Exhibit 10.32

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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 “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

1

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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/ Janet Kelleher

 

 

 

/s/ Edward N. Patrick Jr.

 

 

 

 

 

 

 

 

 

 

Janet Kelleher

 

 

 

Edward N. Patrick Jr.

Name

 

 

 

Name

 

 

 

 

 

 

 

 

 

 

Controller

 

 

 

VP Underwriting

Title

 

 

 

Title

 

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

ATTEST:

 

 

 

SWISS REINSURANCE AMERICA CORPORATION

 

 

 

 

 

 

 

 

 

 

/s/ Robert Weireter

 

 

 

/s/ Jeffrey W. Isaacson

 

 

 

 

 

 

 

 

 

 

Robert Weireter

 

 

 

Jeffrey W. Isaacson

Name

 

 

 

Name

 

 

 

 

 

 

 

 

 

 

Vice President
Member of Management

 

 

 

Vice President
Member of Senior Management

Title

 

 

 

Title

 

2

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