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                                                                    EXHIBIT 10.8

                              AMENDED AND RESTATED
                        ADMINISTRATIVE SERVICES AGREEMENT

      THIS AMENDED AND RESTATED ADMINISTRATIVE SERVICES AGREEMENT (the
"Agreement") is made as of the 1st day of January, 2006 among (1) Newmarket
Underwriters Insurance Company, a corporation organized under the laws of New
Hampshire, ("NUIC"), (2) Allied World Assurance Company (U.S.) Inc., a
corporation organized under the laws of Delaware ("AWAC US" and together with
NUIC, the "Companies"), and (3) Lexington Insurance Company, a corporation
organized under the laws of Delaware ("LEXINGTON").

                               W I T N E S S E T H

      WHEREAS, each of the parties hereto entered into that certain
Administrative Services Agreement, dated as of July 15, 2002 (as amended,
modified and supplemented, the "Original Services Agreement"), pursuant to which
Lexington agreed to (or cause its affiliates to) furnish the Companies with
certain office space, equipment, administrative services and personnel.

      WHEREAS, the parties desire to amend and restate the Original Services
Agreement, subject to the terms and conditions hereinafter provided.

      NOW, THEREFORE, it is agreed as follows:

1.    Services to be provided

1.1   LEXINGTON shall furnish or cause to be furnished (in accordance with the
      performance standards set forth in this Agreement) services and facilities
      to the Companies required by the Companies in the ordinary course of the
      business of the Companies which are denominated and classified as follows:

(a)   office space at 100 Summer Street, Boston, Massachusetts at cost, which
      space may be owned by LEXINGTON or one of its affiliates or may be leased
      from others, and which shall include as a part thereof cleaning, elevator
      service, repair and engineering services and warehouse and central files
      facilities;

(b)   Policy services: LEXINGTON shall bill, receive and render receipts for
      premiums due to the Companies in accordance with the terms and conditions
      of each policy of insurance issued and in accordance with the written
      instructions of the Companies. LEXINGTON shall have full authority
      hereunder to take whatever action it deems necessary or appropriate to
      attempt to collect premiums, including, if so instructed by the Companies,
      the cancellation of policies. LEXINGTON shall have no liability for
      uncollected premiums. All premiums due to the Companies and received and
      held by LEXINGTON shall be held in a fiduciary capacity.

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(c)   Financial, financial reporting and financial management services:
      LEXINGTON shall:

      (i)   prepare comprehensive quarterly financial statements including, but
            not limited to, profit and loss statements, balance sheets and cash
            flow statements; in addition, prepare monthly management reports
            including statistical reports and information (including information
            on outstanding loss reserves, reserves for IBNR losses and expenses)
            with respect to the Companies and the Companies's business as may be
            required by law or requested by the Companies;

      (ii)  establish, implement and manage systems for the Companies' treasury
            functions and the production of historical financial statements;

      (iii) maintain the general ledger for the Companies, including the
            movement of cash in and out of the bank accounts and/or the movement
            of securities in unregistered form;

      (iv)  prepare and file all required premium tax and federal excise tax
            reports and returns relating to the Companies's business; and

      (v)   perform bookkeeping and internal financial record keeping services
            related to the recording of accounts receivable, accounts payable,
            payroll costs, etc.

(d)   Lexington shall provide the following services to the Companies with
      respect to regulatory compliance and filings: the preparation of accounts
      and filing of statutory insurance financial statements (including
      investment accounting services) as well as any services (other than legal
      services) relating to examinations by state insurance authorities of the
      Books and Records (as defined in Section 5.2 of this Agreement) of the
      Companies. Lexington shall separately account for and bill for these
      services to the Companies.

(e)   LEXINGTON shall, during the period beginning on the date hereof and ending
      on March 31, 2006, prepare filings to maintain the Companies' authorized
      status with state insurance departments, although in no event shall
      LEXINGTON provide legal review of any such filings.

(f)   perform tax and accounting services, other than as contemplated in this
      Section 1.1, as may be requested by either of the Companies from time to
      time, except to the extent that such services are provided by independent
      parties (e.g., Deloitte and Touche) (which third party services shall be
      billed directly to and be remunerated by the Companies).

(g)   Information Technology: Electronic data processing which shall include all
      necessary hardware and generic software to the same specification as
      provided to LEXINGTON employees. This shall include administration,
      maintenance and licensing costs, helpdesk support, electronic mail and
      operational management.

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(h)   making withdrawals from time to time in accordance with written
      authorization procedures established by the Companies from any bank
      account or accounts established by the Companies in order to pay in a
      timely manner, the necessary, reasonable and proper expenses of the
      Companies (it being understood that any interest that accrues on funds in
      such account or accounts shall be the sole property of the Companies).
      Such expenses shall include: (i) claim payments under insurance and
      reinsurance contracts entered into by the Companies; (ii) management fees
      to be paid pursuant to Section 2 hereof; (iii) banking service fees; (iv)
      fees of the firm of auditors or chartered accountants of the Companies;
      (v) fees and taxes to appropriate regulatory authorities; (vi)
      compensation and expenses of directors and salaries of officers of the
      Companies as shall have been approved by the Board of Directors of the
      Companies; (vii) communication costs; (viii) travel and entertainment
      costs incurred by officers of the Companies; (ix) payments to be made
      under the Investment Management Agreement, dated as of the date hereof,
      between the Companies and Goldman Sachs Asset Management International,
      provided that the making of such payments shall have first been approved
      by the Board of Directors of the Companies or an Officer of the Company
      authorized thereby; and (x) other necessary expenses incurred in the
      ordinary course of business, as may be approved periodically by the
      Companies;

