QUOTA SHARE ENDORSEMENT TO FACULTATIVE OBLIGATORY QUOTA SHARE RETROCESSIONAL AGREEMENT (hereinafter referred to as the “Reinsurance Agreement”) between PXRE REINSURANCE COMPANY (hereinafter referred to as the “Company”) and PXRE REINSURANCE LTD....

Exhibit 10.17

ANNEX V

QUOTA SHARE

ENDORSEMENT

TO

FACULTATIVE OBLIGATORY

QUOTA SHARE

RETROCESSIONAL AGREEMENT

(hereinafter referred to as the “Reinsurance Agreement”)

between

PXRE REINSURANCE COMPANY

(hereinafter referred to as the “Company”)

and

PXRE REINSURANCE LTD.

(hereinafter referred to as the “Reinsurer”)

Effective as of July 1, 2004, subject to the approval of the Insurance Department of the State of Connecticut, it is understood and agreed that with respect to risks assumed on all Contracts written by the Company on or after July 1, 2004 that cessions to the Reinsurance Agreement shall no longer be subject to per reinsurance program sub-limits.

Signed in Hamilton, Bermuda, as of July 1, 2004.

	PXRE REINSURANCE LTD.
	By	/s/ XXX XXXXXXXXXXX
	Name:	Xxx X. Xxxxxxxxxxx
	Title:	President
	PXRE REINSURANCE COMPANY
	By	/s/ XXXXXXX X. XXXXX
	Name:	Xxxxxxx X. Xxxxx
	Title:	CEO