Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 31, 2009, Brian Young was appointed Executive Vice President and Chief Operating Officer of Odyssey Re Holdings Corp. ("OdysseyRe") effective May 1, 2009. For the past year, Mr. Young, 44, has had overall responsibility for OdysseyRe's U.S. Insurance and London Market Divisions, serving as Chief Executive Officer of Global Insurance and London Market Operations for Odyssey America Reinsurance Corporation ("Odyssey America"), OdysseyRe's principal operating subsidiary. He previously managed Odyssey America's London Market Division for more than six years. An amendment to this Form 8-K will be filed to disclose the material terms of an employment agreement between OdysseyRe and Mr. Young, following the finalization of such an agreement.

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