Document:

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                                                                   EXHIBIT 10.33

                             TAX SERVICES AGREEMENT

This Services Agreement (this "Agreement") is made by and between Odyssey
America Reinsurance Corporation, Odyssey Reinsurance Corporation, and Hudson
Insurance Company (collectively referred to as "ORG") and Fairfax Inc. (Fairfax)
and is effective as of the 10th day of May, 2001.

                                    RECITALS

           WHEREAS, Fairfax agrees to perform certain services and ORG agrees to
pay for such services as more specifically set forth herein;

           NOW, THEREFORE, in consideration of the mutual promises set forth
herein, the parties hereto agree as follows:

                                   ARTICLE I
                             SERVICES AND INVOICING

1.01   Nature of Services.  Fairfax shall provide tax consulting and compliance
       services (the "Services") to ORG.

1.02   Invoices.  During the period of time that Fairfax is actively providing
       Services to ORG pursuant to this Agreement, Fairfax shall send ORG an
       invoice on a quarterly basis in such form as Fairfax deems appropriate.
       The invoice amount will reflect a quarterly base fee of $25,000 for
       services rendered by Fairfax. The $25,000 fee shall be the minimum fee
       due each quarter for the base level of services provided and shall be
       allocated to the companies as follows: Odyssey America Reinsurance
       Corporation in the amount of $10,000, Odyssey Reinsurance Corporation in
       the amount of $10,000, and Hudson Insurance Company in the amount of
       $5,000. In addition to this minimum base fee for the standard services
       provided each quarter, the invoice shall also include an additional
       charge for any fees and/or reasonable expenses paid by Fairfax to
       independent service providers including without limitation attorneys,
       accountants, and outside consultants on behalf of ORG. If an additional
       charge is included in the invoice, Fairfax shall include a schedule
       briefly describing the expenses and/or fees and specifying the companies
       for whom the expenses and/or fees were incurred. Upon mutual agreement by
       both parties, the quarterly base fee may be adjusted. All invoices are
       due and payable upon presentation.

                                   ARTICLE II
                               DUTIES OF FAIRFAX

2.01   Compliance.  Fairfax shall comply with all applicable local, state, and
       federal laws and regulations regarding Fairfax's duties under this
       Agreement and shall maintain all licenses which may be required for
       Fairfax to perform their duties herein. Fairfax shall advise ORG within
       five (5) days of any inquiry, investigation, cease and desist order, or
       other similar item received from any state or federal regulatory or law
       enforcement body that Fairfax deems to be material whether or not related
       to services to be performed herein.

2.02   Record Keeping.  Fairfax shall maintain true and correct records relating
       to the Services provided herein. Such records shall be maintained during
       the Term of this Agreement and for a period of 3 years after termination
       of this Agreement. Fairfax shall make such books and records available
       for inspection (including on-site inspection, audit, and copying) by ORG,
       at any time upon reasonable notice to Fairfax, during the Term hereof and
       for a period of 3 years thereafter. Fairfax may charge ORG a reasonable
       fee for maintaining and providing ORG availability to these records
       during this period.

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                                  ARTICLE III
                            RIGHTS AND DUTIES OF ORG

3.01   General Rights and Duties.  ORG shall make such changes as ORG deems
       advisable in the conduct of its business and no liability shall attach by
       reason of doing so. ORG shall give reasonable notice to Fairfax regarding
       any changes that would materially affect the performance of Fairfax's
       duties under this Agreement or add to those duties.

                                   ARTICLE IV
                                CONFIDENTIALITY

4.01   Confidential Information.  The term "Confidential Information" as used in
       this Agreement shall mean all information or documents relating to the
       business or affairs of ORG including, but not limited to, any electronic
       data provided to Fairfax by ORG, provided, however, that Confidential
       Information shall not include any information that is already publicly
       known or publicly available in a lawful manner, or rightfully received
       from a third party without obligations of confidence, or information that
       is developed by Fairfax not in connection with this Agreement. The
       parties hereto agree that the Confidential Information is the property of
       and proprietary to ORG and such Confidential Information shall be used
       only for the contemplated purposes of this Agreement and shall not be
       used for any other purpose or disclosed to any third party without the
       prior written consent of ORG.

4.02   Use of Confidential Information.  It is understood and agreed that
       Fairfax, in connection with the Services, may come into the possession of
       Confidential Information. Fairfax shall take reasonable precautions to
       ensure protection and continued confidentiality of such Confidential
       Information and such Confidential Information shall be used only for the
       contemplated purposes of this Agreement and shall not be used for any
       other purpose or disclosed to any third party without the prior written
       consent of ORG. Fairfax shall not disclose, provide or otherwise make
       available any such Confidential Information to any persons other than
       members of Fairfax's staff, if any, who reasonably require access to such
       Confidential Information for purposes of performing the Services. Fairfax
       shall not print, copy, or reproduce in any way, the Confidential
       Information, except as may be required in connection with the Services.
       Upon termination of this Agreement and notice and request by ORG, Fairfax
       shall return all Confidential Information in its possession to ORG.

