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| Odyssey Re Holdings Corp. |
| 140 Broadway, 39th Floor, New York, NY 10005 * (212) 978-4700 |
| Business Description | The company is a leading U.S. based underwriter of reinsurance, providing a full range of property and casualty products on a worldwide basis. |
| Offering Information Company has | |||
| Trading As | ORH (NYSE) | Industry | Financial (SIC 6719) |
| Type of Stock Offered | Common Shares | Filing Date | 3/26/2001 |
| Domestic Shares Offered | 17,142,857 | Offer Date | 6/14/2001 |
| Foreign Shares Offered | 0 | Filing Range | $16.00 - $19.00 |
| Company Shares | 17,142,857 | Offer Price | $18.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.130 |
| Gross Proceeds | $308,571,426 | Selling | $0.640 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | - - | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Banc of America Securities LLC | Lead Manager | (415) 627-2100 |
| CIBC World Markets | Co-manager | (212) 667-7400 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | - - Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/1998 | 12/31/1999 | 12/31/2000 | ||||
| Revenues | - | - | 339.983 | 645.946 | 835.874 | - | - |
| Income from Oper. | - | - | - | - | - | - | - |
| Net Income | - | - | 33.696 | 52.925 | 39.333 | - | - |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | - | - | 89.99 | 29.403 | - | ||
| Net Income Growth (%) | - | - | 57.07 | -25.68 | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | 9.91 | 8.19 | 4.71 | - | - |
| Cash Flow - Oper. | -113.55 | - | - | ||||
| Cash Flow - Inv. | 218.75 | - | - | ||||
| Cash Flow - Fin. | -85.00 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/2000 | Financial Ratios | ||||
| Total Assets | 4,254.10 | Current Assets | - | Current Ratio | - |
| Total Liab. | -953,620.90 | Current Liab. | - | Debt Ratio | - |
| Total Equity | 957,875.00 | Working Cap. | - | Debt to Equity Ratio | - |
| Cash | 154.53 | Return on Assets | 0.92% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for general corporate purposes which may include a capital contribution to the statutory surplus of Odyssey America, payment of interest on outstanding debt or payment of the quarterly cash dividend. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Shearman & Sterling |
| Bank's Law Firm | Simpson, Thacher & Bartlett |
| Auditor | Pricewaterhouse Coopers LLC |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| TIG Insurance Company | ||
| ORH Holdings Inc. | ||
| Note: represents ownership of 5% or more prior to the offering. | ||