After completion of the offer by Fairfax Financial Holdings Limited ( "Fairfax") for all of its shares not owned by Fairfax, Odyssey Re Holdings Corp. reported the following financial highlights for the three and nine months ended 30 September 2009:

Three months

- Net income of $ 128.2 million

- Gross written premiums of 630.9 million dollars

- Combined ratio of 96.9%

Nine months

- Net income of 250.8 million dollars

- Gross written premiums of 1697.2 million

- Combined ratio of 96.7%

On September 30, 2009

- The GAAP equity of $ 3.6 billion

- Total GAAP assets of $ 10.8 billion

- Statutory surplus of 3.5 billion dollars

"Our experience as a public company has been rewarding, from our initial public offering in 2001 to $ 18 per share at the close of the tender offer at $ 65," said Andrew A. Barnard, OdysseyRe Chief Executive Officer. Operations OdysseyRe "Over the years we have greatly expanded around the globe, with many product lines and new distribution channels. During this time, we have closely adhered to the underwriting discipline that underpins our strategy of undertaking. The positive technical results, combined with exceptional investment gains have strengthened a rock-solid foundation also.

This presentation is based on the consolidated results OdysseyRe's. For more information, please visit OdysseyRe's, www.odysseyre.com.

Odyssey Re Holdings Corp. is a leading global insurer of property and the Treaty of accidents and facultative reinsurance, as well as specialty insurance. OdysseyRe operates through its subsidiaries, Odyssey America Reinsurance Corporation, Hudson Insurance Company, Hudson Specialty Insurance Company, Clearwater Insurance Company, Newline Underwriting Management Limited, Newline Asia Services Pte. Ltd. and Newline Insurance Company Limited. The Company subscribed through offices in the United States, London, Paris, Singapore, Toronto and Mexico City.

Certain statements contained herein constitute forward-May-looking statements that are made pursuant to the "safe harbor" of the Private Securities Litigation Reform Act of 1995. These statements are subject to known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These factors include, among others, the following: a reduction of income If the net loss reserves of the Company are insufficient, the occurrence of catastrophic events with a frequency or severity exceeding the Company's estimates, the lowering or loss of the Company's financial or claims paying ratings including those of subsidiaries of the Company, an inability to achieve the investment objectives of the Company and a decrease in the level of demand for reinsurance company or an insurance company, or increased competition; and Claim Emerging issues of coverage, the risk that ongoing regulatory developments will disrupt the Company's business or mandate changes in industry practices that increase the costs of the Company, changes in economic conditions, including rates of interest, foreign exchange, equity and credit conditions, the inability of society to access funds from its subsidiaries, the loss of services of one of the key employees of the Company, risks associated with using by the Company of reinsurance brokers; failure of reinsurers to society to meet their obligations, the regulatory and legislative changes, risks associated with the growth of insurance business of the Corporation expertise and other factors that are described in the company filings with the Securities and Exchange Commission. Unless otherwise required by federal law securities, we assume no obligation to update or revise publicly any forward-looking statements, whether as a result of new information , future events or otherwise.

SOURCE: Odyssey Re Holdings Corp.

Odyssey Re Holdings Corp.
R. Scott Donovan, 203-977-0199
Chief Financial Officer