                                   ARTICLE V
                                INDEMNIFICATION

5.01   Indemnification.  Each party ("Indemnifying Party") agrees to indemnify
       and hold harmless the other party ("Indemnified Party"), its officers,
       directors, agents, and employees from and against all liabilities,
       losses, expenses, claims, demands, suites, fines, or judgements
       including, but not limited to, attorneys' fees, costs, and expenses
       incident thereto which may be suffered by, accrued against, be charged to
       or recoverable from the Indemnified Party, its officers, directors,
       agents, or employees, by reason of or arising out of or in connection
       with any negligent or intentional acts, errors, or omissions of the
       Indemnifying Party, its officers, directors, agents, or employees.

5.02   Notice with Respect to Indemnification.  The Indemnified Party shall
       provide the Indemnifying Party notice of any proceedings to which this
       Article V applies as soon as the Indemnified Party learns of such
       proceedings.

                                   ARTICLE VI
                                  TERMINATION

6.01   Termination Upon Notice.  This Agreement may be terminated without cause
       by either party giving the other party 90 days written notice.

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                                  ARTICLE VII
                                 MISCELLANEOUS

7.01   Governing Law.  This Agreement shall be governed by and construed in
       accordance with the laws of the State of New York, without regard to its
       rules regarding conflict of laws.

7.02   Severability.  Wherever possible, each provision of this Agreement will
       be interpreted in such a manner and to such an extent as to be effective
       and valid under applicable law. If any provision is prohibited by or
       invalid under applicable law, such provision will be ineffective only to
       the extent of such prohibition or invalidity.

7.03   Integration, Waiver, and Amendment.  This Agreement constitutes the
       entire agreement between ORG and Fairfax and supersedes any and all other
       agreements, either oral or written, between ORG and Fairfax with respect
       to the Services. No waiver by either party to enforce any provision of
       this Agreement will be effective unless made in writing and signed by an
       authorized officer of ORG and Fairfax and shall be effective as to the
       specifically stated waiver. No amendment to this Agreement will be
       effective unless made in writing and signed by the parties hereto, and
       specifying the effective date of such amendment.

7.04   Conformance to Law.  This Agreement shall, without prior notice, be
       automatically modified to conform with any law or governmental regulation
       having application to or jurisdiction over the subject matter of the
       parties hereto, and the parties shall promptly amend the Agreement to
       comply with such modifications.

7.05   Dispute Resolution.  Any controversy or claim arising out of or relating
       to this Agreement or the breach thereof, shall be settled by arbitration
       administered by the American Arbitration Association under its Commercial
       Arbitration Rules, and judgment on the award rendered by the
       arbitrator(s) may be entered in any court having jurisdiction thereof.

           This Section 7.05 shall survive termination of this Agreement.

7.06   Counterparts.  This Agreement may be executed in two or more
       counterparts, each of which shall be deemed an original but which
       together shall constitute one and the same instrument.

7.07   Term.  This Agreement shall continue in full force and effect (unless
       terminated earlier as set out in Article VI hereof) until December 31,
       2001 ("Initial Term) and shall be automatically renewed beginning January
       1, 2002, for successive term(s) of one (1) calendar year each
       ("Successive Term(s)") unless terminated earlier as provided herein. The
       Initial Term and Successive Term(s) shall collectively be referred to as
       "Term(s)".

7.08   Notice.  Except as otherwise set forth herein, any notice required under
       this Agreement must be in writing and sent certified mail, fax, or
       personally delivered. Notice shall be effective upon receipt, or five (5)
       days after mailing to the other party, whichever comes first. Unless
       changed, the addresses of the respective parties are:
       FAIRFAX:  Fairfax Tax Dept
                 5205 North O'Connor Blvd.
                 Irving, Texas 75039
                 Attention:  Cynthia D. Crandall
       ORG:       Odyssey America Reinsurance Corporation
                  300 First Stamford Place
                  Stamford, Connecticut 06902
                  Attention:  General Counsel

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           IN WITNESS WHEREOF, the parties hereto have caused this Services
Agreement to be executed as of the day and year first above written.