(i)   depositing all premiums and other sums collected or received on the
      Companies' behalf by LEXINGTON directly and immediately in an account or
      accounts established by the Companies, in the Companies' name and for the
      Companies' benefit, it being understood that in no event and for no period
      of time may any such premiums or other sums be deposited in an account in
      the name or for the benefit of any person or entity other than the
      Companies;

(j)   coordinating and cooperating with representatives, including auditors, of
      the Companies, providing such access to the Companies' Books and Records
      and personnel as may be reasonably necessary or desirable for the Company
      to monitor its investment in the Companies, evaluate the risks, systems
      and business of the Companies and develop the capability of employees of
      the Companies to carry out such functions;

(k)   undertaking the negotiation of all trust agreements, letters of credit and
      other arrangements needed for the collateralization of assumed reinsurance
      contracts and the analysis as to the use of trust or other type of vehicle
      which may be appropriate in the circumstances, which agreements, letters
      of credit and other arrangements will be subject to the final approval of,
      and execution by, the Companies;

(l)   a purchasing department, provided that to the extent purchases are made by
      LEXINGTON on behalf of the Companies, the actual cost of purchases, which
      shall not exceed the cost at which purchases are available generally from
      unaffiliated third parties, shall be billed to the applicable Company;

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(m)   telephone and telephone switchboard services (provided that the actual
      cost of telephone calls (but no expense allocated or otherwise of
      switchboard services), which shall not exceed the cost at which such calls
      are available generally from an unaffiliated third party, shall
      additionally be billed to the Companies);

(n)   a mail and communications department, including, without limitation, cable
      and teletype, messenger, mail handling and postage services (provided that
      the actual cost of any third party mail carriers shall additionally be
      billed to the Company);

(o)   claims handling services as permitted by law with respect to any loss
      claim or suit under any NUIC or AWAC US policy which is reported during
      the effective dates of this Agreement; and

(p)   investment monitoring services in respect of certain portfolios (of cash,
      securities and other assets) of the Companies, including quarterly reviews
      of portfolios for compliance with investment restrictions imposed by state
      insurance laws.

Without prejudice to the rights of LEXINGTON under this Agreement (including
under Section 2.1 hereof), the Companies shall not be required to obtain any
services, including those described above, from LEXINGTON or be prohibited from
obtaining such services from parties other than LEXINGTON.

Any other services or departments found to be necessary or desirable by either
of the Companies shall be provided by LEXINGTON only after separate negotiation
and agreement by all of the parties hereto. The additional costs of any such
other services or departments shall be allocated in an equitable manner to be
agreed upon by the parties hereto.

Each of the parties shall use its reasonable best efforts to reach agreement
upon any adjustments to the scope of services provided hereunder, and
corresponding adjustments to the fees to be paid hereunder, as may reasonably be
required after the date hereof (for example, to the extent that it is mutually
agreed that services contemplated to be performed by LEXINGTON under this
Agreement should be performed by employees or other agents of the Companies or
to the extent that it is mutually agreed that LEXINGTON should assume additional
responsibilities hereunder).

1.2   LEXINGTON hereby represents and warrants to the Companies that any
      software licensed or otherwise provided to the Companies hereunder by
      LEXINGTON shall not infringe upon any copyrights of any other person in
      any jurisdiction where a claim against either of the Companies would arise
      as a result of the use of such software by the Companies. With respect to
      any computer software provided to either of the Companies pursuant to
      Section 1.1 hereof (other than business processing software developed for
      the Companies), each of the Companies acknowledges that it hereby accepts
      from LEXINGTON the non-exclusive, non-transferable, non-assignable right
      to use such software solely and exclusively in connection with its
      insurance operations, all in accordance with the further terms and
      conditions of this Agreement. Any and all copyrights, or

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      common law or statutory rights and powers, relating to any such computer
      software (or any operating manuals relating thereto) shall be and remain
      at all times the sole and exclusive property of LEXINGTON, and the right
      of the Companies to use such computer software shall be solely as a
      licensee of LEXINGTON pursuant hereto. Such computer software may not be
      copied, duplicated or otherwise reproduced, in whole or in part, without
      the prior written consent of LEXINGTON, and nothing therefrom may be
      disclosed to any person other than those to whom such disclosure is
      authorized by LEXINGTON. Such computer software shall be returned to
      LEXINGTON upon termination of this Agreement and, in any event, upon
      completion of the use for which they are hereby provided.

1.3   With respect to any equipment, furniture or other furnishings or fixtures,
      including, without limitation, personal computers, printers, photocopiers,
      facsimile machines and application servers (collectively, "Equipment")
      provided to either of the Companies pursuant to Section 1.1 hereof, each
      of the Companies acknowledges that such Equipment is, and at all times
      during the term of this Agreement and thereafter shall remain, the
      property of LEXINGTON and neither of the Companies shall have any right,
      title or interest therein or thereto except as provided herein. Upon
      LEXINGTON's reasonable request, the Companies shall affix and keep in a
      prominent place on each item of Equipment labels, plates or other markings
      indicating that the Equipment is owned by LEXINGTON. The Companies shall
      not make any modifications, alterations, additions or improvements to the
      Equipment without LEXINGTON's prior written consent. All such additions
      and improvements shall belong to LEXINGTON. The Equipment shall remain
      personal property of LEXINGTON regardless of its affixation to any realty.
      The Companies shall keep the Equipment at the office space provided to the
      Companies by LEXINGTON pursuant to Section 1.1 hereof and, unless
      otherwise agreed to by LEXINGTON in writing, shall not remove any of the
      same therefrom without LEXINGTON's prior written consent. The Companies
      covenant and agree to (a) keep the Equipment in good repair, ordinary wear
      and tear excepted, and comply with all laws, ordinances, regulations or
      requirements of any governmental authority relating to its installation,
      possession, use or maintenance and (b) keep the Equipment free and clear
      of all liens and encumbrances.

