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                                                                   EXHIBIT 10.14

                                  FAIRFAX, INC.
                            TAX ALLOCATION AGREEMENT

     The purpose of this agreement (the "Agreement") is to determine the amount
of federal and (where applicable) state income tax allocated to members of the
affiliated group (as described below) and the amount each will pay to or receive
from Fairfax, Inc. This Agreement is between Fairfax, Inc., a Wyoming
corporation ("Parent"), and the undersigned subsidiary corporations (hereafter
collectively called the "Subsidiaries" or individually called "Subsidiary").
Parent and the Subsidiaries are sometimes hereafter collectively referred to as
the "Group". Each Subsidiary is a party to an intercompany tax allocation
agreement with its respective subsidiaries, which groups are collectively
referred to as "Subsidiary Groups".

     1. The members of the Group are affiliated corporations and have elected to
file a consolidated federal income tax return under the provisions of Section
1501, et seq., of the Internal Revenue Code of 1986, as amended, (the "Code").
Each Subsidiary will remit to the Parent the federal income tax liability for
the Subsidiary Group as determined under their separate intercompany tax
allocation agreements. Parent will then prepare, or cause to be prepared, and
will file the consolidated federal income tax return and pay the tax for the
Group. The Parent and Subsidiary Groups shall review the accuracy of the
accounting and methodology of the consolidated federal income tax return and
make any necessary adjustments no less than thirty (30) days prior to the filing
of the return.

     2. Each Subsidiary shall pay its Subsidiary Group's tax liability to the
Parent by no later than the applicable due date or dates that such payments
would have been required by the internal Revenue Service if the Subsidiary had
filed a separate return, or as soon thereafter as possible.

     3. If a Subsidiary Group would not have to pay any federal income tax or
would have a claim for refund of federal income taxes, the Parent will pay to
such Subsidiary Group an amount equal to the refund such Subsidiary Group would
have been entitled to under their separate intercompany tax allocation
agreement. The Parent shall make the payment to the Subsidiary by no later than
the applicable due date or dates that payment would have been made

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by the Internal Revenue Service if such Subsidiary had filed a timely claim for
refund, or as soon thereafter as possible.

     4. If all or a portion of the Group is required or has elected to file a
unitary or combined state income tax return (each such Group hereafter called a
"State Group"), the parent of the particular State Group will compute, report
and pay the State Group's state income tax liability in accordance with the
applicable state laws and regulations and will file the State Group's required
annual return. Within thirty (30) days from the filing of the State Group's
annual return, the parent of the State Group will calculate and assess to each
member of the State Group its share of the State Group's state income tax
liability based on (i) the methodology required or established by state income
tax law or, (ii) if none, the percentage of each member's separate income or tax
divided by the total separate income or tax of the State Group. Within thirty
(30) days of such assessment, each member will pay to the Parent its share of
the state income tax liability.

     5. If after the filing of a return it is determined that the liability
computed hereunder is incorrect, whether by reason of an Internal Revenue
Service or state audit, discovery of error, the learning of new information, or
otherwise, appropriate payments including allocations of penalty and/or
interest, if applicable, shall be made promptly to reflect the payments that
should have been made.

     6. In lieu of actual payments, adjustments to intercompany payables and
receivables may be made, and any net balances due will be paid within 90 days of
each adjustment. All payments under this Agreement, including subsequent changes
in the amount of a Subsidiary's tax liability or reimbursement payment, shall be
considered an intercompany payable or receivable, as the case may be, until such
adjustment is paid, and shall not be considered a dividend or surplus
contribution.

     7. The Parent agrees to indemnify and reimburse each Subsidiary for any and
all claims, demands and expenses in the event that the Internal Revenue Service
levies upon the assets of such Subsidiary for unpaid taxes, including penalties
and interest, in excess of that amount for which such Subsidiary may be liable
pursuant to the terms of this Agreement.

     8. This Agreement shall be applicable only with respect to periods for
which the parties are members of the same affiliated Group filing a consolidated
federal income tax return.

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No adjustments hereunder shall be made with respect to periods for which either
the Parent or one or more of the Subsidiaries filed a separate return or is a
member of another affiliated Group filing a consolidated federal income tax
return. If at any time the Parent acquires, creates, or otherwise adds one or
more entities that are includable members of the Group (as defined under Section
1504 of the Code), it is understood that any such entity shall automatically be
made subject to this Agreement to the same extent as if such entity had been an
original party to the Agreement.

     9. This Agreement shall take effect as of January l, 2000 and shall
continue until terminated by the mutual written agreement of all of the parties.
In the event any party ceases to be affiliated with the Group, this Agreement
automatically terminates only with respect to that member. This Agreement shall
also terminate if the Group fails to file a consolidated federal income tax
return for any tax year of this Agreement. Notwithstanding the termination of
this Agreement, its provisions will remain in effect, with respect to any period
of time during the tax year in which termination occurs, for which the income of
the terminating party must be included in the consolidated federal income tax
return.

