Exhibit 2 REORGANIZATION AGREEMENT This Reorganization Agreement is entered into as of December 7, 2005 (this "Agreement") by and among: (i) CRM Holdings, Ltd., a Bermuda company ("CRM Holdings"); (ii) Compensation Risk Managers, LLC, a limited...Reorganization Agreement • January 6th, 2006 • CRM Holdings, Ltd. • Services-management services • New York
December 7, 2005 Sandler O'Neill & Partners L.P. As representative of the several Underwriters Listed in Schedule I to the Underwriting Agreement referenced below 919 Third Avenue 6th Floor New York, New York 10022 Ladies and Gentlemen: The...CRM Holdings, Ltd. • January 6th, 2006 • Services-management services • New York