1.4.  During the term of this Agreement, LEXINGTON shall perform all of its
      obligations under this Agreement: (a) to the best of its professional
      ability; and (b) with that degree of knowledge, skill and judgment which
      is exercised by it with respect to its own business and the business of
      its parent and insurance and reinsurance affiliates.

1.5   LEXINGTON shall comply with all applicable laws, rules and regulations in
      respect of all activities conducted by it under this Agreement.

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1.6   LEXINGTON shall be subject to the ultimate direction, limitation,
      approval, control and supervision of the Companies and their respective
      Boards of Directors with respect to the services provided hereunder.

2.    Payment and Reimbursement of Service Fees and Costs

2.1   As remuneration for the services provided under this Agreement, the
      Companies shall (in addition to the reimbursement of any costs described
      herein) pay to LEXINGTON a fee constituting the actual direct and indirect
      costs involved in providing the services detailed in the agreement
      invoiced on a monthly basis, plus 10% over and above the invoiced costs as
      a profit.

2.2   In the event of any termination (including by expiration) of this
      Agreement, LEXINGTON shall provide the Companies with an accounting of all
      fees and reimbursable costs within thirty (30) days following the
      effective date of such termination, and the Companies or LEXINGTON shall
      upon agreement of such accounting pay to the other any further payments or
      refunds such accounting shows as owing at termination within thirty (30)
      days following receipt of such accounting.

2.3   In addition to monthly invoices for fees, LEXINGTON shall issue, each
      month, a separate invoice for any costs permitted to be billed separately
      pursuant to Section 1.1 hereof during the immediately prior month. The
      Companies shall pay the amount of or otherwise reimburse LEXINGTON for any
      such costs promptly upon receipt of any such invoice therefore.

2.4   For the avoidance of doubt, the parties hereto acknowledge and agree that
      any and all payments due for services provided on or prior to the date
      hereof pursuant to the Original Services Agreement will be paid in
      accordance with the terms thereof, and any such payment obligations are
      not limited or otherwise affected in any way by this Agreement.

3.    Term and Termination of Agreement

3.1   The initial term of this Agreement shall commence effective as of January
      1, 2006 and shall continue in force until December 31, 2006; provided,
      however, that any party hereto may terminate this Agreement at any time,
      for any reason, upon 90 days' prior written notice of termination to the
      other parties hereto. Notwithstanding the foregoing, each of AWAC US and
      NUIC may terminate this Agreement at any time for Company Cause (as
      defined in Section 3.2(a) of this Agreement) and LEXINGTON may terminate
      this Agreement at any time for Lexington Cause (as defined in Section
      3.2(b) of this Agreement).

3.2   (a) This Agreement may be terminated by the Companies, immediately upon
      the lapse of any applicable cure period, by notice served on LEXINGTON if:
      (i) LEXINGTON commits a material breach of its obligations under this
      Agreement, which breach shall have continued without having been cured for
      a period of 60 days after notice thereof from the Companies; (ii)
      LEXINGTON or

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      any of its principals is engaging or has engaged during the term of this
      Agreement in fraud or dishonesty or any act involving moral turpitude;
      (iii) a distress, execution, sequestration or other process is levied or
      enforced upon the property of LEXINGTON which is not discharged within 30
      days; (iv) LEXINGTON is unable to pay its debts in the normal course of
      business, which inability shall have continued for a period of 30 days;
      (v) LEXINGTON ceases or threatens to cease, wholly or substantially, to
      carry on its business; (vi) an encumbrancer takes possession of, or a
      receiver or trustee is appointed over the whole or any part of the
      undertaking, property or assets of LEXINGTON; (vii) an order is made or a
      resolution is passed for the winding-up of LEXINGTON; or (viii) American
      International Group, Inc. ceases to own, directly or indirectly, interests
      representing more than 50% of the voting interests in LEXINGTON (any of
      the foregoing (i) - (viii) of this Section 3.2(a), a "Company Cause").

      (b) This Agreement may be terminated by LEXINGTON, immediately upon the
      lapse of any applicable cure period, by notice served on the Companies if:
      (i) the Companies or either one of them commit(s) a material breach of the
      Companies' obligations under this Agreement, which breach shall have
      continued without having been cured for a period of 60 days after notice
      thereof from LEXINGTON; (ii) a distress, execution, sequestration or other
      process is levied or enforced upon the property of the Companies or either
      one of them which is not discharged within 30 days; (iii) the Companies
      are unable to pay their debts in the normal course of business, which
      inability shall have continued for a period of 30 days; (iv) the Companies
      ceases or threatens to cease, wholly or substantially, to carry on its
      business; (v) an encumbrancer takes possession of, or a receiver or
      trustee is appointed over the whole or any part of the undertaking,
      property or assets of either the Company or the Companies; (vi) an order
      is made or a resolution is passed for the winding-up of either the Company
      or the Companies; or (vii) the shareholders of the Company as of the date
      hereof, taken together, cease to own, directly or indirectly, interests
      representing more than 50% of the voting interests in the Company (any of
      the foregoing (i) - (vii) of this Section 3.2(b), a "LEXINGTON Cause").

3.3   If this Agreement terminates pursuant to its terms on December 31, 2006,
      LEXINGTON shall continue providing (a) the services set forth in Section
      1.1(g) for an additional three month period following termination and (b)
      the services set forth in Sections 1.1(c) and (d) only as such services
      relate solely to periods ending on or before December 31, 2006. For the
      avoidance of doubt, any services provided pursuant to this Section 3.3
      would be subject to the payment procedures set forth in Section 2 of this
      Agreement.

