Document:

Exhibit 10.30

                                                                        BENFIELD
                                                                  (Logo omitted)

                    TECHNICAL PROPERTY BINDER OF REINSURANCE

REINSURED
COMPANY:             Quanta Indemnity Company, Quanta Specialty Lines Insurance
                     Company, Quanta Reinsurance US Ltd.

REINSURER:           Arch Reinsurance Ltd.

BUSINESS COVERED:    The Reinsurer will accept a 100% Quota Share of the
                     Reinsured Company's technical risk property business and
                     all business assumed via the Peachtree facility subject to
                     a maximum any one risk/any one occurrence of $5,000,000.
                     Definition of "Per Risk" to follow form with the Per Risk
                     XOL treaty currently in place. Only policies listed on the
                     bordereau will be covered hereunder.

TERM:                October 1, 2005 to December 31, 2006 (run off at 12/31/06
                     at terms to be agreed and negotiated). Coverage can be
                     terminated on a cut off basis at 8/1/06 if the premium for
                     the catastrophe coverage is not paid to the Reinsurer by
                     7/15/06.

TERRITORY:           As per original policies.

EXCLUSIONS:          1)   As original, plus a full terrorism exclusion clause

                     2)   Any losses from Hurricane Wilma

PREMIUM:             130% of the net UEP (defined below) for the term of the
                     contract plus any additional earned premium collected
                     during the period of this contract for premium adjustments
                     or coverage extensions that fall within the term of this
                     contract.

                     The 100% net UEP for the period 10/1/05 - 12/31/06 is
                     estimated to be $7,000,000. The $7,000,000 (the estimated
                     UEP) will be a deposit premium that is adjustable subject
                     always to a minimum of $4,900,000 (whether or not the
                     contract terminates at 8/1/06).

                     A further $2,100,000 is payable as a one time premium which
                     shall be fully earned by the Reinsurer at inception.

                     A $500,000 Commitment Fee will be paid in full within 24
                     hours of an executed binder and the remaining Premium will
                     be paid on 11/28/05. The Reinsurer and the Company will use
                     their best efforts to execute formal reinsurance contracts
                     by the premium due date of 11/28/05.

CATASTROPHE COVER:   The Reinsurer will offer and the Company will purchase a
                     $5,000,000 xs $5,000,000 Catastrophe Cover with one
                     additional reinstatement at 100% AP from the Reinsurer for
                     the period 8/1/06 - 12/31/06 for a premium of $750,000. The
                     premium for the Catastrophe Cover is due on or before
                     7/15/06.

                     Should the payment for the Catastrophe Cover not be
                     received by the Reinsurer by 7/15/06 then the Quota Share
                     will automatically be terminated on a cut off basis. The
                     Reinsurer will return the net UEP for the period 8/1/06 -
                     12/31/06.

                     The Reinsured Company also has the option to expand this
                     cover to a layer of $10,000,000 xs $5,000,000 for a total
                     premium of $1,500,000.

DEFINITIONS:         Net UEP is defined as the unearned portion at 10/1/05 of
                     the gross earned premium less original commissions less any
                     inuring facultative reinsurance.

WARRANTY:            In the event of a return of written premium due to
                     cancellation of any original risk for any period UEP shall
                     be adjusted accordingly but strictly pro rata as to time
                     (and subject always to the minimum UEP of $4,900,000
                     payable to the Reinsurer).

                     All premiums ceded hereunder are deemed collectible by the
                     Company.

                     Failure to pay deposit premium by 11/28/05 will result in
                     cancellation of this Binder and Arch Re Ltd shall retain
                     the $500,000 Commitment Fee.

BROKERAGE:           1.5% of UEP / 10% of Cat Premium.

QUANTA INDEMNITY COMPANY/QUANTA         ARCH REINSURANCE LTD.
SPECIALTY LINES INSURANCE
COMPANY/QUANTA REINSURANCE LTD.

Authorized                              Authorized
Signature: /s/ Jonathan J.R. Dodd       Signature: /s/ Tim Peckett
           --------------------------              -----------------------------
Title: Interim Chief Financial          Title: General Counsel
       Officer
Date 11/18/2005                         Date 11/17/2005

                                  Page 2 of 2

                         BENFIELD GREIG ELLINGER, INC.Exhibit 10.31

                                                                        BENFIELD
                                                                  (Logo omitted)

                       TREATY PROPERTY REINSURANCE BINDER

REINSURED
COMPANY:               Quanta Reinsurance Ltd, Quanta Indemnity Company, Quanta
                       Reinsurance US Ltd. and Quanta Specialty Lines Insurance
                       Company, hereinafter referred to as "Company".

REINSURER:             Arch Reinsurance Ltd.

BUSINESS COVERED:      The Reinsurer will accept a 100% QS of the Company's
                       property reinsurance assumed portfolio except as detailed
                       below.

TERM:                  October 1, 2005 until the natural expiration of all
                       business.

TERRITORY:             As per original treaties.

EXCLUSIONS:            1)   Any losses from Hurricane Wilma

                       2)   The following contracts will not be subject to this
                            agreement:

                            GMAC Aggregate Cover

                            Manitoba Crop Cover

PREMIUM:               The Company will pay the Reinsurer 100% of the UEP as of
                       10/1/05 and 100% of the written premium on or after
                       10/1/05 on all assumed contracts subject to this
                       agreement. Further, Quanta shall cede 100% of the assumed
                       written premium from the SV Stuttgart Aggregate XOL
                       cover.

                       The Net Cash received to date by the Company on Business
                       Covered will be paid in full to the Reinsurer on
                       11/28/05. The Reinsurer and the Company will use their
                       best efforts to execute formal reinsurance contract by
                       11/28/05.