ODYSSEY AMERICA REINSURANCE CORPORATION
By: /s/ DONALD L. SMITH
    ----------------------------------
    Name Printed: Donald L. Smith
    Title:          Senior Vice
    President

ODYSSEY REINSURANCE CORPORATION
By: /s/ DONALD L. SMITH
    ----------------------------------
    Name Printed: Donald L. Smith
    Title:          Senior Vice
    President

HUDSON INSURANCE COMPANY
By: /s/ DONALD L. SMITH
    ----------------------------------
    Name Printed: Donald L. Smith
    Title:          Vice President

FAIRFAX, INC.
By: /s/ CYNTHIA D. CRANDALL
    ----------------------------------
    Name Printed: Cynthia D. Crandall
    Title:          Vice President

                                        4<PAGE>   1

                                                                   EXHIBIT 10.34

                             TAX SERVICES AGREEMENT

     This Services Agreement (this "Agreement") is made by and between Odyssey
Re Holdings Corp. ("OReH") and Fairfax Inc. (Fairfax) and is effective as of the
10th day of May, 2001.

                                    RECITALS

     WHEREAS, Fairfax agrees to perform certain services and OReH agrees to pay
for such services as more specifically set forth herein;

     NOW, THEREFORE, in consideration of the mutual promises set forth herein,
the parties hereto agree as follows:

                                   ARTICLE I

                             SERVICES AND INVOICING

     1.01 Nature of Services.  Fairfax shall provide tax consulting and
compliance services (the "Services") to OReH.

     1.02 Invoices.  During the period of time that Fairfax is actively
providing Services to OReH pursuant to this Agreement, Fairfax shall send OReH
an invoice on a quarterly basis in such form as Fairfax deems appropriate. The
invoice amount will reflect a fee to be mutually agreed to by both parties for
services rendered by Fairfax plus any fees and/or reasonable expenses paid by
Fairfax to independent service providers including without limitation attorneys,
accountants, and outside consultants on behalf of OReH. Upon mutual agreement by
both parties, the quarterly base fee may be adjusted for changes in services
provided or costs incurred. All invoices are due and payable upon presentation.

                                   ARTICLE II

                               DUTIES OF FAIRFAX

     2.01 Compliance.  Fairfax shall comply with all applicable local, state,
and federal laws and regulations regarding Fairfax's duties under this Agreement
and shall maintain all licenses which may be required for Fairfax to perform
their duties herein. Fairfax shall advise OReH within five (5) days of any
inquiry, investigation, cease and desist order, or other similar item received
from any state or federal regulatory or law enforcement body that Fairfax deems
to be material whether or not related to services to be performed herein.

     2.02 Record Keeping.  Fairfax shall maintain true and correct records
relating to the Services provided herein. Such records shall be maintained
during the Term of this Agreement and for a period of 3 years after termination
of this Agreement. Fairfax shall make such books and records available for
inspection (including on-site inspection, audit, and copying) by OReH, at any
time upon reasonable notice to Fairfax, during the Term hereof and for a period
of 3 years thereafter. Fairfax may charge OReH a reasonable fee for maintaining
and providing OReH availability to these records during this period.

                                  ARTICLE III

                            RIGHTS AND DUTIES OF ORG

     3.01 General Rights and Duties.

     OReH shall make such changes as OReH deems advisable in the conduct of its
business and no liability shall attach by reason of doing so. OReH shall give
reasonable notice to Fairfax regarding any changes that would materially affect
the performance of Fairfax's duties under this Agreement or add to those duties.

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                                   ARTICLE IV

                                CONFIDENTIALITY

     4.01 Confidential Information.  The term "Confidential Information" as used
in this Agreement shall mean all information or documents relating to the
business or affairs of OReH including, but not limited to, any electronic data
provided to Fairfax by OReH, provided, however, that Confidential Information
shall not include any information that is already publicly known or publicly
available in a lawful manner, or rightfully received from a third party without
obligations of confidence, or information that is developed by Fairfax not in
connection with this Agreement. The parties hereto agree that the Confidential
Information is the property of and proprietary to OReH and such Confidential
Information shall be used only for the contemplated purposes of this Agreement
and shall not be used for any other purpose or disclosed to any third party
without the prior written consent of OReH.

     4.02 Use of Confidential Information.  It is understood and agreed that
Fairfax, in connection with the Services, may come into the possession of
Confidential Information. Fairfax shall take reasonable precautions to ensure
protection and continued confidentiality of such Confidential Information and
such Confidential Information shall be used only for the contemplated purposes
of this Agreement and shall not be used for any other purpose or disclosed to
any third party without the prior written consent of OReH. Fairfax shall not
disclose, provide or otherwise make available any such Confidential Information
to any persons other than members of Fairfax's staff, if any, who reasonably
require access to such Confidential Information for purposes of performing the
Services. Fairfax shall not print, copy, or reproduce in any way, the
Confidential Information, except as may be required in connection with the
Services. Upon termination of this Agreement and notice and request by OReH,
Fairfax shall return all Confidential Information in its possession to OReH.