     10. This Agreement may, from time to time, be amended, modified, and
supplemented in such manner as may be mutually agreed upon by the parties,
subject to the approval of any regulatory authorities as required by law. Any
amendment, modification or supplement to this Agreement shall be in writing and
shall be executed by a duly appointed representative of each of the parties.

     11. Every article, term, condition and provision of this Agreement is
declared to be independent of and severable from all other articles, terms,
conditions and provisions of the Agreement. Invalidation, whether judicial or
otherwise, of any article, term, condition or provision contained in this
Agreement shall in no way affect any other provisions of this Agreement, all of
which shall remain in full force and effect.

     12. The books, accounts, tax returns and records of the Parent,
Subsidiaries, and Subsidiary Groups shall be maintained so as to clearly and
adequately disclose the precise nature and details of the obligations and
liabilities under this Agreement. All materials relating to the tax returns,
including but not limited to the returns, supporting schedules, work papers, and
correspondence, shall be available for inspection at any time during normal
business hours by the

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Parent or any Subsidiary Group member. Each party to this Agreement shall
maintain, at its principal or home office, records of all tax allocations, and
any subsequent Internal Revenue Service or state review or adjustment. The
provisions of this section shall survive termination of this Agreement.

     13. This Agreement has been approved by the Board of Directors of each
party to this Agreement to the extent required by regulatory authorities.

     14. This Agreement is not assignable by any party without the prior written
consent of the other parties.

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed by duly authorized officers to be effective January 1, 2000.

                               FAIRFAX, INC.

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

                               CRUM & FORSTER HOLDINGS, INC.

                               By:    /s/ MARY JANE ROBERTSON
                                   ---------------------------------------------
                                   Name:  Mary Jane Robertson
                                   Title: Executive VP and CFO

                               ODYSSEY RE HOLDINGS, INC.

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

                               RIVERSTONE GROUP, LLC.

                               By:    /s/ WILLIAM J. GILLETT
                                   ---------------------------------------------
                                   Name:  William J. Gillett
                                   Title: Senior Vice President, General Counsel
                                             & Secretary

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                               TIG HOLDINGS, INC.

                               By:    /s/ WILLIAM H. NAFF, III
                                   ---------------------------------------------
                                   Name:  William H. Naff, III
                                   Title: SVP

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                                                                   EXHIBIT 10.15

                          MASTER REPURCHASE AGREEMENT

     Effective as of July 1, 2000 by and between Crum & Forster Indemnity
Company ("C&F Indemnity") and Fairfax Financial Holdings Limited ("Fairfax").

     WHEREAS, C&F Indemnity, in the normal course of its business, may from time
to time agree to pay claims to policyholders that require it to sell or
otherwise liquidate certain securities or other invested assets in order to
raise sufficient cash to make such payments; and

     WHEREAS, C&F Indemnity typically pays policyholder claims prior to
receiving reimbursement for such claims from its reinsurers, requiring C&F
Indemnity to make cash payments on claims that can greatly exceed its ultimate
net liability for such claims and creating a timing gap between payments by C&F
Indemnity and recovery from its reinsurers; and

     WHEREAS, Fairfax, as the indirect owner of C&F Indemnity, has an interest
in maximizing the return on invested assets of C&F Indemnity; and

     WHEREAS, Fairfax seeks to assist C&F Indemnity in managing its cash flow to
eliminate or minimize investment losses resulting from the sale or liquidation
of securities in order to cover short-term cash requirements.

     NOW, THEREFORE, for due and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, the parties agree as follows:

1.   TRANSACTIONS

     From time to time, the parties hereto may enter in to transactions (each a
     "Transaction") in which C&F Indemnity agrees to transfer to Fairfax certain
     securities ("Securities") against the transfer of an amount in United
     States dollars equal to the fair market value of such Securities on the
     date of transfer, such amount not to exceed U.S. $5,000,000 singly or, when
     combined with amounts then outstanding from any other Transaction, in the
     aggregate (the "Purchase Price") by Fairfax to C&F Indemnity and Fairfax
     agrees to transfer to C&F Indemnity such Securities on a date to be agreed
     by Fairfax and C&F Indemnity and which shall be on or before December 31 of
     the year during which such transfer is made (the "Repurchase Date"),
     against the transfer of funds by C&F Indemnity.

2.   REPURCHASE

     C&F Indemnity shall repurchase the Securities from Fairfax on or before the
     Repurchase Date for an amount not to exceed the sum of the Purchase Price
     and the aggregate amount obtained by daily application of the stated
     interest rate of each Security to the Purchase Price paid for such Security
     on a 360 day per year basis for the actual number of days during the period
     commencing on the (and including) the Purchase Date and ending on (but
     excluding) the Repurchase Date.