                       In respect of both the Technical Property & Treaty
                       Property Treaties ("Treaties"), a $500,000 non refundable
                       Commitment Fee will be paid in full within 24 hours of an
                       executed binder and the remaining Premium will be paid on
                       11/28/05. The Reinsurer and the Company will use their
                       best efforts to execute formal reinsurance contracts by
                       the premium due date of 11/28/05.

                       In the event that either Treaties are not executed, by
                       reason of the Company not executing the contract, Arch Re
                       will retain the above mentioned Commitment Fee.

                       Arch Re to receive its proportional share of any premium
                       adjustments to the business covered hereunder.

INURING REINSURANCE:   All inuring reinsurance treaties purchased by the Company
                       as described below will be endorsed to add the Reinsurer
                       as an additional beneficiary. The endorsements shall take
                       effect as of the inception date of coverage granted by
                       the Reinsured hereunder and the UEP for the Inuring
                       Reinsurances will be split as per the following schedule:

                                         Expiration    100% USD    100% USD    Total Ceded
Description                                 Date        Limit     Attachment     Premium
-----------                              ----------   ---------   ----------   -----------

PX Re Retro Purchase EQ                   04/04/06    2,500,000       10,000      -151,247
PX Re Retro Cover EQ                      04/04/06    2,500,000       10,000       -81,925
Odyssey Re Retro Purchase EQ              04/04/06    2,500,000       10,000      -138,643
MS Frontier Re Retro Cover EQ             04/04/06    2,500,000       10,000       -78,774
Sompo Retro -- 40B CA only EQ ILW         07/01/06    5,000,000       25,000       -82,648
                                                                                ----------
                                                                                  -533,237
                                                                                ----------
Catlin Retro Cover -- TX wind 2.5B ILW    07/01/06    5,000,000       10,000      -523,562
Odyssey Re Retro -- 15B US Wind ILW       07/01/06    2,500,000       10,000      -299,178
Glacier Re Retro -- 20B Wind US ILW       07/01/06    6,000,000       10,000      -504,863
PX Re Retro Cover                         04/05/06    7,500,000   15,000,000      -982,498
                                                                                ----------
                                                                                -2,310,100
                                                                  ----------    ----------
                                                                      50%       -1,155,050
                                                                  ----------    ----------
                                                                    UEP to        UEP to
                                                                    Company     Reinsurer
                                                                  -1,155,050    -1,688,287

                       Note: With respect to PX Re Retro Cover, should the
                       Company exhaust any of the limit remaining for any event
                       occurring prior to 10/31/05, the Company will reimburse
                       the Reinsurer its proportionate share of the UEP for that
                       inuring reinsurance contract (i.e. 50% of 982,498 X the
                       amount of limit exhausted).

                       Note: With respect to Odyssey Re Retro, 15B US Wind ILW,
                       should the Company exhaust the limit with respect to
                       Hurricane Wilma, the Company will reimburse the Reinsurer
                       its proportionate share of the UEP for that inuring
                       reinsurance contract (i.e. 100% X 299,178).

ADJUSTMENT
FEATURES:              -    Proportional contracts covered hereunder will be
                            settled based upon the following formula: (UEP + WP
                            after 10/2/005) X (1 less final ceding commission at
                            year end, less attritional loss ratio at year end,
                            less 100% of all PCS losses occurring on these
                            contracts after 10/1/05 excluding Hurricane Wilma,
                            less FET, less brokerage). Interim adjustments will
                            be based on the selected non-cat loss ratio used
                            when the Company bound the deal, and the provisional
                            ceding commission. The definition of "attritional
                            losses" and "attritional loss ratio" for these
                            purposes must be agreed by the Reinsurer and is
                            subject to due diligence that may be conducted by
                            the Reinsurer. The projected attritional loss ratio
                            will be estimated for these purposes as at 10/1/05
                            and is subject to adjustment on final settlement of
                            any balances due to the Company always subject to
                            agreement by the Reinsurer.

WARRANTY:              -    Losses on Risk XOL contracts will be settled as
                            follows: Losses occurring on or after 10/1/2005 will
                            be assumed by the Reinsurer.

                                   Page 2 of 3

                          BENFIELD GREIG ELLINGER, INC.

                       -    The Company will cede the Net Cash received as
                            respects all premiums subject to this Binder &
                            collected to date. Net Cash to be defined as Gross
                            Unearned Premium less paid losses, less Arch's share
                            of inuring reinsurance, less brokerage, less ceding
                            commission, less FET.

                       -    Quarterly reporting periods starting 12/31/05, with
                            reports due 30 days after the end of the quarter and
                            with cash settlements 45 days from the end of the
                            quarter.

                       -    The Company will post an LOC for the differential
                            between expected cash receipts and actual payment
                            made at binding.

                       All  premiums ceded are deemed collectible.

                       Failure to pay deposit premium by 11/28/05 will result in
                       cancellation of the Binder and Arch Re Ltd shall retain
                       the Commitment Fee.

                       Subject to further due diligence by Arch Re Ltd.

BROKERAGE:             1.5% of UEP.

QUANTA REINSURANCE LTD/QUANTA            ARCH REINSURANCE LTD.
INDEMNITY COMPANY/QUANTA SPECIALTY
LINES INSURANCE COMPANY/QUANTA
REINSURANCE US LTD

Authorized                               Authorized
Signature: /s/ Jonathan J.R. Dodd        Signature: /s/ Matthew J. Dragonetti
           ---------------------------              ----------------------------
Title: Interim Chief Financial Officer   Title: US Underwriter
Date 18/11/05                            Date November 18, 2005

                                   Page 3 of 3

                          BENFIELD GREIG ELLINGER, INC.

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