdysseyRe"), a corporation
incorporated under the laws of Delaware, is a majority-owned
subsidiary of Fairfax. The principal business of OdysseyRe is as
a holding company. The principal business address and principal
office address of OdysseyRe is 300 First Stamford Place,
Stamford, Connecticut 06902;
13. Odyssey America, a corporation incorporated under the laws of
Connecticut, is a wholly-owned subsidiary of OdysseyRe. The
principal business of Odyssey America is reinsurance. The
principal business address and principal office address of
Odyssey America is 300 First Stamford Place, Stamford,
Connecticut 06902;
14. Clearwater, a corporation incorporated under the laws of
Delaware, formerly known as Odyssey Reinsurance Corporation, is a
wholly-owned subsidiary of Odyssey America. The principal
business of Clearwater is reinsurance and insurance. The
principal business address and principal office address of
Clearwater is 300 First Stamford Place, Stamford, Connecticut
06902;
15. Crum & Forster Holdings Corp., a corporation incorporated under
the laws of Delaware, is a wholly-owned subsidiary of Fairfax.
The principal business of Crum & Forster Holdings Corp. is as a
holding company. The principal business address and principal
office address of Crum & Forster Holdings Corp. is 305 Madison
Avenue, P.O. Box 1973, Morristown, New Jersey 07962;
16. Crum & Forster Holding Inc., a corporation incorporated under the
laws of Delaware, is a wholly-owned subsidiary of Fairfax. The
principal business of Crum & Forster Holding Inc. is as a holding
company. The principal business address and principal office
address of Crum & Forster Holding Inc. is 305 Madison Avenue,
P.O. Box 1973, Morristown, New Jersey 07962; and
17. United States Fire Insurance Company ("US Fire"), a corporation
incorporated under the laws of Delaware, is a wholly-owned
subsidiary of
21
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, CRC (Bermuda), FFHL Group Ltd., Fairfax Inc., TIG
Holdings, Inc., TIG Insurance Group, TIG, OdysseyRe, Odyssey America,
Clearwater, Crum & Forster Holdings Corp., Crum & Forster Holding Inc. or US
Fire that such person is the beneficial owner of the shares of Common Stock of
Zenith 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 director and executive
officer of each of the Reporting Persons (other than V. Prem Watsa, an
individual) are set forth in Annex A, B, C, D, E, F, G, H, I, J, K, L, M, N, O
or P, 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 of Common Stock of Zenith.
During the last five years, none of the Reporting Persons, and, to the
best of each such Reporting Person's knowledge, none of the executive officers
or directors of such Reporting Person 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 4. PURPOSE OF TRANSACTION
Item 4 of the Schedule 13D is hereby amended in its entirety to read
as follows:
"The shares of Common Stock of Zenith referred to herein have been
acquired by the Reporting Persons for investment purposes and not for the
purposes of, or in connection with, or as a participant in, any transaction
having the purpose of changing or influencing the control of Zenith. Fairfax and
Zenith have entered into a standstill agreement dated as of June 30, 1999 (the
"Original Standstill Agreement") as amended by Amendment No. 1 to the Standstill
Agreement dated March 21, 2003 (the "Standstill Amendment", and together with
the Original Standstill Agreement, the "Standstill Agreement") which prohibits
Fairfax, subject to the terms and conditions set forth in the Standstill
Agreement, from acquiring any additional securities or assets of Zenith until
the earlier of (i) December 31, 2006 or (ii) the date on which Stanley R. Zax is
no longer the full-time President and Chairman of the Board of Directors of
Zenith. In addition, Fairfax has entered into a Proxy Agreement dated March 28,
2002 (the "Proxy
22
Agreement") appointing John Clark (the "Trustee") as its proxy with respect to
all matters for which Fairfax and all of its subsidiary corporations have the
right to vote shares of Common Stock of Zenith. Under the Proxy Agreement, the
Trustee shall vote such shares in the same proportion as the vote ultimately
cast by all other voting stockholders. In the event that a proxy contest not
supported by management occurs while the Standstill Agreement remains in effect,
the Trustee shall vote as recommended by management of Zenith.
