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                                                                    EXHIBIT 10.1

                      SECOND AMENDMENT TO CREDIT AGREEMENT


        THIS SECOND AMENDMENT TO CREDIT AGREEMENT (this "Second Amendment"), is
made on this 8th day of September, 2005, by and between MEADOWBROOK INSURANCE
GROUP, INC. (the "Company"), and STANDARD FEDERAL BANK NATIONAL ASSOCIATION (the
"Lender"), and is based upon the following:

                                    Recitals

         A. Company executed and delivered to Lender a certain Revolving Note
(the "Promissory Note"), a certain Credit Agreement (the "Credit Agreement") and
other related documents (together with the Promissory Note and the Credit
Agreement, collectively, the "Loan Documents"), each dated as of November 12,
2004, evidencing, securing or relating to a certain revolving loan from Lender
to Company in an amount not to exceed Twenty-Five Million and 00/100 Dollars
($25,000,000.00) (the "Loan").

         B. On or about May 20, 2005, Company executed and delivered to Lender a
certain Amendment to Credit Agreement (the "First Amendment"), modifying the
financial covenants applicable to the Loan.

         C. Company and Lender desire to amend the terms of the Loan Documents,
as more particularly provided herein.

         D. Capitalized terms not otherwise defined herein shall have the
meanings ascribed to them in the Loan Documents.

                                   Agreement

         Now, therefore, for good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged by each of Lender and Company and
further, in consideration of the mutual covenants, promises, and agreements and
subject to the terms, provisions, and conditions contained herein, the parties
hereto hereby agree as follows:

         1. Credit Agreement.

                  (a) The following subsection is hereby added to Section 11.1
         of the Credit Agreement:

                           (k) issuance of up to Twenty Million and 00/100
                  Dollars ($20,000,000.00) of trust preferred securities of a
                  trust to be formed by Company in accordance with the terms and
                  conditions described in a certain letter dated May 13, 2005,
                  from Cohen Bros. & Company, and accepted and agreed by Company
                  on May 19, 2005.

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                  (b) The following subsection is hereby added to Section 11.11
         of the Credit Agreement:

                           (i) a capital investment of up to Six Million and
                  00/100 Dollars ($6,000,000.00) in Renaissance Insurance Group,
                  a holding company for Renaissance Alliance Insurance Services,
                  LLC, Renaissance Insurance Agency, Inc., Renaissance Alliance
                  Financial Services, LLC and Cochrane & Porter Agency, Inc.;
                  and

                           (ii) a capital purchase of the business of Hayes
                  Enterprises, Inc., d/b/a Insurance Benefit Consultants, for no
                  more than Four Million Two Hundred Thousand and 00/100 Dollars
                  ($4,200,000.00).

         2. Loan Documents.

                  (a) Except as specifically modified or amended by the First
         Amendment or this Second Amendment, the Loan Documents, and all of the
         terms, covenants, conditions, and provisions thereof, are hereby
         ratified and confirmed in their entirety and shall remain in full force
         and effect.

                  (b) The Loan Documents are hereby ratified and affirmed by
         Company and shall remain in full force and effect as modified herein.
         Any property or rights to or interests in property granted as security
         in the Loan Documents shall remain as security for the Loan and the
         obligations of Company in the Loan Documents.

         3. Company's Representations and Warranties.

                  (a) No default, event of default or event of acceleration
         under any of the Loan Documents, as modified herein, nor any event,
         that, with the giving of notice or the passage of time or both, would
         be a default, an event of default or event of acceleration under the
         Loan Documents, as modified herein, has occurred and is continuing.

                  (b) There has been no material adverse change in the financial
         condition of Company or any other person whose financial statement has
         been delivered to Lender in connection with the Loan from the most
         recent financial statements received by Lender.

                  (c) Each and all representations and warranties of Company in
         the Loan Documents are accurate on the date hereof, continue to be
         satisfied in all respects and are valid and binding obligations with
         the same force and effect as if entirely restated in this Second
         Amendment.

                  (d) Company has no claims, counterclaims, defenses or set-offs
         with respect to the Loan or the Loan Documents, as modified herein.

                  (e) The Loan Documents, as modified herein, are the legal,
         valid and binding obligations of Company, enforceable against Company
         in accordance with their terms.


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         5. Company's Covenants. Company covenants with Lender:

                  (a) Company shall execute, deliver and provide to Lender such
         additional agreements, documents and instruments as are reasonably
         required by Lender to effectuate the intent of this Second Amendment.

                  (b) Contemporaneously with the execution and delivery of this
         Second Amendment, Company has paid to Lender:

                           (i) All accrued and unpaid interest under the
                  Promissory Note and all amounts, other than interest and
                  principal, due and payable by Company under the Loan Documents
                  as of the date hereof.

                           (ii) All the external costs and expenses incurred by
                  Lender in connection with this Second Amendment (including,
                  without limitation, outside attorneys and appraisal, appraisal
                  review, processing, title, filing and recording costs,
                  expenses and fees).

         6. Miscellaneous.

                  (a) Lender shall not be bound by this Second Amendment until
         (i) Lender has executed and delivered this Second Amendment, and (ii)
         Company has performed all of the obligations of Company under this
         Second Amendment to be performed contemporaneously with the execution
         and delivery of this Second Amendment.

                  (b) This Second Amendment shall be binding upon and shall
         inure to the benefit of the parties hereto and their respective
         representatives, successors, and assigns; provided, however, that
         Company may not assign any of its rights or delegate any of its
         obligations under the Loan Documents and any purported assignment or
         delegation shall be void.

                  (c) The invalidity or unenforceability of a particular
         provision of this Second Amendment shall not affect the other
         provisions hereof, and this Second Amendment shall be construed in all
         respects as if such invalid or unenforceable provision were omitted.

                  (d) The Loan Documents, as modified herein, contain the
         complete understanding and agreement of Company and Lender in respect
         of the Loan and supersede all prior representations, warranties,
         agreements, arrangements, understandings and negotiations. No provision
         of the Loan Documents, as modified herein, may be changed, discharged,
         supplemented, terminated or waived except in a writing signed by the
         parties thereto.

                  (e) This Second Amendment shall be governed by and construed
         in accordance with the laws of the State of Michigan, without giving
         effect to conflicts of law principles that would require the
         application of the laws of another state.

                  (f) This Second Amendment shall be deemed controlling in the
         event of any inconsistency, ambiguity or conflict between the terms of
         this Second Amendment and the terms contained in the Promissory Note,
         the Credit Agreement and the Loan Documents.

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                  (g) This Second Amendment may be executed in one or more
         counterparts, each of which shall be deemed an original and all of
         which together shall constitute one and the same document. Signature
         pages may be detached from the counterparts and attached to a single
         copy of this Second Amendment to physically form one document.








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        The undersigned have executed this Second Amendment on the date first
above written.



                                       COMPANY:

                                       MEADOWBROOK INSURANCE GROUP, INC.

                                       By: /s/ Michael G. Costello
                                          --------------------------------------
                                          Michael G. Costello
                                          --------------------------------------
                                       Its: Sr. Vice President & General Counsel
                                          --------------------------------------


                                       LENDER:

                                       STANDARD FEDERAL BANK
                                       NATIONAL ASSOCIATION

                                       By: /s/ Laura M. Kalil
                                          --------------------------------------
                                          Laura M. Kalil
                                          --------------------------------------
                                       Its: First Vice President
                                          --------------------------------------


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