Hudson Insurance Group Announces Expansion of its Financial Products Unit

STAMFORD, Conn.--(Business Wire)--
Hudson Insurance Group ("Hudson"), the U.S. Insurance division of Odyssey Re
Holdings Corp. (NYSE: ORH), today announced the opening of two new regional
offices, in San Francisco, CA and Chicago, IL, which will provide insurance
agents, brokers and their clients with local access to management liability
insurance coverage. Both offices will report to James J. Hooghuis, Executive
Vice President and Chief Underwriting Officer of Hudson Financial Products.

Paul J. Parello has joined Hudson Financial Products as Vice President, and will
oversee underwriting operations in the Chicago office, located at 20 N. Wacker
Drive. Mr. Parello has over ten years of experience in underwriting directors
and officers liability coverage, most recently with National Union (AIG).

Ryan Kosakura has joined Hudson Financial Products as Vice President, and will
be responsible for underwriting operations in the San Francisco office, located
at 101 California Street. Mr. Kosakura, a Certified Public Accountant, has over
15 years of related financial and insurance experience, most recently as a
Managing Director with Carpenter Moore.

Brian D. Young, Chief Executive Officer of Global Insurance Operations, stated
"We are delighted with our recruiting and expansion efforts. The opening of two
new Hudson Financial Products offices in these strategically important locations
enhances Hudson's ability to service the needs of our clients."

Hudson Insurance Group is the U.S. Insurance division of Odyssey Re Holdings
Corp. ("OdysseyRe"), a leading worldwide underwriter of property and casualty
reinsurance and specialty insurance with nearly $3 billion in policyholders'
surplus. Hudson Insurance Group provides admitted and non-admitted insurance,
predominantly through Hudson Insurance Company and Hudson Specialty Insurance
Company, both rated "A" (Excellent) XV by A.M. Best Company. Hudson Insurance
Group specializes in primary and excess insurance coverages through Hudson
Programs, Hudson Healthcare, Hudson Financial Products, Hudson Environmental and
Hudson Crop.

OdysseyRe is traded on the NYSE under the symbol "ORH," and operates through its
subsidiaries Odyssey America Reinsurance Corporation, Hudson Insurance Company,
Hudson Specialty Insurance Company, Clearwater Insurance Company, Newline
Underwriting Management Limited, Newline Asia Services Pte. Ltd. and Newline
Insurance Company Limited, underwriting through offices in the United States,
London, Paris, Singapore, Toronto and Latin America.

Certain statements contained herein may constitute forward-looking statements
and are made pursuant to the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements are subject to
known and unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking statements. Such factors include, among others,
the following: a reduction in net income if the Company's loss reserves are
insufficient; the occurrence of catastrophic events with a frequency or severity
exceeding the Company`s estimates; the lowering or loss of one of the Company's
financial or claims-paying ratings, including those of the Company`s
subsidiaries; an inability to realize the Company's investment objectives; a
decrease in the level of demand for the Company's reinsurance or insurance
business, or increased competition; emerging claim and coverage issues; risks
relating to ongoing investigations by U.S. government authorities; the risk that
ongoing regulatory developments will disrupt the Company's business or mandate
changes in industry practices that increase the Company's costs; changes in
economic conditions, including interest rate, currency, equity and credit
conditions; the Company's inability to access its subsidiaries' cash; loss of
services of any of the Company's key employees; risks related to the Company's
use of reinsurance brokers; failure of the Company's reinsurers to honor their
obligations; regulatory and legislative changes; risks associated with the
growth of the Company's specialty insurance business; and other factors that are
described in the Company's filings with the Securities and Exchange Commission.
Except as otherwise required by federal securities laws, we undertake no
obligation to publicly update or revise any forward-looking statements, whether
as a result of new information, future events, or otherwise.

Hudson Insurance Group
Brian D. Young, 212-978-2800

Copyright Business Wire 2009