The Reporting Persons have the following plans and proposals:
(a) The Reporting Persons have no current intention to acquire or
dispose of securities of Zenith, 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 Zenith,
including the price and availability of the securities of Zenith, subsequent
developments affecting Zenith'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 securities of Zenith or may decide in the
future to sell all or part of their investment in Zenith;
(b) The Reporting Persons have no plans or proposals to cause Zenith
to enter into any extraordinary corporate transaction, such as a merger,
reorganization or liquidation of Zenith or any of its subsidiaries;
(c) The Reporting Persons have no plans or proposals to cause Zenith
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 Zenith,
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 Zenith;
(f) The Reporting Persons have no plans or proposals to cause Zenith
to make any other material change in its business or corporate structure;
(g) The Reporting Persons have no plans or proposals to cause Zenith
to change its certificate of incorporation or bylaws or to take other actions
which may impede the acquisition of control of Zenith by any person;
(h) The Reporting Persons have no plans or proposals to cause the
shares of Common Stock of Zenith 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 of Common Stock of Zenith to become eligible for termination of
registration pursuant to Section 12(g) of the Exchange Act; and
23
(j) The Reporting Persons have no plans or proposals to take any
actions similar to those enumerated above.
The descriptions in this Item 4 of the Standstill Agreement and the
Proxy Agreement are qualified in their entirety by reference to the Standstill
Agreement and the Proxy Agreement, copies of which have been filed as Exhibits
to this Schedule 13D."
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 of Common Stock of Zenith (the securities
identified pursuant to Item 1 of this Schedule 13D) that are beneficially owned
by each of the Reporting Persons (including, where applicable, shares of Common
Stock of Zenith issuable upon conversion of the Senior Notes, which are
currently convertible as described below) are 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 numbers of shares of Common Stock of Zenith as to which each
of the Reporting Persons has sole voting power, shared voting power, sole
dispositive power and shared dispositive power are 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, L, M, N, O or P, beneficially owns, or during the last
60 days has acquired or disposed of, any shares of Common Stock of Zenith.
(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
of Common Stock of Zenith held by the Reporting Persons other than each of the
Reporting Persons.
(e) Not applicable."
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:
"5.0 Joint Filing Agreement dated as of October 3, 2005 among V. Prem
Watsa, 1109519 Ontario Limited, The Sixty Two Investment Company
Limited, 810679 Ontario Limited, Fairfax Financial Holdings
Limited., CRC (Bermuda) Reinsurance Limited, FFHL Group Ltd.,
Fairfax Inc., TIG Holdings, Inc., TIG Insurance Group, Inc., TIG
Insurance Company, Odyssey Re Holdings Corp.,
24
Odyssey America Reinsurance Corporation, Clearwater Insurance
Company, Crum & Forster Holdings Corp., Crum & Forster Holding
Inc. and United States Fire Insurance Company."
25
SIGNATURE
After reasonable inquiry and to the best of the undersigned's
knowledge and belief, the undersigned certifies that the information set forth
in this Schedule 13D with respect to the undersigned is true, complete and
correct.
IN WITNESS WHEREOF, the undersigned has executed this Schedule 13D as
of the 3rd day of October, 2005.
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
26
810679 Ontario Limited
By: /s/ V. Prem Watsa
------------------------------------
Name: V. Prem Watsa
Title: President
Fairfax Financial Holdings Limited
By: /s/ Paul Rivett
------------------------------------
Name: Paul Rivett
Title: Vice President
CRC (Bermuda) Reinsurance Limited
By: /s/ Ronald Schokking
------------------------------------
Name: Ronald Schokking
Title: Vice President
FFHL Group Ltd.
By: /s/ V. Prem Watsa
------------------------------------
Name: V. Prem Watsa
Title: Vice President and Director
27
Fairfax Inc.
By: /s/ John Cassil
------------------------------------
Name: John Cassil
Title: Vice President
TIG Holdings, Inc.
By: /s/ V. Prem Watsa
------------------------------------
Name: V. Prem Watsa
Title: Chairman and Director
TIG Insurance Group, Inc.
By: /s/ Scott Donovan
------------------------------------
Name: Scott Donovan
Title: President
TIG Insurance Company
By: /s/ Scott Donovan
------------------------------------
Name: Scott Donovan
Title: President
28
Odyssey Re Holdings Corp.