3.4   If this Agreement is terminated (other than services provided pursuant to
      Section 3.3), (a) any fees payable under Section 2 of this Agreement with
      respect to the performance of LEXINGTON under this Agreement will be
      determined to the effective date of termination; (b) on or as of the
      termination date, the Companies shall be entitled to require LEXINGTON to
      carry out one or more of the following: (i) deliver to the Companies or
      its designee, in a mutually agreeable

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      format, all the Books and Records, however generated, relating to the
      Companies's business including any off-line storage and security copies of
      data relating to the Companies's business; (ii) store on magnetic, optical
      or other media all or any of the information then stored on-line relating
      the Companies's business and to deliver such media, in a mutually
      agreeable format, to the Companies or its designee; (iii) make and deliver
      to the Companies or its designee such printouts of information relating to
      the Companies's business as the Companies may reasonably require; and (iv)
      use its reasonable best efforts to obtain for the Company direct licenses
      to use, or to procure the sale to the Company of, any third party software
      used during the term of this Agreement (including any software owned by
      LEXINGTON); (c) LEXINGTON shall cooperate fully with the Companies or its
      designee in performing its obligations under this Section 3.3, and (d) the
      following provisions of this Agreement will survive the termination:
      Sections 1.2, 1.3, 6, 7, 8, 9, 10, 11 and 15.

4.    Representations and Warranties

4.1   Representations and Warranties of LEXINGTON

      LEXINGTON represents and warrants as of the date hereof as follows: (a)
      LEXINGTON is a company duly incorporated, validly existing and in good
      standing under the laws of Delaware; (b) the execution, delivery and
      performance by LEXINGTON of this Agreement are within LEXINGTON's
      corporate powers, have been duly authorized by all necessary corporate
      action, do not contravene (i) LEXINGTON's memorandum of association or
      bye-laws; or (ii) law or any regulation or contractual restriction binding
      on or affecting LEXINGTON; (c) no authorization or approval or other
      action by, and no notice to or filing with, any governmental authority is
      required for the due execution, delivery and performance by LEXINGTON of
      this Agreement except for such filings with, and approvals of such
      governmental authorities as will have been made and obtained prior to the
      date of this Agreement; and (d) this Agreement is the legal, valid and
      binding obligation of LEXINGTON enforceable against LEXINGTON in
      accordance with its terms.

4.2.  Representations and Warranties of the Companies

      Each of the Companies represents and warrants as of the date hereof as
      follows: (a) it is a company duly incorporated, validly existing and in
      good standing under the laws of its state of incorporation as stated
      herein; (b) the execution, delivery and performance by it of this
      Agreement are within its corporate powers, have been duly authorized by
      all necessary corporate action, do not contravene (i) its memorandum of
      association or bye-laws; or (ii) law or any regulation or contractual
      restriction binding on or affecting it; (c) no authorization or approval
      or other action by, and no notice to or filing with, any governmental
      authority is required for the due execution, delivery and performance by
      it of this Agreement except for such filings with, and approvals of such
      governmental authorities as will have been made and obtained prior to the
      date of this Agreement; and (d) this

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      Agreement is its legal, valid and binding obligation enforceable against
      it in accordance with the terms of this Agreement.

5.    Right of the Companies to Inspect Records

5.1   LEXINGTON shall keep, in a manner and form approved by or acceptable to
      the Companies, true and complete Books and Records of all the Companies's
      business conducted under and pursuant to this Agreement.

5.2   LEXINGTON shall maintain all records with regard to the Companies's
      business separately from the records of its other businesses, provided
      that the Companies may use identical computer and other systems so long as
      information with regard to the Companies is maintained separately and in
      an identifiable manner. The Companies shall have the right at all times
      during LEXINGTON's business hours, and at its own expense, to inspect the
      records of LEXINGTON (or any entity employed by LEXINGTON for any such
      purpose) relating to the facilities, services, space or equipment provided
      hereunder. The term "Books and Records" shall mean all materials, books
      and records and data in whatever form or medium (a) furnished by the
      Companies to LEXINGTON in connection with the performance by LEXINGTON of
      its obligations under this Agreement; (b) generated by LEXINGTON in
      connection with the performance by LEXINGTON of its obligations under this
      Agreement; or (c) that in any way pertain to the performance of the
      obligations of LEXINGTON under this Agreement, including books of account,
      insurance and reinsurance policies and contracts entered into by the
      Companies and all correspondence related thereto, underwriting files,
      claim and reserving files, data on premium and claim payments and any and
      all materials, books and records and data relating to Companies' business.

6.    Ownership of Books and Records by the Companies

6.1   All Books and Records kept by LEXINGTON in connection with the Companies's
      business managed by LEXINGTON shall be and remain the sole property of the
      Companies and will remain the property of the Companies following
      termination of this Agreement, including all databases maintained by
      LEXINGTON relating to the Companies' accounting, insurance or other
      records and whether or not such data is maintained on information systems
      owned by LEXINGTON or the Companies or neither. All such Books and Records
      shall be delivered to the Companies upon termination of this Agreement.

6.2   The Companies shall maintain such Books and Records for a period of ten
      (10) years or for the period as may be required under their respective
      records retention policies if longer or for such longer period of time as
      may be required by law or any applicable court order and LEXINGTON shall
      have reasonable access to and the right to inspect such Books and Records
      during such period for (i) LEXINGTON's preparation of tax returns,
      including, but not limited to, any inquiries by any governmental or
      regulatory authority in respect of the taxes of

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      LEXINGTON or (ii) LEXINGTON's response to any claims, lawsuits, legal
      proceedings or investigations.