3.   INCOME PAYMENTS

     C&F Indemnity shall be entitled to receive, with respect to any Security at
     any time, an amount equal to any principal thereof and all interest,
     dividends or other distributions thereon ("Income") paid or distributed in
     respect of the Securities that are not otherwise received by C&F Indemnity
     to the full extent it would be so entitled if the Securities had not been
     sold to Fairfax. Fairfax shall, as the parties may agree (or, in the
     absence of any such agreement, as Fairfax shall reasonably determine in its
     discretion), on the date such Income is paid or distributed either (i)
     transfer to or credit to the accounts of C&F Indemnity such Income with
     respect to any Securities or (ii) with respect to Income paid in cash,
     apply the Income payment or payments to reduce the amount, if any, to be
     transferred to Fairfax by C&F Indemnity upon termination of the
     Transaction.

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4.   SECURITY INTEREST

     Although the parties intend that the Transaction be a sale and purchase and
     not a loan, in the event the Transaction is deemed to be a loan, C&F
     Indemnity shall be deemed to have pledged to Fairfax as security for the
     performance by C&F Indemnity of its obligations under the Transaction, and
     shall be deemed to have granted to Fairfax a security interest in, all of
     the Securities and all income thereon and other proceeds thereof.

5.   PAYMENT AND TRANSFER

     Unless otherwise mutually agreed, all transfers of funds hereunder shall be
     in immediately available funds. All Securities transferred by one party
     hereto to the other party (i) shall be in suitable form for transfer or
     shall be accompanied by duly executed instruments of transfer or assignment
     in blank and such other documentation as the party receiving possession may
     reasonably request, (ii) shall be transferred on the book-entry system of a
     Federal Reserve Bank, or (iii) shall be transferred by any other method
     mutually acceptable to C&F Indemnity and Fairfax.

6.   SEGREGATION OF SECURITIES

     To the extent required by applicable law, all Securities in the possession
     of Fairfax shall be segregated from other securities in its possession and
     shall be identified as subject to this Agreement. Segregation may be
     accomplished by appropriate identification on the books and records of the
     holder, including a financial or securities intermediary or a clearing
     corporation. All of C&F Indemnity's interest in the Securities shall pass
     to Fairfax on the Purchase Date and, unless otherwise agreed by Fairfax and
     C&F Indemnity, nothing in this Agreement shall preclude Fairfax from
     engaging in repurchase transactions with the Securities or otherwise
     selling, transferring, pledging or hypothecating the Securities, but no
     such transaction shall relieve Fairfax of its obligations to transfer
     Securities to C&F Indemnity pursuant to Paragraph 2 hereof, or of Fairfax's
     obligation to credit or pay Income to, or apply Income to the obligations
     of, C&F Indemnity pursuant to Paragraph 3 hereof.

7.   NOTICES AND OTHER COMMUNICATIONS

     Any and all notices or other communications hereunder shall be given by
     mail or facsimile as follows:

<Table>
    <S>                <C>
    To Fairfax:        Fairfax Financial Holdings Limited
                       95 Wellington Street West, Suite 800
                       Toronto, Ontario, Canada M5J 2N7
                       Facsimile: 416-367-2201
                       Attention: Chief Financial Officer
    To C&F Indemnity:  Crum & Forster Indemnity Company
                       305 Madison Avenue
                       Morristown, New Jersey 07960
                       Facsimile: 973-490-6612
                       Attention: Chief Financial Officer
</Table>

8.   ENTIRE AGREEMENT; SEVERABILITY

     This Agreement shall supersede any existing agreements between the parties
     concerning the subject matter hereof. Each provision and agreement herein
     shall be treated as separate and independent from any other provision or
     agreement herein and shall be enforceable notwithstanding the
     unenforceability of any such other provision or agreement.

9.   GOVERNING LAW

     This Agreement shall be governed by the laws of the State of New York
     without giving effect to the conflict of law principles thereof.

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10. COUNTERPARTS

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

                                          FAIRFAX FINANCIAL HOLDINGS LIMITED

                                          By:  /s/ BRADLEY P. MARTIN
                                            ------------------------------------
                                              Bradley P. Martin
                                              Title: Vice President

                                          CRUM & FORSTER INDEMNITY COMPANY

                                          By:  /s/ MARY JANE ROBERTSON
                                            ------------------------------------
                                              Mary Jane Robertson
                                              Title: Executive Vice President,
                                              CFO and Treasurer

                                          By:  /s/ VALERIE GASPARIK
                                            ------------------------------------
                                              By: Valerie Gasparik
                                              Title: Secretary

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