Fairfax, Odyssey Re Receive SEC Subpoenas in “Non-Traditional Insurance” Probe

Toronto-based Fairfax Financial Holdings Limited announced that the Fairfax group, including its reinsurance subsidiary Odyssey Re, have received a subpoena from the Securities and Exchange Commission requesting documents regarding any non-traditional insurance or reinsurance product transactions entered into by group members.

Fairfax said it “is cooperating with that request”.

In a separate statement Odyssey Re also acknowledged the request, as received by Fairfax, and indicated that, “as an affiliate of Fairfax, Odyssey Re is reviewing its obligations under the subpoena and intends to cooperate fully with the SEC in connection with this request.”