6.3   Notwithstanding any other provision of this Section 6, Section 3.4 or this
      Agreement generally, LEXINGTON shall have the right to retain, at its own
      expense, a copy of any Books and Records and the original computer back-up
      tapes which contain information relating to both the business and
      operations of LEXINGTON or it affiliates and the Companies; provided that
      LEXINGTON shall maintain such Books and Records and tapes for a period of
      ten (10) years or for the period as may be required under its records
      retention policy if longer or for such longer period of time as may be
      required by law or any applicable court order and further provided that
      the Companies shall have reasonable access to and the right to inspect and
      make a copy of such copy of the Books and Records and original tapes to
      the extent they relate to the business and operations of either of the
      Companies or to respond to any tax matters, claims, lawsuits, legal
      proceedings or investigations.

7.    Confidentiality

7.1   LEXINGTON hereby acknowledges that, as a result of its performance of
      services for the Companies under this Agreement, it has and will acquire
      non-public information with respect to the Companies and their respective
      affairs, including: (a) information relating to the business, finances,
      methods of operation, business plans, marketing strategies and other
      information relating to the Companies and customers of the Companies and
      (b) other trade secrets and proprietary information of the Companies
      (hereinafter collectively referred to as "Confidential Information").

7.2   During the term of this Agreement and at all times thereafter, LEXINGTON
      shall, and shall cause each of its directors, officers, employees and
      agents (such Persons, collectively "Covered Persons") to, keep
      confidential (to the extent required hereby) all Confidential Information
      that any of them may obtain and to not to use such Confidential
      Information for any purpose other than in the course of the performance of
      this Agreement.

7.3   The foregoing restrictions shall not apply with respect to any
      Confidential Information (a) previously known to LEXINGTON through a
      source not bound by any obligation to keep the Confidential Information
      confidential, (b) lawfully obtained by LEXINGTON, other than its capacity
      as the provider of services to the Companies under this Agreement, from
      sources not bound by any obligation to keep such Confidential Information
      confidential, or (c) the disclosure of which to any director, officer,
      employee or agent of LEXINGTON is necessary to carry out the purposes of
      this Agreement, provided, however, that such disclosure referred to in
      this clause (c) shall be limited to the extent reasonably necessary to
      protect the rights of the Companies with respect to its Confidential
      Information, and that as a condition to disclosing any Confidential
      Information to any person who is not bound by a duty of confidentiality to
      LEXINGTON and its clients,

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      LEXINGTON shall require that such person enter into a confidentiality
      agreement with the Companies on terms satisfactory to the Companies. In
      addition, notwithstanding anything to the contrary provided in this
      Agreement, the restrictions upon use and disclosure of information under
      this Section 7 shall not apply to any information developed by, and/or
      provided to the Companies or LEXINGTON by, American International Group,
      Inc. (to the extent that American International Group, Inc. is not subject
      to any confidentiality obligation to the Companies with respect thereto)
      or any of its affiliates (to the same extent) other than information
      generated by LEXINGTON in connection with the performance by LEXINGTON of
      its obligations under this Agreement.

7.4   LEXINGTON may disclose any Confidential Information if and as required as
      a result of any governmental investigation, court order, subpoena,
      deposition, interrogatory, request for documents, civil investigative
      demand, or similar legal duress, and to the extent reasonably necessary
      for LEXINGTON or any of its affiliates to comply with applicable
      securities laws and regulations and stock exchange requirements and the
      applicable regulations of other regulatory agencies having jurisdiction
      over LEXINGTON or any of its affiliates.

7.5   Notwithstanding anything provided in this Section 7, Confidential
      Information may be disclosed with the prior written consent of the Board
      of Directors of the Company or the Companies, as the case may be.

8.    Indemnification

8.1   The Companies hereby, jointly and severally, indemnify and hold LEXINGTON
      and each of its directors, officers, servants, agents and employees
      (collectively, "LEXINGTON Indemnitees"), harmless from and agrees to
      defend each of them from and against all and any manner of liabilities,
      suits, claims, damages and expenses ("Losses") arising out of or in
      connection with the performance by LEXINGTON of its obligations hereunder
      (other than those Losses that are the result of willful misconduct, bad
      faith or gross negligence on the part of any of the LEXINGTON Indemnitees,
      with respect to which LEXINGTON shall remain liable).

8.2.  Indemnification Procedures

      (a)   In the case of any claim asserted by a third party against a party
            entitled to indemnification under this Section 8 (the "Indemnified
            Party"), notice shall be given by the Indemnified Party to the party
            required to provide indemnification (the "Indemnifying Party")
            promptly after such Indemnified Party has actual knowledge of any
            claim as to which indemnity may be sought, and the Indemnified Party
            shall permit the Indemnifying Party (at the expense of such
            Indemnifying Party) to assume the defense of any claim or any
            Litigation resulting therefrom, provided that: (i) counsel for the
            Indemnifying Party who shall conduct the defense of such claim or
            litigation shall be satisfactory to the Indemnified Party, and the
            Indemnified Party

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            may participate in such defense at such Indemnified Party's expense;
            and (ii) the failure of any Indemnified Party to give notice as
            provided herein shall not relieve the Indemnifying Party of its
            indemnification obligation under this Agreement except to the extent
            that such failure results in a lack of actual notice to the
            Indemnifying Party and such Indemnifying Party is materially
            prejudiced by way of any forfeiture of rights or defenses or
            otherwise as a result of such failure to give notice.

      (b)   Except with the prior written consent of the Indemnified Party, no
            Indemnifying Party, in the defense of any such claim or litigation,
            shall consent to entry of any judgment or enter into any settlement
            that provides for injunctive or other non-monetary relief affecting
            the Indemnified Party or that does not include as an unconditional
            term thereof the giving by each claimant or plaintiff to such
            Indemnified Party of a release from all liability with respect to
            such claim or litigation. The parties shall cooperate in the defense
            of any claim or litigation brought under this Section 8.2 and the
            records of each shall be available to the other with respect to such
            defense.

