Document:

<Page>

                                                                   Exhibit 10.43

                                        JEFFREY W. ISAACSON, CPCU, ARM, ARE
                                        Senior Account Executive
                                        Member of Senior Management

Mr. Edward N. Patrick, Jr.              Swiss Reinsurance America Corporation
Vice President                          175 King Street
Safety Insurance Company                Armonk, N.Y. 10504
20 Custom House Street
Boston, MA 02110                        Telephone (914) 828-8126
                                        Fax (914) 828-7126
                                        E-mail Jeff_Isaacson@swissre.com

                                        April 26, 2002

SAFETY INSURANCE COMPANY
2002 REINSURANCE PROGRAM

Dear Ed,

Below is an outline of reinsurance provided by Swiss Re America Corporation to
Safety Insurance Company effective January 1, 2002 for the year 2002.

We are in the process of issuing property catastrophe excess of loss contracts.
Both casualty contracts are continuous and have been renewed without change in
terms. As continuous contracts they are valid unless notice of cancellation by
one party has been sent (which has not been the case).

The following renewal of coverage is effective January 1, 2002 to December 31,
2002.

                                                    Rate             Est Premium
PROPERTY CATASTROPHE EXCESS OF LOSS

Coverage:   Property portion (Fire, Auto Physical Damage, Inland Marine,
Homeowners Section 1, Commercial Multiperil Pollicies Section 1) of all policies
issued by Safety Insurance Company.

TP1262B  95% 5,000,000 excess $5,000,000             .750%             $685,600
         per occurrence

TP1262C  95% 5,000,000 excess $10,000,000            .52%              $475,280
         per occurrence

Terrorism is provided up to a $5,000,000 annual aggregate for EACH of these 2
contracts

CASUALTY EXCESS OF LOSS PROGRAM

Coverage:  All casualty policies issued by Safety Insurance Company

<Page>

                                                     2

TC599A   $5,000,000 excess $1,000,000                .120%             $422,000
         per occurrence

PERSONAL AND COMMERCIAL UMBRELLA QUOTA SHARE

Covered: All umbrellas issued by Safety Insurance Company

TC736A Umbrella Quota Share - 90% of $5,000,000 at 32.5% commission.

We are pleased that this is the tenth consecutive year that we have provided
reinsurance for Safety.

Best regards,

*Reinsurance contracts reflecting the binding terms discussed in this terms
sheet will be prepared in the near future by our reinsurers in accordance with
industry practice.<Page>

                                                                   Exhibit 10.44

Ex.10.44
--------------------------------------------------------------------------------

                            SAFETY INSURANCE COMPANY
                       SAFETY INDEMNITY INSURANCE COMPANY

                     EXCESS CATASTROPHE REINSURANCE PROGRAM

                              2002 SUMMARY OF TERMS

        Estimated Subject Earned Premium: January 1 - December 31, 2002:
                                  $91,400,000

<Table>
<Caption>

                                                PERCENT                        100%             80%
LAYER            LIMIT AND RETENTION            PLACED         RATE           DEPOSIT         MINIMUM          ROL
-----            -------------------            ------         ----           -------         -------          ---
<S>          <C>                            <C>             <C>            <C>            <C>              <C>

Fourth          95% of $15,000,000 xs           100.00%        2.027%        $1,852,500      $1,482,000       13.0%
                     $15,000,000
                   (per occurrence)
Fifth           95% of $30,000,000 xs           100.00%        2.525%        $2,308,500      $1,846,800        8.1%
                     $30,000,000
                   (per occurrence)
Sixth           95% of $40,000,000 xs           100.00%        1.746%        $1,596,000      $1,276,800        4.2%
                     $60,000,000
                   (per occurrence)

</Table>

NOTES:

1.       Term contract effective January 1 through December 31, 2002, both days
         inclusive.

2.       Reinstatement: each layer, one reinstatement at 100% as to time, pro
         rata as to amount.

3.       Deposit premiums payable in quarterly installments January 1, April 1,
         July 1 and October 1 of 2002.

4.       Ultimate net loss includes loss adjustment expense.

5.       Fourth & Fifth layers only, 80% of extra contractual obligations and
         excess of policy limits included as part of ultimate net loss, not to
         exceed 25% of ultimate net loss. Sixth Layer only, extra contractual
         obligations and excess of policy limits excluded.

