Document:

<PAGE>

                                   ADDENDUM I

                                       TO

                   AGGREGATE LOSS RATIO REINSURANCE AGREEMENT

                                     BETWEEN

                    NATIONAL UNION FIRE INSURANCE COMPANY OF
                                 PITTSBURGH, PA
                      (HEREINAFTER CALLED THE "REINSURER")

                                       AND

                        GRANITE REINSURANCE COMPANY, LTD.
                   (HEREINAFTER CALLED THE "RETROCESSIONAIRE")

.................................................................................

It is understood and agreed that addendums number 1 & 2 to the Underlying
Agreements, copies attached hereto, are accepted as part of the Underlying
Agreements.

All other terms and conditions remain unchanged.

IN WITNESS WHEREOF: the parties hereto have caused this Agreement to be executed
by their Authorized representatives.

In:                              this             day of                2000
   ------------------------------    -------------      ----------------

                    NATIONAL UNION FIRE INSURANCE COMPANY OF
                    ----------------------------------------
                                 PITTSBURGH, PA

By:
   -------------------------------

Title:
      ------------------------------

AND IN                            THIS             DAY OF                 2000
      ----------------------------    -------------      -----------------

                                    GRANITE REINSURANCE COMPANY, LTD.

By:
   --------------------------------

Title:
      -------------------------------

                                       56<PAGE>

                                 ADDENDUM NO. 2

                                       TO

                        QUOTA SHARE REINSURANCE AGREEMENT
                           EFFECTIVE JANUARY 1ST 2000

                                     BETWEEN

                 SUPERIOR INSURANCE COMPANY AND ITS WHOLLY-OWNED
                             INSURANCE SUBSIDIARIES

                                       AND

                    NATIONAL UNION FIRE INSURANCE COMPANY OF
                                 PITTSBURGH, PA.
                        (HERAFTER CALLED THE "REINSURER")

.................................................................................

It is understood and agreed that effective December 30, 2000 the following
articles are amended to read as follows.

ARTICLE II                        TERM AND TERMINATION
----------                        --------------------

This Agreement commences at 12:01 a.m. Eastern Standard Time, January 1, 2000
and shall remain in force until 11:59 p.m. Eastern Standard Time, December 31,
2001. Either party may terminate effective on the first day of any calendar
quarter with 60 days advance written notice. The Reinsurer shall remain liable
for loss under reinsured policies effective prior to the termination date.

ARTICLE IV                        QUOTA SHARE PARTICIPATION AND LIMIT
----------                        -----------------------------------

The aggregate quota share cession shall be at the option of the Company and
subject to a maximum of 75%. However, the maximum cession will be limited to
$70,000,000 for the calendar year 2001. In the event this produces more than
$70,000,000 for the calendar year, the dollar amount of cessions shall be
reduced to $70,000,000. The quota share percent applicable for the Company shall
be the ratio of the adjusted dollar cession to the gross subject written premium
for the Company for that year. This limit can be increased by mutual agreement
between the Reinsurer and the Company. The Company shall notify the Reinsurer
prior to the last day of the calendar quarter of the quota share percent for
that quarter. It is agreed that the cession for any one quarter shall not exceed
40% of the total cession for the calendar year. In the event the declared
percent cession for a calendar quarter produces premiums in excess of 40% of the
premium ceded for the calendar year the cession for that quarter shall be
adjusted to the dollar amount that would equal 40% of the premium ceded for the
year.

The Reinsurer's liability for aggregate losses, including allocated loss
adjustment expenses (and unallocated loss adjustment expenses where applicable
under REPORTS AND ACOCUNTING), shall be limited to 97% of earned premium ceded
for all business from the inception date of this agreement and the calculation
shall be from inception to the calculation date.

All other terms and conditions remain unchanged.

IN WITNESS WHEREOF: the parties hereto have caused this Agreement to be executed
by their Authorized representatives.

                                       57
<PAGE>

In:                                this             day of                 2000
   --------------------------------    -------------       ----------------

             NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH, PA

By:
   ---------------------------

Title:
      --------------------------

And in                              this              day of                2000
      ------------------------------     -------------      ----------------

                           SUPERIOR INSURANCE COMPANY

By:
   ----------------------------

Title:
      ---------------------------

                                       58<PAGE>

                                 ADDENDUM NO. 2

                                       TO

                        QUOTA SHARE REINSURANCE AGREEMENT
                           EFFECTIVE JANUARY 1ST 2000

                                     BETWEEN

                         PAFCO GENERAL INSURANCE COMPANY
                         -------------------------------
                       (HEREINAFTER CALLED THE "COMPANY")

                                       AND

                    NATIONAL UNION FIRE INSURANCE COMPANY OF
                                 PITTSBURGH, PA.
                      (HEREINAFTER CALLED THE "REINSURER")

.................................................................................

