ADDENDUM NO 1 to the CASUALTY EXCESS OF LOSS REINSURANCE AGREEMENT NO. POR327454 (hereinafter referred to as the “Agreement”) between SAFETY INSURANCE COMPANY SAFETY INDEMNITY INSURANCE COMPANY Boston, Massachusetts (hereinafter referred to as the...

Exhibit 10.32

ADDENDUM NO 1

to the

CASUALTY EXCESS OF LOSS
REINSURANCE AGREEMENT
NO. XXX000000
(hereinafter referred to as the “Agreement”)

between

SAFETY INSURANCE COMPANY
SAFETY INDEMNITY INSURANCE COMPANY
Boston, Massachusetts
(hereinafter referred to as the “Company”)

and

SWISS REINSURANCE AMERICA CORPORATION
Armonk, New York
(hereinafter referred to as the “Reinsurer”)

It is understood and agreed that effective as of inception, January 1, 2006, Article XII - Contingent Commission is hereby deleted from this Agreement.

ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED

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IN WITNESS WHEREOF, the parties hereto have caused this Addendum to be executed in duplicate, by their duly authorized representatives as of the following dates:

In Boston this 2nd day of December 2006.

ATTEST:				SAFETY INSURANCE COMPANY SAFETY INDEMNITY INSURANCE COMPANY
/s/ Xxxxx Xxxxxxxx				/s/ Xxxxxx X. Xxxxxxx Xx.
Xxxxx Xxxxxxxx				Xxxxxx X. Xxxxxxx Xx.
Name				Name
Controller				VP Underwriting
Title				Title

And in Armonk, New York, this 19th day of December, 2006.

ATTEST:				SWISS REINSURANCE AMERICA CORPORATION
/s/ Xxxxxx Xxxxxxxx				/s/ Xxxxxxx X. Xxxxxxxx
Xxxxxx Xxxxxxxx				Xxxxxxx X. Xxxxxxxx
Name				Name
Vice President Member of Management				Vice President Member of Senior Management
Title				Title

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