By: /s/ Robert Giammarco
------------------------------------
Name: Robert Giammarco
Title: Executive Vice President and
Chief Financial Officer
Odyssey America Reinsurance Corporation
By: /s/ Robert Giammarco
------------------------------------
Name: Robert Giammarco
Title: Executive Vice President
Clearwater Insurance Company
By: /s/ Robert Giammarco
------------------------------------
Name: Robert Giammarco
Title: Executive President
Crum & Forster Holdings Corp.
By: /s/ Carol Ann Soos
------------------------------------
Name: Carol Ann Soos
Title: Secretary
29
Crum & Forster Holding Inc.
By: /s/ Valerie J. Gasparik
------------------------------------
Name: Valerie J. Gasparik
Title: Secretary
United States Fire Insurance Company
By: /s/ Carol Ann Soos
------------------------------------
Name: Carol Ann Soos
Title: Vice President
30
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 CRC (Bermuda) Reinsurance Limited
F Directors and Executive Officers of FFHL Group Ltd.
G Directors and Executive Officers of Fairfax Inc.
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 Odyssey Re Holdings Corp.
L Directors and Executive Officers of Odyssey America Reinsurance
Corporation
M Directors and Executive Officers of Clearwater Insurance Company
N Directors and Executive Officers of Crum & Forster Holdings Corp.
O Directors and Executive Officers of Crum & Forster Holding Inc.
P Directors and Executive Officers of United States Fire Insurance Company
31
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)
32
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)
33
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, Fairfax Canadian
(Assistant Secretary and Financial Holdings Limited
Director)
34
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
Paul Murray President, Canadian
(Director) Pine Smoke Investments
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
35
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
---- -------------------------------------------- -----------
Greg Taylor Vice President and Chief Canadian
(Vice President and Chief Financial Officer, Fairfax
Financial Officer) 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
36
ANNEX E
DIRECTORS AND EXECUTIVE OFFICERS OF
CRC (BERMUDA) REINSURANCE LIMITED
The following table sets forth certain information with respect to the
directors and executive officers of CRC (Bermuda) Reinsurance 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
---- -------------------------------------------- -----------
Sam Chan Vice President Canadian
(Director and President) Fairfax Financial Holdings Limited
95 Wellington Street West, Ste. 800
Toronto, ON
Charles Collis Attorney British/Bermudian
(Director) Conyers Dill & Pearman
Clarendon House, Church Street
Hamilton, Bermuda
Christopher Garrod Attorney British/Bermudian
(Director) Conyers Dill & Pearman
Clarendon House, Church Street
Hamilton, Bermuda
Ronald Schokking Vice President, Finance Canadian
(Director, Vice President Fairfax Financial Holdings Limited
and Treasurer)
Bradley P. Martin Vice President Canadian
(Vice President) Fairfax Financial Holdings Limited
Eric P. Salsberg Vice President, Corporate Affairs Canadian
(Vice President) Fairfax Financial Holdings Limited
37
ANNEX F
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.
305 Madison Avenue
Morristown, NJ 07962
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 Secretary) 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
38
ANNEX G
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 & CEO) Officer, Fairfax Inc.
305 Madison Avenue
Morristown, NJ 07962
Ronald Schokking Vice President, Finance, Canadian
(Vice President) Fairfax Financial Holdings Limited
Trevor J. Ambridge Vice President and Chief Financial Officer, Canadian
(Vice President) Fairfax Financial Holdings Limited
John Cassil Vice President, United States
(Vice President) Fairfax Inc.
39
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 and Chief Canadian
(Director) Financial Officer,
Fairfax Financial Holdings Limited
Dennis C. Gibbs Chief Executive Officer and Director, United States
(Chief Executive Officer TIG Insurance Company
and Director)
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, Officer, Treasurer and Director,
Chief Financial Officer, TIG Insurance Company
and Treasurer)
40
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
Dennis C. Gibbs Chief Executive Officer and Director, United States
(Chief Executive Officer and TIG Insurance Company
Director)
Charles G. Ehrlich Senior Vice President and Director, United States
(Senior Vice President, TIG Insurance Company
General Counsel and Secretary)
Michael J. Sluka Senior Vice President, Chief Financial United States
(Senior Vice President, Officer, Treasurer and Director,
Chief Financial Officer, TIG Insurance Company
Treasurer, and Director)
William J. Gillett Managing Director -- Europe United States
(Director) RiverStone Holdings Limited
2nd Floor, Mint House, 77 Mansell Street
London, UK E1 8AF
41
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
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 TIG Insurance Company
Director)
John M. Parker Senior Vice President, General United States
(Senior Vice President, Counsel, and Secretary,
General Counsel, and TIG Insurance Company
Secretary)
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 TIG Insurance Company
and Director)
42
ANNEX K
DIRECTORS AND EXECUTIVE OFFICERS OF
ODYSSEY RE HOLDINGS CORP.
