SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
(Amendment No. 5)*
Under the Securities Exchange Act of 1934
Hub International Limited
(Name of Issuer)
Common Shares
(Title of Class of Securities)
44332P101
(CUSIP Number)
DECEMBER 31, 2007
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[X] Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Cusip No. 44332P101 13G Page 2 of 24 Pages
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1 Names of Reporting Person/I.R.S. Identification Nos. of Above Persons
(Entities Only)
V. PREM WATSA
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
CANADIAN
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -----------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY -----------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON -----------------------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.0%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
2
Cusip No. 44332P101 13G Page 3 of 24 Pages
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1 Names of Reporting Person/I.R.S. Identification Nos. of Above Persons
(Entities Only)
1109519 ONTARIO LIMITED
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
ONTARIO, CANADA
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -----------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY -----------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON -----------------------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.0%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
CO
--------------------------------------------------------------------------------
3
Cusip No. 44332P101 13G Page 4 of 24 Pages
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1 Names of Reporting Person/I.R.S. Identification Nos. of Above Persons
(Entities Only)
THE SIXTY TWO INVESTMENT COMPANY LIMITED
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
BRITISH COLUMBIA, CANADA
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -----------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY -----------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON -----------------------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.0%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
CO
--------------------------------------------------------------------------------
4
Cusip No. 44332P101 13G Page 5 of 24 Pages
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1 Names of Reporting Person/I.R.S. Identification Nos. of Above Persons
(Entities Only)
810679 ONTARIO LIMITED
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
ONTARIO, CANADA
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -----------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY -----------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON -----------------------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.0%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
CO
--------------------------------------------------------------------------------
5
Cusip No. 44332P101 13G Page 6 of 24 Pages
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1 Names of Reporting Person/I.R.S. Identification Nos. of Above Persons
(Entities Only)
FAIRFAX FINANCIAL HOLDINGS LIMITED
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
CANADA
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -----------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY -----------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON -----------------------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.0%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
CO
--------------------------------------------------------------------------------
6
Cusip No. 44332P101 13G Page 7 of 24 Pages
--------------------------------------------------------------------------------
1 Names of Reporting Person/I.R.S. Identification Nos. of Above Persons
(Entities Only)
ODYSSEY RE HOLDINGS CORP.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -----------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY -----------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON -----------------------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.0%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
CO
--------------------------------------------------------------------------------
7
Cusip No. 44332P101 13G Page 8 of 24 Pages
--------------------------------------------------------------------------------
1 Names of Reporting Person/I.R.S. Identification Nos. of Above Persons
(Entities Only)
CLEARWATER INSURANCE COMPANY
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -----------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY -----------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON -----------------------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.0%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
CO
--------------------------------------------------------------------------------
8
Cusip No. 44332P101 13G Page 9 of 24 Pages
--------------------------------------------------------------------------------
1 Names of Reporting Person/I.R.S. Identification Nos. of Above Persons
(Entities Only)
MARKEL INSURANCE COMPANY OF CANADA
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
ONTARIO, CANADA
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -----------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY -----------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON -----------------------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.0%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
CO
--------------------------------------------------------------------------------
9
Cusip No. 44332P101 13G Page 10 of 24 Pages
--------------------------------------------------------------------------------
1 Names of Reporting Person/I.R.S. Identification Nos. of Above Persons
(Entities Only)
LOMBARD GENERAL INSURANCE COMPANY OF CANADA
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
ONTARIO, CANADA
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -----------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY -----------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON -----------------------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.0%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
CO
--------------------------------------------------------------------------------
10
ITEM 1(A). NAME OF ISSUER:
Hub International Limited
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
55 East Jackson Boulevard, Chicago, IL 60604
ITEM 2(A). NAME OF PERSON FILING:
This statement is being jointly filed by the following persons
(collectively, the "Reporting Persons"):
1. V. Prem Watsa, an individual;
2. 1109519 Ontario Limited ("1109519"), a corporation incorporated
under the laws of Ontario;
3. The Sixty Two Investment Company Limited ("Sixty Two"), a
corporation incorporated under the laws of British Columbia;
4. 810679 Ontario Limited ("810679"), a corporation incorporated
under the laws of Ontario;
5. Fairfax Financial Holdings Limited ("Fairfax"), a corporation
incorporated under the laws of Canada;
6. Odyssey Re Holdings Corp. ("Odyssey Re"), a corporation
incorporated under the laws of Delaware;
7. Clearwater Insurance Company, a corporation incorporated under
the laws of Delaware;
8. Markel Insurance Company of Canada, a corporation incorporated
under the laws of Canada; and
9. Lombard General Insurance Company of Canada, a corporation
incorporated under the laws of Canada.
ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE:
The addresses of the Reporting Persons are as follows:
1. Mr. Watsa's business address is 95 Wellington Street West, Suite
800, Toronto, Ontario, Canada, M5J 2N7;
11
2. The principal business address and principal office address of
1109519 is 95 Wellington Street West, Suite 800, Toronto,
Ontario, Canada, M5J 2N7;
3. The principal business address and principal office address of
Sixty Two is 1600 Cathedral Place, 925 West Georgia St.,
Vancouver, British Columbia, Canada, V6C 3L3;
4. The principal business address and principal office address of
810679 is 95 Wellington Street West, Suite 800, Toronto, Ontario,
Canada, M5J 2N7;
5. The principal business address and principal office address of
Fairfax is 95 Wellington Street West, Suite 800, Toronto,
Ontario, Canada, M5J 2N7;
6. The principal business address and principal office address of
Odyssey Re is 300 First Stamford Place, Stamford, Connecticut
06902;
7. The principal business address and principal office address of
Clearwater Insurance Company is 300 First Stamford Place,
Stamford, Connecticut 06902;
8. The principal business address and principal office address of
Markel Insurance Company of Canada is 55 University Avenue,
Toronto, Ontario M5J 2H7; and
9. The principal business address and principal office address of
Lombard General Insurance Company of Canada is 105 Adelaide
Street West, 7th Floor, Toronto, Ontario M5H 1P9.
ITEM 2(C). CITIZENSHIP:
V. Prem Watsa is a citizen of Canada.
ITEM 2(D). TITLE OF CLASS OF SECURITIES:
Common Shares
ITEM 2(E). CUSIP NUMBER:
44332P101
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR 13D-2(B) OR
(C), CHECK WHETHER THE PERSON FILING IS A:
(A) [ ] Broker or Dealer registered under Section 15 of the Act (15 U.S.C.
78o);
12
(B) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(C) [ ] Insurance Company as defined in section 3(a)(19) of the Act (15 U.S.C.
78c);
(D) [ ] An Investment Company registered under section 8 of the Investment
Company Act of 1940 (15 U.S.C. 80a-8);
(E) [ ] An investment adviser in accordance with Section
240.13d-1(b)(1)(ii)(E);
(F) [ ] An employee benefit plan or endowment fund in accordance with
Section 240.13d-1(b)(1)(ii)(F);
(G) [ ] A parent holding company or control person, in accordance with
Section 240.13d-1(b)(1)(ii)(G);
(H) [ ] A savings associations as defined in Section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813);
(I) [ ] A church plan that is excluded from the definition of an investment
company under section 3(c)(14) of the Investment Company Act of 1940
(15 U.S.C. 80a-3);
(J) [ ] Group, in accordance with Section 240.13d-1(b)(1)(ii)(J).
ITEM 4. OWNERSHIP.
Based on the most recent information available, the aggregate number and
percentage of the common shares (the "Shares") of Hub International Limited
("Hub") that are beneficially owned by each of the Reporting Persons is set
forth in boxes 9 and 11 of the second part of the cover page to this Schedule
13G, and such information is incorporated herein by reference.
