-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, IADRwCDoKijtSYZry+2lzuQ41ex7tiLGuvtIdbBQkZrJrAEESK/npcp9mpnkAZPC ClY0o4ZeRDO/kmvMFD+3zQ== 0000950152-98-000815.txt : 19980210 0000950152-98-000815.hdr.sgml : 19980210 ACCESSION NUMBER: 0000950152-98-000815 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980209 SROS: NONE GROUP MEMBERS: 810679 ONTARIO LTD. GROUP MEMBERS: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN GROUP MEMBERS: HAMBLIN WATSA INVESTMENT COUNSEL LTD. GROUP MEMBERS: THE SIXTY TWO INVESTMENT COMPANY LIMITED GROUP MEMBERS: V. PREM WATSA SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BALDWIN & LYONS INC CENTRAL INDEX KEY: 0000009346 STANDARD INDUSTRIAL CLASSIFICATION: INSURANCE AGENTS BROKERS & SERVICES [6411] IRS NUMBER: 350160330 STATE OF INCORPORATION: IN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: SEC FILE NUMBER: 005-07562 FILM NUMBER: 98525206 BUSINESS ADDRESS: STREET 1: 1099 N MERIDIAN ST STREET 2: STE 700 CITY: INDIANAPOLIS STATE: IN ZIP: 46204 BUSINESS PHONE: 3176369800 MAIL ADDRESS: STREET 1: 1099 NORTH MERIDIAN ST STREET 2: STE 700 CITY: INDIANAPOLIS STATE: IN ZIP: 46204 FORMER COMPANY: FORMER CONFORMED NAME: BALDWIN H C AGENCY INC DATE OF NAME CHANGE: 19720309 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN CENTRAL INDEX KEY: 0000915191 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] STATE OF INCORPORATION: A6 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 95 WELLINGTON ST WEST STREET 2: STE 800 CITY: TORONTO ONTARIO CANA STATE: A6 BUSINESS PHONE: 4163674941 MAIL ADDRESS: STREET 1: FAIRFAX FINANCIAL HOLDINGS LTD STREET 2: 95 WELLINGTON ST WEST STE 800 CITY: TORONTO ONTARIO CANA STATE: A6 FORMER COMPANY: FORMER CONFORMED NAME: FAIRFAX FINANCIAL HOLDINGS LTD DATE OF NAME CHANGE: 19931122 SC 13G/A 1 BALDWIN & LYONS/FAIRFAX FINANCIAL SC 13G/AMEND. 1 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 1)* Baldwin & Lyons Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Class B Common - -------------------------------------------------------------------------------- (Title of Class of Securities) 057755209 - -------------------------------------------------------------------------------- (CUSIP Number) *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. 2 CUSIP NO. 057755209 ------------ - ------------------------------------------------------------------------------- 1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of Above Persons V. Prem Watsa --------------------------------------------------------------------- (No S.S. or I.R.S. Identification Nos.) - ------------------------------------------------------------------------------- 2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) X - ------------------------------------------------------------------------------- 3) SEC Use Only - ------------------------------------------------------------------------------- 4) Citizenship or Place of Organization Canada - ------------------------------------------------------------------------------- Number of Shares (5) Sole Voting Power -0- Beneficially Owned ----------------------------------------------------- by Each Reporting (6) Shared Voting Power 775,900 Person With ---------------------------------------------------- (7) Sole Dispositive Power -0- ----------------------------------------------------- (8) Shared Dispositive Power 775,900 - ------------------------------------------------------------------------------- 9) Aggregate Amount Beneficially Owned by Each Reporting Person 775,900 - ------------------------------------------------------------------------------- 10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) - ------------------------------------------------------------------------------- 11) Percent of Class Represented by Amount in Row 9 6.9% - ------------------------------------------------------------------------------- 12) Type of Reporting Person (See Instructions) IN (Canadian) - ------------------------------------------------------------------------------- 2(1) 3 CUSIP NO. 057755209 ---------------- 1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of Above Persons The Sixty Two Investment Company Limited ---------------------------------------------------------------------- (No S.S. or I.R.S. Identification Nos.) - -------------------------------------------------------------------------------- 2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) X - -------------------------------------------------------------------------------- 3) SEC Use Only - -------------------------------------------------------------------------------- 4) Citizenship or Place of Organization British Columbia, Canada - -------------------------------------------------------------------------------- Number of Shares (5) Sole Voting Power -0- Beneficially Owned ----------------------------------------------------- by Each Reporting (6) Shared Voting Power 775,900 Person With ----------------------------------------------------- (7) Sole Dispositive Power -0- ----------------------------------------------------- (8) Shared Dispositive Power 775,900 - -------------------------------------------------------------------------------- 9) Aggregate Amount Beneficially Owned by Each Reporting Person 775,900 - -------------------------------------------------------------------------------- 10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) - -------------------------------------------------------------------------------- 11) Percent of Class Represented by Amount in Row 9 6.9% - -------------------------------------------------------------------------------- 12) Type of Reporting Person (See Instructions) CO (Canadian) - -------------------------------------------------------------------------------- 2(2) 4 CUSIP NO. 057755209 ------------ 1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of Above Persons 810679 Ontario