The following table sets forth certain information with respect to the
directors and executive officers of Odyssey Re Holdings Corp.
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) Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
James F. Dowd President and Chief Executive Officer, United States
(Vice Chairman) Fairfax Inc.
305 Madison Avenue
Morristown, NJ 07962
Andrew Barnard President, Chief Executive Officer, and United States
(President, Chief Executive Director
Officer and Director) Odyssey Re Holdings Corp.
300 First Stamford Place,
Stamford, Connecticut 06902
Michael G. Wacek Executive Vice President, United States
(Executive Vice President) Odyssey Re Holdings Corp.
Robert Giammarco Executive Vice President and Chief Canadian
(Executive Vice President and Financial Officer,
Chief Financial Officer) Odyssey Re Holdings Corp.
Anthony J. Narciso, Jr. Senior Vice President and Controller, United States
(Senior Vice President and Odyssey Re Holdings Corp.
Controller)
43
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
---- -------------------------------------------- -----------
Donald L. Smith Senior Vice President, United States
(Senior Vice President, General Counsel and Corporate Secretary,
General Counsel and Corporate Odyssey Re Holdings Corp.
Secretary)
Frank B. Bennett President, Artesian Management Inc. United States
(Director) 301 Carlson Parkway,
Suite 120
Minnetonka, MN 55305
Anthony F. Griffiths Independent Consultant and Corporate Canadian
(Director) Director,
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
Robbert Hartog President, Robhar Investments Ltd. Canadian
(Director) R.R. #1
Perkinsfield, Ontario L0L 2J0
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
Samuel A. Mitchell Principal, Hamblin Watsa Investment Counsel, United States
(Director) Ltd.
Toronto, Ontario, Canada
44
ANNEX L
DIRECTORS AND EXECUTIVE OFFICERS OF
ODYSSEY AMERICA REINSURANCE CORPORATION
The following table sets forth certain information with respect to the
directors and executive officers of Odyssey America Reinsurance Corporation.
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, Chief Executive Officer, and United States
(Chairman, Chief Executive Director
Officer and Director) Odyssey Re Holdings Corp.
300 First Stamford Place,
Stamford, Connecticut 06902
Michael G. Wacek Executive Vice President, United States
(President and Director) Odyssey Re Holdings Corp.
Mark W. Hinkley Executive Vice President, United States
(Executive Vice President and Odyssey America Reinsurance Corporation
Director) 300 First Stamford Place
Stamford, CT 06902
James E. Migliorini Executive Vice President, United States
(Senior Vice President and Odyssey America Reinsurance Corporation
Director)
Donald L. Smith Senior Vice President, General Counsel and United States
(Senior Vice President and Corporate Secretary,
General Counsel and Director) Odyssey Re Holdings Corp.
Brian D. Young Executive Vice President, United States
(Executive Vice President and Odyssey America Reinsurance Corporation
Director)
45
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
---- -------------------------------------------- -----------
Robert Giammarco Executive Vice President and Chief Financial Canadian
(Executive Vice President and Officer,
Director) Odyssey Re Holdings Corp.
46
ANNEX M
DIRECTORS AND EXECUTIVE OFFICERS OF
CLEARWATER INSURANCE COMPANY
The following table sets forth certain information with respect to the
directors and executive officers of Clearwater 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
---- -------------------------------------------- -------------
Andrew A. Barnard President, Chief Executive Officer, United States
(Chairman, Chief Executive and Director
Officer and Director) Odyssey Re Holdings Corp.