8.3   The Companies shall maintain insurance coverage of the kinds and in the
      amounts that is appropriate for their businesses. LEXINGTON shall be the
      sole loss payee with respect to insurance for damage to or loss of
      Equipment and LEXINGTON shall be an additional named insured on the
      Companies' comprehensive liability insurance. The Companies shall deliver
      to LEXINGTON a certificate of insurance with respect thereto. Said
      insurance shall provide that it cannot be amended or canceled without the
      insurer first giving LEXINGTON not less than 60 days' prior written notice
      thereof.

8.4   LEXINGTON shall maintain insurance coverage of the kinds and in the
      amounts that is appropriate for its business, including errors and
      omissions liability insurance coverage.

9.    Employee Matters.

      (a)   Except as specifically provided in Section 9(b) below, neither
            Company nor any of their respective affiliates shall, during the
            period beginning on the date hereof and concluding on the 18-month
            anniversary of the termination or expiration of this Agreement,
            solicit the employment of, or hire, any employee of LEXINGTON or its
            affiliates without the prior written consent of LEXINGTON, which
            consent shall be confirmed in writing by an Executive Vice President
            of LEXINGTON.

      (b)   Upon the expiration or termination of this Agreement, the Companies
            may make offers of employment to all of the employees of LEXINGTON
            that spend greater than 50% of their time providing services to the
            Companies pursuant to this Agreement ("Service Employees"). The
            Companies shall jointly and severally indemnify LEXINGTON against
            any and all Losses relating to any Service Employee who does not
            receive an offer of

                                       12
<PAGE>

            employment from the Companies upon the expiration or termination of
            this Agreement ("Excluded Employees"), including (i) any
            employment-related Losses with respect to any Excluded Employee and
            (ii) any Losses related to severance or similar payments due to any
            Excluded Employee in accordance with the American International
            Companies Personnel Manual, specifically Policy No. 412 (Severance
            Pay) and Policy No. 415 (Reduction in Force).

10.   Arbitration

      (a)   Resolution of Disputes, Choice of Law & Venue - As a condition
            precedent to any right arising hereunder, any dispute not resolved
            by mediation between the Companies and Lexington arising out of the
            provisions of this Agreement or concerning its interpretation or
            validity, whether arising before or after termination of this
            Agreement, shall be submitted to arbitration in the manner
            hereinafter set forth, and shall be governed by and construed in
            accordance with the laws of the State of Delaware, without giving
            effect to the principles of conflict of laws thereof.

      (b)   Composition of Panel - Unless the parties agree upon a single
            arbitrator within fifteen (15) days after the receipt of a notice of
            intention to arbitrate, all disputes shall be submitted to an
            arbitration panel composed of two arbitrators and an umpire chosen
            in accordance with Section 10(c) hereof.

      (c)   Appointment of Arbitrators - The members of the arbitration panel
            shall be chosen from persons knowledgeable in the insurance
            business. Unless a single arbitrator is agreed upon, the party
            requesting arbitration (hereinafter referred to as the "claimant")
            shall appoint an arbitrator and give written notice thereof by
            certified mail, to the other party (hereinafter referred to as the
            "respondent") together with his notice of intention to arbitrate.
            Within thirty (30) days after receiving such notice, the respondent
            shall also appoint an arbitrator and notify the claimant thereof by
            certified mail. Before instituting a hearing, the two arbitrators so
            appointed shall choose an umpire. If, within twenty (20) days after
            the appointment of the arbitrator chosen by the respondent, the two
            arbitrators fail to agree upon the appointment of any umpire, each
            of them shall nominate three individuals to serve as umpire, of whom
            the other shall decline two and the umpire shall be chosen from the
            remaining two by drawing lots. The name of the individual first
            drawn shall be the umpire.

      (d)   Failure of Party to Appoint an Arbitrator - If the respondent fails
            to appoint an arbitrator within thirty (30) days after receiving a
            notice of intention to arbitrate, the claimant's arbitrator shall
            appoint an arbitrator on behalf of the respondent, such arbitrator
            shall then, together with the claimant's arbitrators, choose an
            umpire as provided in Section 10(c) hereof.

                                       13
<PAGE>

      (e)   Submission of Dispute to Panel - Unless otherwise extended by the
            arbitration panel or agreed to by the parties, each party shall
            submit its case to the panel within thirty (30) days after the
            selection of the umpire.

      (f)   Procedure Governing Arbitration - All proceedings before the panel
            shall be informal and the panel shall not be bound by the formal
            rules of evidence. The panel shall have the power to fix all
            procedural rules relating to the arbitration proceeding. In reaching
            any decision, the panel shall give due consideration to the customs
            and usage's of the insurance business.

      (g)   Arbitration Award - The arbitration panel shall render its decision
            within thirty (30) days after termination of the proceeding, which
            decision shall be in writing, stating the reasons therefore. The
            decision of the majority of the panel shall be final and binding on
            the parties to the proceeding.

      (h)   Cost of Arbitration - Unless otherwise allocated by the panel, each
            party shall bear the expense of its own arbitrator and shall jointly
            and equally bear with the other parties the expense of the umpire
            and the arbitration.

11.   Notices

      All communications provided for hereunder shall be in writing, and if to
      the Companies, mailed or delivered to each of the Companies at 100 Summer
      Street, Boston, MA, Attention: President, or if to LEXINGTON, mailed or
      delivered to LEXINGTON at its office at 100 Summer Street, Boston, MA,
      Attention: President, or addressed to either party at any address that
      such party may hereafter designate by written notice to the other party.