Ltd. - -------------------------------------------------------------------------------- (No S.S. or I.R.S. Identification Nos.) 2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) X - -------------------------------------------------------------------------------- 3) SEC Use Only - -------------------------------------------------------------------------------- 4) Citizenship or Place of Organization Ontario, Canada - -------------------------------------------------------------------------------- Number of Shares (5) Sole Voting Power -0- Beneficially Owned --------------------------------------------------------- by Each Reporting (6) Shared Voting Power 775,900 Person With --------------------------------------------------------- (7) Sole Dispositive Power -0- --------------------------------------------------------- (8) Shared Dispositive Power 775,900 - -------------------------------------------------------------------------------- 9) Aggregate Amount Beneficially Owned by Each Reporting Person 775,900 - -------------------------------------------------------------------------------- 10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) - -------------------------------------------------------------------------------- 11) Percent of Class Represented by Amount in Row 9 6.9% - -------------------------------------------------------------------------------- 12) Type of Reporting Person (See Instructions) CO (Canadian) - -------------------------------------------------------------------------------- 2(3) 5 CUSIP NO. 057755209 -------------- 1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of Above Persons Fairfax Financial Holdings Limited ---------------------------------------------------------------------- (No S.S. or I.R.S. Identification Nos.) 2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) X - -------------------------------------------------------------------------------- 3) SEC Use Only - -------------------------------------------------------------------------------- 4) Citizenship or Place of Organization Canada - -------------------------------------------------------------------------------- Number of Shares (5) Sole Voting Power -0- Beneficially Owned --------------------------------------------------- by Each Reporting (6) Shared Voting Power 775,900 Person With --------------------------------------------------- (7) Sole Dispositive Power -0- --------------------------------------------------- (8) Shared Dispositive Power 775,900 - -------------------------------------------------------------------------------- 9) Aggregate Amount Beneficially Owned by Each Reporting Person 775,900 - -------------------------------------------------------------------------------- 10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) - -------------------------------------------------------------------------------- 11) Percent of Class Represented by Amount in Row 9 6.9% - -------------------------------------------------------------------------------- 12) Type of Reporting Person (See Instructions) HC (Canadian) - -------------------------------------------------------------------------------- 2(4) 6 CUSIP NO. 057755209 -------------- 1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of Above Persons Hamblin Watsa Investment Counsel Ltd. --------------------------------------------------------------------- (No S.S. or I.R.S. Identification Nos.) - -------------------------------------------------------------------------------- 2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) X - -------------------------------------------------------------------------------- 3) SEC Use Only - -------------------------------------------------------------------------------- 4) Citizenship or Place of Organization Canada - -------------------------------------------------------------------------------- Number of Shares (5) Sole Voting Power -0- Beneficially Owned ----------------------------------------------------- by Each Reporting (6) Shared Voting Power 775,900 Person With ----------------------------------------------------- (7) Sole Dispositive Power -0- ----------------------------------------------------- (8) Shared Dispositive Power 775,900 - -------------------------------------------------------------------------------- 9) Aggregate Amount Beneficially Owned by Each Reporting Person 775,900 - -------------------------------------------------------------------------------- 10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) - -------------------------------------------------------------------------------- 11) Percent of Class Represented by Amount in Row 9 6.9% - -------------------------------------------------------------------------------- 12) Type of Reporting Person (See Instructions) CO and IA (Canadian) - -------------------------------------------------------------------------------- 2(5) 7 ITEM 1(a) Name of Issuer: Baldwin & Lyons Inc. ---------------------------------------------------------------- ITEM 1(b) Address of Issuer's Principal Executive Offices: 1099 North Meridian Street, ------------------------------- Indianapolis, Indiana 46204 - ------------------------------------------------------------------------------- ITEM 2(a) Names of Persons Filing: V. Prem Watsa, The Sixty Two Investment Company ------------------------------------------------------- Limited, 810679 Ontario Ltd., Fairfax Financial Holdings Limited and Hamblin - ------------------------------------------------------------------------------- Watsa Investment Counsel Ltd. (See Note 1 below) - ------------------------------------------------------------------------------- ITEM 2(b) Address of Principal Business Office or, if none, Residence: 95 Wellington Street West, Suite 802, Toronto, Ontario, Canada M5J 2N7 - -------------------------------------------------------------------------------- ITEM 2(c) Citizenship: Canada ------------------------------------------------------------------- ITEM 2(d) Title of Class of Securities: Class B Common -------------------------------------------------- ITEM 2(e) CUSIP Number: 057755209 ------------------------------------------------------------------ ITEM 3 If this statement is filed pursuant to Rule 13d-1(b), check whether the person filing is a: (a) [ ] Broker or Dealer registered under Section 15 of the Act (b) [ ] Bank as defined in Section 3(a)(6) of the Act (c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act (d) [ ] Investment Company registered under Section 8 of the Investment Company Act - ----------------------------- Note 1: Mr. Watsa, The Sixty Two Investment Company Limited, 810679 Ontario Ltd. and Hamblin Watsa Investment Counsel Ltd. are filing this Schedule 13G pursuant to a no-action letter dated June 8, 1994 from the Commission to Fairfax Financial Holdings Limited. 