Company: FRFXF
Filing Date: 2025-10-01
Form Type: F-10
Source: 0001104659-25-095645
Chunk: 101

Company: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN
Filing Date: 2025-10-01
Form: F-10
Chunk 101
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. Lloyd’s Europe can accept risks and issue policies via Lloyd’s Europe registered brokers, service companies and coverholders. All Lloyd’s Europe policies are then 100% reinsured back to Lloyd’s syndicates (each risk bound by Lloyd’s Europe is allocated to a relevant syndicate), meaning that clients will benefit from Lloyd’s chain of security (as described above). This structure enables the members of Syndicate 2987, Syndicate 2988, Syndicate 1218 and Syndicate 2232 to continue to have an interest in EEA business (albeit as reinsurers rather than direct insurers). For completeness, we note that all of Lloyd’s historic general insurance EEA business was transferred from Lloyd’s to Lloyd’s Europe with effect from December 30, 2020 pursuant to Part VII of FSMA (including any EEA business of the members of Syndicate 2987, Syndicate 2988, Syndicate 1218 and Syndicate 2232 — such business was subsequently 100% reinsured by the members of the relevant syndicate).

With regard to EEA firms (such as AWAC Europe U.K. Branch) carrying on business in the United Kingdom, HM Treasury legislated for a temporary permissions regime (“

#### TPR
”) that took effect from the end of the implementation period referred to above. The aim of the TPR was to allow firms that wished to continue carrying on business in the United Kingdom in the longer term to operate in the United Kingdom for a limited period after the passporting regime ended while they sought full authorization from U.K. regulators. Under the TPR, a firm that was previously authorized to carry on regulated activities in the United Kingdom on a freedom of establishment or freedom of services basis was able to obtain a deemed permission to carry on those activities for a maximum of three years from the end of the implementation period, subject to HM Treasury’s power to extend the duration of the regime by increments of 12 months. AWAC Europe U.K. Branch previously benefited from the TPR but exited the TPR, on July 13, 2023 upon receiving authorization for its U.K. branch to become a U.K. branch of an international insurer.

Ogden Tables

Our insurance business in the United Kingdom includes insurance of liability for personal injury. Where a personal injury claim is determined or settled with a lump sum payment, the payment is calculated in accordance with the “Ogden Tables.” The Ogden Tables contain a discount rate that is set by the U.K