PXRE Group Ltd.

As of August 7, 2007, PXRE Group Ltd. was acquired by Argo Group International Holdings, Ltd. PXRE Group, Ltd., through its subsidiaries, provides reinsurance products and services worldwide. It primarily offers property catastrophe excess of loss, property pro-rata, property catastrophe retrocessional, property risk excess, and marine excess and aerospace excess reinsurance products. The company’s property catastrophe excess of loss reinsurance provides protection for catastrophic perils for insurance companies on a treaty basis and provides protection for various catastrophic losses that are covered in the underlying insurance policies written by its clients. Its property catastrophe retrocessional reinsurance includes property catastrophe coverage to other reinsurers or retrocedents. PXRE Group also provides property risk excess coverage that reinsures individual property risks of ceding companies on a treaty basis. In addition, its aerospace reinsurance includes hull, aircraft liability, aircraft products, and space coverages; and marine reinsurance includes retrocessional coverage primarily against insured market losses in the offshore energy, protection and indemnity, and pollution business segments. PXRE Group primarily serves other insurance and reinsurance companies. The company was founded in 1986 and is based in Pembroke, Bermuda.