                                   ARTICLE V

                                INDEMNIFICATION

     5.01 Indemnification.  Each party ("Indemnifying Party") agrees to
indemnify and hold harmless the other party ("Indemnified Party"), its officers,
directors, agents, and employees from and against all liabilities, losses,
expenses, claims, demands, suites, fines, or judgements including, but not
limited to, attorneys' fees, costs, and expenses incident thereto which may be
suffered by, accrued against, be charged to or recoverable from the Indemnified
Party, its officers, directors, agents, or employees, by reason of or arising
out of or in connection with any negligent or intentional acts, errors, or
omissions of the Indemnifying Party, its officers, directors, agents, or
employees.

     5.02 Notice with Respect to Indemnification.  The Indemnified Party shall
provide the Indemnifying Party notice of any proceedings to which this Article V
applies as soon as the Indemnified Party learns of such proceedings.

                                   ARTICLE VI

                                  TERMINATION

     6.01 Termination Upon Notice.  This Agreement may be terminated without
cause by either party giving the other party 90 days written notice.

                                  ARTICLE VII

                                 MISCELLANEOUS

     7.01 Governing Law.  This Agreement shall be governed by and construed in
accordance with the laws of the State of Delaware, without regard to its rules
regarding conflict of laws.

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     7.02 Severability.  Wherever possible, each provision of this Agreement
will be interpreted in such a manner and to such an extent as to be effective
and valid under applicable law. If any provision is prohibited by or invalid
under applicable law, such provision will be ineffective only to the extent of
such prohibition or invalidity.

     7.03 Integration, Waiver, and Amendment.  This Agreement constitutes the
entire agreement between OReH and Fairfax and supersedes any and all other
agreements, either oral or written, between OReH and Fairfax with respect to the
Services. No waiver by either party to enforce any provision of this Agreement
will be effective unless made in writing and signed by an authorized officer of
OReH and Fairfax and shall be effective as to the specifically stated waiver. No
amendment to this Agreement will be effective unless made in writing and signed
by the parties hereto, and specifying the effective date of such amendment.

     7.04 Conformance to Law.  This Agreement shall, without prior notice, be
automatically modified to conform with any law or governmental regulation having
application to or jurisdiction over the subject matter of the parties hereto,
and the parties shall promptly amend the Agreement to comply with such
modifications.

     7.05 Dispute Resolution.  Any controversy or claim arising out of or
relating to this Agreement or the breach thereof, shall be settled by
arbitration administered by the American Arbitration Association under its
Commercial Arbitration Rules, and judgment on the award rendered by the
arbitrator(s) may be entered in any court having jurisdiction thereof.

     This Section 7.05 shall survive termination of this Agreement.

     7.06 Counterparts.  This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original but which together shall
constitute one and the same instrument.

     7.07 Term.  This Agreement shall continue in full force and effect (unless
terminated earlier as set out in Article VI hereof) until December 31, 2001
("Initial Term) and shall be automatically renewed beginning January 1, 2002,
for successive term(s) of one (1) calendar year each ("Successive Term(s)")
unless terminated earlier as provided herein. The Initial Term and Successive
Term(s) shall collectively be referred to as "Term(s)".

     7.08 Notice.  Except as otherwise set forth herein, any notice required
under this Agreement must be in writing and sent certified mail, fax, or
personally delivered. Notice shall be effective upon receipt, or five (5) days
after mailing to the other party, whichever comes first. Unless changed, the
addresses of the respective parties are:

     FAIRFAX:     Fairfax Tax Dept
                  5205 North O'Connor Blvd.
                  Irving, Texas 75039
                  Attention: Cynthia D. Crandall

     ORG:          Odyssey Re Holdings Corp.
                   300 First Stamford Place
                   Stamford, Connecticut 06902
                   Attention: General Counsel

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     7.09

     IN WITNESS WHEREOF, the parties hereto have caused this Services Agreement
to be executed as of the day and year first above written.

                                          ODYSSEY RE HOLDINGS CORP.

                                          By:      /s/ DONALD L. SMITH
                                          --------------------------------------
                                          Name Printed: Donald L. Smith
                                          --------------------------------------
                                          Title: Senior Vice President
                                          --------------------------------------

                                          FAIRFAX, INC.

                                          By:    /s/ CYNTHIA D. CRANDALL
                                          --------------------------------------
                                          Name Printed: Cynthia D. Crandall
                                          --------------------------------------
                                          Title: Vice President
                                          --------------------------------------

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