12.   Entire Agreement; Amendment

      This Agreement constitutes the entire agreement between the parties with
      respect to the provision of administrative services to the Companies by
      LEXINGTON and supersedes and extinguishes any warranty, representation or
      arrangement previously given or made with respect thereto, other than
      those expressly set out herein. The express terms hereof supersede any
      course of performance or usage of the trade. This Agreement may not be
      amended except in writing signed by each of the parties hereto.

13.   No Waiver

      Neither the failure nor delay on the part of any party in exercising any
      right, remedy, power or privilege under this Agreement shall operate as a
      waiver thereof, nor shall any single or partial exercise of any right,
      remedy, power or privilege preclude any other or further exercise of the
      same or of any other right, remedy, power or privilege, nor shall any
      waiver of any right or remedy, power or privilege with respect to any
      occurrence be construed as a waiver of such right, remedy, power or
      privilege with respect to any other occurrence. No waiver

                                       14
<PAGE>

      hereunder shall be effective unless it is in writing and is signed by the
      party asserted to have granted such waiver.

14.   Successors and Assigns

      The provisions of this Agreement shall be binding upon and shall inure to
      the benefit of and be enforceable by each of the parties hereto. This
      Agreement and any rights pursuant hereto shall not be assignable by any
      party hereto.

15.   Governing Law; Submission to Jurisdiction

      This Agreement shall be governed by and construed in accordance with the
      laws of Delaware, without reference to the principles of conflicts of law
      thereof. If any suit is instituted by any of the parties to enforce any of
      the terms or conditions of this Agreement, each of the parties hereby
      submits to the exclusive jurisdiction of and venue in the United States
      District Court of Delaware or the Delaware Court of Common Pleas or the
      Delaware Superior Court, as appropriate.

16.   Relationship of the Parties

      The Companies, the Company and LEXINGTON are independent of one another.
      Nothing in this Agreement shall be deemed to create: (a) a joint venture
      or partnership between the parties; (b) a relationship of employer and
      employee; (c) a relationship of principal and agent; or (d) any
      relationship other than independent parties contracting with each other
      solely for the purpose of carrying out the provisions of this Agreement.

17.   Counterparts

      This Agreement may be executed in any number of counterparts, each of
      which shall be an original with the same effect as if the signatures
      thereto and hereto were upon the same instrument, and such counterparts
      together shall constitute one and the same instrument.

18.   Headings

      The section headings contained herein are for convenience only and shall
      not alter or limit or define the provisions hereof.

19.   Severability

      In the event that any word, sentence, paragraph, provision, section,
      subsection or article of this Agreement is found to be void or voidable,
      the remainder of this Agreement shall nevertheless be legal and binding
      with the same force and effect as though the void or voidable parts were
      deleted.

                                       15
<PAGE>

20.   Further Assurances

      Each of the parties to this Agreement shall, from time to time as
      reasonably requested to do so by the other party do, execute, acknowledge
      and deliver any and all such other and further acts, assignments,
      transfers and any instruments of further assurance, approvals and consents
      as are necessary or proper in order to complete, ensure and perfect the
      consummation of the transactions contemplated hereby.

                                       16
<PAGE>

      IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed in Boston, Massachusetts on the date first written above.

                                NEWMARKET UNDERWRITERS INSURANCE COMPANY

                                By: /s/ Richard E. Jodoin
                                    -----------------------
                                   Name: Richard E. Jodoin
                                   Title: President

                                ALLIED WORLD ASSURANCE COMPANY (U.S.) INC.

                                By: /s/ Richard E. Jodoin
                                    -----------------------
                                   Name: Richard E. Jodoin
                                   Title: President

                                LEXINGTON INSURANCE COMPANY

                                By: /s/ Nicholas E. Anselmo
                                   ---------------------------------------------
                                   Name: Nicholas E. Anselmo
                                   Title: Executive Vice President<PAGE>

                                                                    EXHIBIT 10.9

                               SERVICES AGREEMENT

This Services Agreement (this "Agreement") is effective as of January 1, 2006

                                     BETWEEN

ALLIED WORLD ASSURANCE COMPANY (EUROPE) LIMITED and ALLIED WORLD ASSURANCE
COMPANY (REINSURANCE) LIMITED 3rd Floor , Georges Quay Plaza, Georges Quay,
Dublin 2, (hereinafter collectively referred to as the "Company") are both
limited liability company registered under the laws of Ireland of the one part.

AIG INSURANCE MANAGEMENT SERVICES (IRELAND) LIMITED AIG Centre, North Wall Quay,
Dublin 1, (hereinafter referred to as "AIM") a limited liability company
incorporated under the laws of Ireland of the other part.

THE COMPANY WISHES TO OBTAIN CERTAIN SYSTEM AND IT SUPPORT SERVICES FROM AIM TO
CONDUCT ITS ACTIVITIES AS AN INSURANCE COMPANY WHILST IT IS DEPENDENT ON THE
AMERICAN INTERNATIONAL GROUP, INC. ("AIG") SYSTEM NETWORK.

NOW THEREFORE IT IS HEREBY AGREED AS FOLLOWS:

1.    AIM hereby agrees to engage Ashling Garry (the "Employee") through AIM as
      a network administrator on a nine month contract to cover the period
      January 1, 2006 to September 30, 2006 (the "Term") to provide assistance
      and support to the Company's IT department in relation to the Company's
      activities.

2.    The Company shall provide the operating infrastructure to enable the
      Employee to perform her duties, such infrastructure to include at a
      minimum a computer workstation and a personal computer attached to the AIG
      network. The Company is not required to provide the Employee with a mobile
      phone or blackberry device but can do so at its own cost and discretion.