6.       Company will retain 5% net and unreinsured elsewhere.

<Table>
<Caption>

REINSURERS:                                                        FOURTH LAYER           FIFTH LAYER          SIXTH LAYER
-----------                                                        ------------           -----------          -----------
<S>                                                             <C>                     <C>                  <C>

ACE Tempest Re                                                        17.50%                 15.00%                5.00%
American Agricultural Insurance Company                                2.50%                  2.50%                2.50%
American Re - Brokers                                                  0.00%                  0.00%                4.00%
Danish Re UW Agencies/Danish Re Syn 1400                               0.00%                  0.00%                3.00%
Folksamerica Reinsurance Company                                       1.00%                  1.00%                4.00%
Hannover Ruckversicherungs                                             5.00%                 10.00%               10.00%
HartRe Co. LLC/Hartford Fire Insurance Co.                             5.00%                  5.00%                7.50%
Odyssey America Reinsurance Company                                    2.50%                  5.00%                3.50%

</Table>

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[LOGO OF BENFIELD BLANCH]                                                 Page 1

*Reinsurance contracts reflecting the binding terms discussed in this terms
sheet will be prepared in the near

<Page>

Ex.10.44
--------------------------------------------------------------------------------

<Table>

<S>                                                             <C>                     <C>                  <C>

Partner Re                                                             8.50%                  6.00%                5.00%
Sirius International Insurance Corp.                                   2.00%                  2.00%                2.00%
SPS Reassurance                                                        2.00%                  2.00%                2.00%
St. Paul Re/St. Paul Fire and Marine Ins. Co.                          9.00%                  5.00%                0.00%
Swiss Re Underwriting Agency/Swiss Re America                          0.00%                  4.00%                4.00%
X.L. Re Ltd.                                                           5.00%                  5.00%                5.00%
Underwriting Members of Lloyd's London                                40.00%                 37.50%               42.50%
       through Benfield Greig                                         ------                 ------               ------
TOTAL                                                                 100.0%                 100.0%               100.0%

</Table>

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[LOGO OF BENFIELD BLANCH]                                                 Page 2

*A reinsurance contract reflecting the binding terms discussed in this terms
sheet will be prepared in the near future by our reinsurers in accordance with
industry practice.<Page>

                                                                   Exhibit 10.45

Ex10.45
--------------------------------------------------------------------------------

                            SAFETY INSURANCE COMPANY
                       SAFETY INDEMNITY INSURANCE COMPANY

                PROPERTY RISK EXCESS OF LOSS REINSURANCE PROGRAM

                              2002 SUMMARY OF TERMS

        Estimated Subject Earned Premium: January 1 - December 31, 2002:
                                  $38,900,000

<Table>
<Caption>

                                                                 PERCENT                        100%            100%
LAYER                    LIMIT AND RETENTION                     PLACED          RATE          DEPOSIT        MINIMUM
-----                    -------------------                     ------          ----          -------        -------
<S>               <C>                                         <C>            <C>            <C>            <C>

First                 $1,500,000 xs $1,000,000 per risk          100.00%        0.280%        $108,920       $108,920
                        ($3,000,000 occurrence limit)

Second                 $2,500,000 xs $2,500,000 per risk         100.00%        0.210%         $81,690        $81,690
                        ($5,000,000 occurrence limit)

Third                 $5,000,000 xs $5,000,000 per risk          100.00%        0.257%        $100,000       $100,000
                       ($10,000,000 occurrence limit)

</Table>

NOTES:

1.       Continuous contract effective January 1, 2001, subject to ninety days
         notice at any December 31 anniversary thereafter.

2.       Reinstatements: First and Second layer, two reinstatements at 100% as
         to time, pro rata as to amount. Third Layer, one reinstatement at 100%
         as to time, pro rata as to amount.

3.       Deposit premiums payable in quarterly installments January 1, April 1,
         July 1 and October 1 of each contract year.

4.       Ultimate net loss includes loss adjustment expense, 90% extra
         contractual obligations and 90% excess of policy limits.

REINSURERS:

<Table>
<Caption>

                                                            FIRST LAYER          SECOND LAYER           THIRD LAYER
                                                            -----------          ------------           -----------
<S>                                                     <C>                   <C>                    <C>

Hannover Ruck                                                  7.50%                10.00%                10.00%
Underwriting Members of Lloyd's London
       through Blanch Crawley Warren, Ltd.                    92.50%                90.00%                90.00%
                                                              ------                ------                ------
TOTAL                                                         100.00%               100.00%               100.00%

</Table>

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[LOGO OF BENFIELD BLANCH]                                                 Page 1

*A reinsurance contract reflecting the binding terms discussed in this terms
sheet will be prepared in the near future by our reinsurers in accordance with
industry practice.

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