It is understood and agreed that effective December 30, 2000 the following
articles are amended to read as follows.

ARTICLE II                     TERM AND TERMINATION
----------                     --------------------

This Agreement commences at 12:01a.m. Eastern Standard Time, January 1, 2000,
and shall remain in force until 11:59 p.m. Eastern Standard Time, December 31,
2001. Either party may terminate effective on the first day of any calendar
quarter with 60 days advance written notice. The Reinsurer shall remain liable
for loss under reinsured policies effective prior to the termination date.

ARTICLE IV                 QUOTA SHARE PARTICIPATION AND LIMIT
----------                 -----------------------------------

The aggregate quota share cession shall be at the option of the Company and
subject to a maximum of 90%. However, the maximum cession will be limited to
$30,000,000 for the calendar year 2001. In the event this produces more than
$30,000,000 for the calendar year, the dollar amount of cessions shall be
reduced to $30,000,000. The quota share percent applicable for the Company shall
be the ratio of the adjusted dollar cession to the gross subject written premium
for the Company for that year. This limit can be increased by mutual agreement
between the Reinsurer and the Company. The Company shall notify the Reinsurer
prior to the last day of the calendar quarter of the quota share percent for
that quarter. It is agreed that the cession for any one quarter shall not exceed
40% of the total cession for the calendar year. In the event the declared
percent cession for a calendar quarter produces premiums in excess of 40% of the
premium ceded for the calendar year the cession for that quarter shall be
adjusted to the dollar amount that would equal 40% of the premium ceded for the
year.

The Reinsurer's liability for aggregate losses, including allocated loss
adjustment expenses (and unallocated loss adjustment expenses where applicable
under REPORTS AND ACOCUNTING), shall be limited to 97% of earned premium ceded
for all business from the inception date of this agreement and the calculation
shall be from inception to the calculation date.

All other terms and conditions remain unchanged.

IN WITNESS WHEREOF: the parties hereto have caused this Agreement to be executed
by their Authorized representatives.

                                       59
<PAGE>

In:________________________________this_____________day of ________________2000

    NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH, PA

By:___________________________

Title:__________________________

And in______________________________this _____________day of________________2000

                           PAFCO GENERAL INSURANCE COMPANY

By:____________________________

Title:___________________________

                                       60<PAGE>

AMENDMENT TO PERSONAL EMPLOYMENT AGREEMENT with an effective date of January 1,
1996.

        BETWEEN:                                GRANITE REINSURANCE COMPANY
        -------------------------------------------------------------------
                           LTD.; A BODY POLITIC AND CORPORATE DULY INCORPORATED,
                           -----------------------------------------------------
                                                 HAVING ITS OFFICES AT
                                                 ---------------------
                                             BISHOP'S COURT HILL, ST. MICHAEL,
                                             ---------------------------------
                                                 BARBADOS, WEST INDIES;
                                                 ----------------------
                                  (hereinafter referred to as the "Company")

AND                                                           G. GORDON SYMONS,
EXECUTIVE,
                                  RESIDING AT 3 QUEEN'S COVE, APT. B6,
                                  FAIRYLANDS, PEMBROKE, BERMUDA, HM 05;
                                  (hereinafter referred to as the "Executive")

     WHEREAS the parties hereto are presently governed by a Personal Employment
Agreement with an effective date of December 31, 1991, and Amendments to the
Personal Employment Agreement dated October 1, 1992 and January 1, 1995
(collectively referred to as the "Agreements");

     AND WHEREAS the parties hereto desire to amend the terms of the Agreement
in accordance with the provisions hereof;

     NOW THEREFORE be it agreed as follows:

     2.       REMUNERATION
              ------------
              The provisions of subparagraph 5.1 of the said Personal Employment
              Agreement shall be amended by Increasing the salary from One
              Hundred Thousand Dollars ($100,000.00) per annum to One Hundred
              and Fifty Thousand Dollars ($150,000.00) per annum payable in
              equal monthly installments not in advance.

WHEREOF, THE PARTIES HAVE SIGNED HEREIN BELOW

GRANITE REINSURANCE COMPANY LTD.            EXECUTIVE

Per: ____________________________________            Per: ____________________

                                       61

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