3 8 (e) [ ] Investmnent Adviser registered under Section 203 of the Investment Advisers Act of 1940 (f) [ ] Employee Benefit Plan, Pension Fund which is subject to the provisions of the Employee Retirement Income Security Act of 1974 or Endowment Fund; see Section 240.13d-1(b)(1)(ii)(F) (g) [X] Parent Holding Company, in accordance with Section 240.13d-1(b)(ii)(G) (See Note 2 below) (h) [ ] Group, in accordance with Section 240.13d-1(b)(1)(ii)(H) ITEM 4 Ownership. - ---------- If the percent of the class owned, as of December 31 of the year covered by the statement, or as of the last day of any month described in Rule 13d-1(b)(2), if applicable, exceeds five percent, provide the following information as of that date and identify those shares which there is a right to acquire. (a) Amount Beneficially Owned: 775,900 ---------------------------------------------------------------------- (b) Percent of Class: 6.9% ---------------------------------------------------------------------- (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote -0- (ii) shared power to vote or to direct the vote 775,900 (iii) sole power to dispose or to direct the disposition -0- (iv) shared power to dispose or to direct the disposition of 775,900 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 five percent of the class of securities, check the following [ ]. - ------------------------------- Note 2: The filing of this Schedule 13G and the statements therein shall not be construed as an admission that Mr. Watsa, The Sixty Two Investment Company Limited, 810679 Ontario Ltd. or Fairfax Financial Holdings Limited are for the purposes of Sections 13(d) or 13(g) of the Securities Exchange Act of 1934 the beneficial owners of the Issuer's Common Stock or have any pecuniary interest therein. 4 9 ITEM 6 Ownership of More than Five Percent on Behalf of Another Person. - ---------------------------------------------------------------- Not applicable. ITEM 7 Identification Classification of Subsidiary Which Acquired the Security Being - ------------------------------------------------------------------------------ Reported on By the Parent Holding Company. - ------------------------------------------ Mr. Watsa, directly, and indirectly through The Sixty Two Investment Company Limited and 810679 Ontario Ltd., owns the controlling equity voting interest of Fairfax Financial Holdings Limited ("Fairfax"). Fairfax is filing this Schedule 13G on behalf of three of Fairfax's subsidiary corporations, (1) Odyssey America Reinsurance Corporation ("Odyssey") which owns 524,000 of the Class B Common shares of the Issuer, (2) Sphere Drake Holdings Limited ("Sphere Drake") which owns 251,900 of the Class B Common shares of the Issuer, and (3) Hamblin Watsa Investment Counsel Ltd., a Canadian investment adviser ("Hamblin"). Hamblin, through its investment advisory agreements with Odyssey and Sphere Drake, shares the power to vote, and the power to dispose of, 775,900 Class B Common shares of the Issuer. Exhibit A attached hereto states the identity and Item 3 classification of Odyssey Sphere Drake and Hamblin. ITEM 8 Identification and Classification of Members of the Group. - ---------------------------------------------------------- Not applicable. ITEM 9 Notice of Dissolution of Group. - ------------------------------- Not applicable. ITEM 10 Certification - ------------- By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired in the ordinary course of business and were not acquired for the purpose of and do not have the effect of changing or influencing the control of the issuer of such securities and were not acquired in connection with or as a participant in any transaction having such purposes or effect. 5 10 After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 5, 1998 /s/ V. Prem Watsa ------------------------------------------ Signature V. Prem Watsa ------------------------------------------ Name THE SIXTY TWO INVESTMENT COMPANY LIMITED By: /s/ V. Prem Watsa ------------------------------------------ Signature V. Prem Watsa, President ------------------------------------------ Name / Title 810679 ONTARIO LTD. By: /s/ V. Prem Watsa ------------------------------------------ Signature V. Prem Watsa, President ------------------------------------------ Name / Title FAIRFAX FINANCIAL HOLDINGS LIMITED By: /s/ Eric P. Salsberg ------------------------------------------ Signature Eric P. Salsberg, V.P. Corporate Affairs ------------------------------------------ Name / Title HAMBLIN WATSA INVESTMENT COUNSEL LTD. By: /s/ A.F. Hamblin ------------------------------------------ Signature A.F. Hamblin, President ------------------------------------------ Name / Title 6 11 EXHIBIT A TO SCHEDULE 13G FILED BY FAIRFAX FINANCIAL HOLDINGS LIMITED AND OTHERS Relevant Subsidiary Item 3 Classification - ------------------- --------------------- Sphere Drake Holdings Limited (c) Insurance Company Odyssey American Reinsurance Corporation (c) Insurance Company Hamblin Watsa Investment Counsel Ltd. (e) Investment Advisor 7 -----END PRIVACY-ENHANCED MESSAGE-----