3.    The Employee shall ultimately report to the directors of AIM as her
      employer. Functionally the Employee will take instructions from the
      Company's European IT Manager. However at all times the Employee has the
      right to refuse to carry out instructions that she reasonably believes
      contravenes any AIG standards, protocol or procedures or which fall
      outside of her responsibilities under this Agreement as specifically set
      forth in Appendix A attached hereto.

4.    AIM agrees to perform the services hereunder in a commercially reasonable
      manner, to comply with any reasonable procedures laid down by the Company
      from time to time during the Term and to make commercially reasonable
      efforts to accommodate such reasonable instructions as it may receive from
      the Company provided that such instructions shall be within the terms of
      this Agreement.

5.    In full compensation for the services to be performed by AIM during the
      Term hereunder, the Company shall pay AIM a fee (the "Agreed Fee") of
      STG(pound)36,000 (plus any VAT due) payable quarterly in advance. Under
      the terms of this Agreement, AIM shall be responsible for the Employee's
      salary, benefits and salary/payroll taxes. All other

<PAGE>

      expenses shall be those of the Company and will either be paid directly by
      the Company or will be promptly reimbursed by the Company to AIM.

      The Company shall, in addition, reimburse AIM for reasonable out-of-pocket
      expenses such as faxes, travel, telephone, shared services and similar
      charges (if any) resulting from the proper performance of the functions
      and services to be performed hereunder.

6.    Unless otherwise required by applicable law, AIM agrees to treat as
      confidential and not to disclose to any other party any information
      received with respect to or on behalf of the Company in the performance of
      this Agreement including all books and records of the Company. Unless
      otherwise required by applicable law, AIM shall not release any books or
      records of the Company to any person other than any of the Company's
      directors, auditors or such employees of the Company as the directors of
      the Company may from time to time designate, unless otherwise instructed
      in writing by two directors of the Company.

7.    AIM shall not be required to provide dedicated support should the Employee
      be on annual leave or sick leave. In these circumstances support will be
      on a commercially reasonable efforts basis.

8.    The Company shall indemnify AIM and any of its officers, directors or
      employees ("Representatives") against all liabilities, damages, costs and
      claims whatsoever incurred by AIM or its Representatives whilst (a)
      providing services under this Agreement and (b) complying with any
      instructions from time to time given by the Company to AIM unless such
      liabilities, damages, costs or claims arise as a result of AIM's or the
      Representative's own negligence or wilful misconduct.

9.    AIM agrees to indemnify the Company and its Representatives against all
      liabilities, damages, costs and claims whatsoever incurred by the Company
      or its Representatives as a result of the negligent and/or fraudulent acts
      of AIM and/or its Representatives.

10.   This Agreement may be amended from time to time by an exchange of letters
      between the parties hereto which shall be considered of the same effect as
      a formal addendum to this Agreement. The obligations and duties of AIM
      hereunder may be further limited (but not extended) from time to time by
      the Company, without AIM's consent, by written instructions received in
      accordance with the notice provisions of Clause 11 hereof at the offices
      of AIM.

11.   Notices hereunder shall be given by registered prepaid post, telex or
      facsimile message addressed to the relevant party at its address herein
      set forth or last known address, as the case may be, and any such notice
      if given by letter, shall be deemed to have been received three days after
      posting and, if sent by telex or facsimile, shall be deemed to have been
      received on termination of the telex or facsimile transmission as the case
      may be.

12.   The appointment of AIM hereunder is to be for the Term as set out in
      Clause 1 of this Agreement and shall automatically terminate on September
      30, 2006, provided, however, that either party shall be entitled to
      terminate this Agreement upon giving one months' prior notice in writing
      to the other party.

                                      -2-
<PAGE>

13.   This Agreement shall be governed by and construed in accordance with the
      laws of Ireland.

14.   During the Term of this Agreement and for six months thereafter (with an
      exception in the case of Ashling Garry during such six-month period),
      neither the Company, any of its affiliates nor any of their
      Representatives shall approach, induce with offers of employment directly
      or indirectly any staff of AIM or any of its affiliates that the Company
      comes into contact with as a consequence of the services provided under
      this Agreement without the prior written consent of AIM.

15.   Neither this Agreement nor any right, benefit or obligation conferred or
      imposed hereunder is assignable in whole or in part, whether by operation
      of law or otherwise, by either party hereto without the prior written
      consent of the other party; provided, however, that either party may make
      such assignment to any entity which controls, is controlled by, or is
      under common control with the assignor.

16.   All prior negotiations and agreements between the parties hereto relating
      to the subject matter hereof are superseded by this Agreement and there
      are no representations, warranties, understandings or agreements other
      than these expressly set forth herein, except as modified by an instrument
      signed by the parties.

17.   The failure of either party at any time to require the other party's
      performance of any obligation under this Agreement shall not affect the
      right to require performance of that obligation in the future. Any waiver
      by either party of any breach of any provision hereof shall not be
      construed as a waiver of any continuing or succeeding breach of such
      provision, a waiver or modification of the provision itself, or a waiver
      or modification of any right under this Agreement.

                                      -3-
<PAGE>

IN WITNESS WHEREOF the parties hereto have caused this Agreement to be executed
by their authorised representatives the day and year first herein written.

SIGNED for and on behalf of:

Dated 6/2/06                       /s/ Conor Henry

SIGNED for and on behalf of :    ALLIED WORLD ASSURANCE COMPANY (EUROPE) LIMITED

Dated 6/2/06                       /s/ John T. Redmond

Signed for and on behalf of:     ALLIED WORLD ASSURANCE COMPANY (REINSURANCE)
                                 LIMITED
Date 6/2/06                       /s/ John T. Redmond

Signed for and on behalf of:     AIG INSURANCE MANAGEMENT SERVICES (IRELAND)
                                 LIMITED
Date 31/01/2006                   /s/ David Stafford

                                      -4-

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