The number of Shares as to which each of the Reporting Persons has sole voting
power, shared voting power, sole dispositive power and shared dispositive power,
is set forth in boxes 5, 6, 7 and 8, respectively, on the second part of the
cover page to this Schedule 13G, and such information is incorporated herein by
reference.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
If this statement is being filed to report the fact that as of the date hereof
the reporting person has ceased to be the beneficial owner of more than 5
percent of the class of securities, check the following [X].
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
13
Not applicable
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
Not applicable
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
See attached Exhibit No. 1.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not applicable
ITEM 10. CERTIFICATION.
Not applicable
14
SIGNATURE
After reasonable inquiry and to the best of the undersigned's
knowledge and belief, the undersigned certifies that the information set forth
in this statement is true, complete and correct.
Dated: February 14, 2008 V. Prem Watsa
/s/ V. Prem Watsa
----------------------------------------
15
SIGNATURE
After reasonable inquiry and to the best of the undersigned's
knowledge and belief, the undersigned certifies that the information set forth
in this statement is true, complete and correct.
Dated: February 14, 2008 1109519 Ontario Limited
By: /s/ V. Prem Watsa
------------------------------------
Name: V. Prem Watsa
Title: President
16
SIGNATURE
After reasonable inquiry and to the best of the undersigned's
knowledge and belief, the undersigned certifies that the information set forth
in this statement is true, complete and correct.
Dated: February 14, 2008 The Sixty Two Investment Company Limited
By: /s/ V. Prem Watsa
------------------------------------
Name: V. Prem Watsa
Title: President
17
SIGNATURE
After reasonable inquiry and to the best of the undersigned's
knowledge and belief, the undersigned certifies that the information set forth
in this statement is true, complete and correct.
Dated: February 14, 2008 810679 Ontario Limited
By: /s/ V. Prem Watsa
------------------------------------
Name: V. Prem Watsa
Title: President
18
SIGNATURE
After reasonable inquiry and to the best of the undersigned's
knowledge and belief, the undersigned certifies that the information set forth
in this statement is true, complete and correct.
Dated: February 14, 2008 Fairfax Financial Holdings Limited
By: /s/ Paul Rivett
------------------------------------
Name: Paul Rivett
Title: Vice President
19
SIGNATURE
After reasonable inquiry and to the best of the undersigned's
knowledge and belief, the undersigned certifies that the information set forth
in this statement is true, complete and correct.
Dated: February 14, 2008 Odyssey Re Holdings Corp.
By: /s/ Donald L. Smith
------------------------------------
Name: Donald L. Smith
Title: Senior Vice President
20
SIGNATURE
After reasonable inquiry and to the best of the undersigned's
knowledge and belief, the undersigned certifies that the information set forth
in this statement is true, complete and correct.
Dated: February 14, 2008 Clearwater Insurance Company
By: /s/ Donald L. Smith
------------------------------------
Name: Donald L. Smith
Title: Senior Vice President
21
SIGNATURE
After reasonable inquiry and to the best of the undersigned's
knowledge and belief, the undersigned certifies that the information set forth
in this statement is true, complete and correct.
Dated: February 14, 2008 Markel Insurance Company of Canada
By: /s/ V. Prem Watsa
------------------------------------
Name: V. Prem Watsa
Title: Director
22
SIGNATURE
After reasonable inquiry and to the best of the undersigned's
knowledge and belief, the undersigned certifies that the information set forth
in this statement is true, complete and correct.
Dated: February 14, 2008 Lombard General Insurance Company of
Canada
By: /s/ V. Prem Watsa
------------------------------------
Name: V. Prem Watsa
Title: Director
23
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
----------- -----------
1 Members of filing group.
2 Joint Filing Agreement dated as of February 14, 2008 among V. Prem
Watsa, 1109519 Ontario Limited, The Sixty Two Investment Company
Limited, 810679 Ontario Limited, Fairfax Financial Holdings
Limited, Odyssey Re Holdings Corp., Clearwater Insurance Company,
Markel Insurance Company of Canada and Lombard General Insurance
Company of Canada.
24