Company: FRFXF
Filing Date: 2025-03-26
Form Type: 424B3
Source: 0001104659-25-028272
Chunk: 15

Company: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN
Filing Date: 2025-03-26
Form: 424B3
Chunk 15
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 of regulatory, political, economic or other influences 
 in the insurance and reinsurance industries.                                                                  |

| · | Our international business is subject to applicable laws and regulations relating to sanctions and foreign 
 corrupt practices, the violation of which could adversely affect our operations.                           |

| · | Certain business practices of the insurance industry have been the subject of negative publicity and investigations 
 by government authorities and the subject of class action litigation.                                               |

| · | Political and other developments in foreign jurisdictions in which we operate could adversely affect our 
 business and assets.                                                                                     |

| · | We may be subject to regulatory proceedings or significant litigation, which will be expensive and time 
 consuming and, if decided against us, could require us to pay substantial judgments or settlements.     |

| · | Our significant shareholder may substantially influence our direction and operations. |

| · | We may be adversely affected by foreign currency fluctuations. |

| · | We rely on independent brokers over whom we exercise little control, which exposes us to certain risks. |

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| · | Financial reporting risks associated with IFRS 17 (as defined below). |

| · | Financial reporting risks relating to deferred taxes associated with amendments to IAS 12. |

| · | To the extent that the value of our goodwill, indefinite-lived intangible assets or investments in associates 
 is impaired, we are required to write down the value of such assets.                                          |

| · | Our failure to realize deferred income tax assets could lead to a write-down or tax authorities may take 
 differing positions from ours, either of which could adversely affect our results of operations.         |

| · | Canadian or foreign tax laws, or the interpretation thereof, could change in a manner that adversely affects 
 us.                                                                                                          |

| · | Technological or other changes could adversely impact demand, or the premiums payable, for the insurance 
 coverages we offer.                                                                                      |

| · | Assessments and other surcharges for guaranty funds and second-injury funds and other mandatory pooling 
 arrangements may reduce the profitability of our insurance subsidiaries.                                |

Risk Factors Relating to the Exchange Notes

| · | The market value of the Exchange Notes may be affected by changes in credit ratings. |

| · | The Exchange Notes are effectively subordinated to the indebtedness of our subsidiaries (other than Allied 
 World).                                                                                                    |

| · | We may incur additional indebtedness that may adversely affect our ability to meet our financial obligations 
 under the Exchange