300 First Stamford Place,
Stamford, Connecticut 06902
James E. Migliorini Executive Vice President, United States
(President and Director) Odyssey America Reinsurance Corporation
300 Stamford Place
Stamford, CT 06902
Mark W. Hinkley Executive Vice President, United States
(Executive Vice President Odyssey America Reinsurance Corporation
and Director)
Robert S. Bennett Executive Vice President and Chief Actuary, United States
(Executive Vice President, Odyssey America Reinsurance Corporation
Chief Actuary
and Director)
Donald L. Smith Senior Vice President, General Counsel and United States
(Senior Vice President, Corporate Secretary,
General Counsel, Corporate Odyssey Re Holdings Corp.
Secretary and Director)
47
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
---- -------------------------------------------- -------------
Brian D. Young Executive Vice President, United States
(Executive Vice President Odyssey America Reinsurance Corporation
and Director)
Robert Giammarco Executive Vice President and Chief Financial Canadian
(Executive Vice President Officer,
and Director) Odyssey Re Holdings Corp.
Christopher L. Gallagher Senior Vice President, United States
(Executive Vice President and Odyssey America Reinsurance Corporation
Director)
48
ANNEX N
DIRECTORS AND EXECUTIVE OFFICERS OF
CRUM & FORSTER HOLDINGS CORP.
The following table sets forth certain information with respect to the
directors and executive officers of Crum & Forster Holdings Corp.
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) Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
Nikolas Antonopoulos Chief Executive Officer and President, United States
(Chief Executive Officer and Crum & Forster Holdings Corp. and various
President) other insurance subsidiaries
305 Madison Avenue, P.O. Box 1973
Morristown, NJ 07962
Mary Jane Robertson Executive Vice President, Chief Financial United States
(Executive Vice President, Officer and Treasurer,
Chief Financial Crum & Forster Holdings Corp. and various
Officer and Treasurer) other insurance subsidiaries
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
49
ANNEX O
DIRECTORS AND EXECUTIVE OFFICERS OF
CRUM & FORSTER HOLDING INC.
The following table sets forth certain information with respect to the
directors and executive officers of Crum & Forster Holding 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
---- -------------------------------------------- -------------
Nikolas Antonopoulos Chief Executive Officer and President, United States
(Chairman, Chief Executive Crum & Forster Holdings Corp. and various
Officer and Director) other insurance subsidiaries
305 Madison Avenue, P.O. Box 1973
Morristown, NJ 07962
Joseph F. Braunstein, Jr. President, United States
(President and Director) Crum & Forster Holding Inc. and various
other insurance subsidiaries
305 Madison Avenue
Morristown, NJ 07962
Mary Jane Robertson Executive Vice President, Chief Financial United States
(Executive Vice President, Officer and Treasurer,
Treasurer and Director) Crum & Forster Holdings Corp. and various
other insurance subsidiaries
Douglas M. Libby President, United States
(Senior Vice President and Seneca Insurance Company
Director) 160 Water Street
New York, NY 10038
50
ANNEX P
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, Crum & Forster Holdings Corp. and various
Chairman and Director) other insurance subsidiaries
305 Madison Avenue, P.O. Box 1973
Morristown, NJ 07962
Joseph F. Braunstein, Jr. President, United States
(President and Director) Crum & Forster Holding Inc. and various
other insurance subsidiaries
305 Madison Avenue
Morristown, NJ 07962
Mary Jane Robertson Executive Vice President, Chief Financial United States
(Executive Vice President, Officer and Treasurer,
Chief Financial Officer, Crum & Forster Holdings Corp. and various
Treasurer and Director) other insurance subsidiaries
Dennis J. Hammer Senior Vice President and Controller, United States
(Senior Vice President and United States Fire Insurance Company,
Controller) 305 Madison Avenue
Morristown, NJ 07962
51
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
----------- -----------
5.0 Joint Filing Agreement dated as of October 3, 2005 among V. Prem
Watsa, 1109519 Ontario Limited, The Sixty Two Investment Company
Limited, 810679 Ontario Limited, Fairfax Financial Holdings
Limited., CRC (Bermuda) Reinsurance Limited, FFHL Group Ltd.,
Fairfax Inc., TIG Holdings, Inc., TIG Insurance Group, Inc., TIG
Insurance Company, Odyssey Re Holdings Corp., Odyssey America
Reinsurance Corporation, Clearwater Insurance Company, Crum &
Forster Holdings Corp., Crum & Forster Holding Inc. and United
States Fire Insurance Company.
52