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Prepared and filed by St Ives Financial
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<p align="center"><font size="2" face="serif"><b><font face="serif" size="5">UNITED STATES<br>SECURITIES AND EXCHANGE COMMISSION<br></font></b><font face="serif" size="3">WASHINGTON, D.C. 20549 </font></font></p>
<p align="center"><b><font face="serif" size="5">FORM 8-K </font></b></p>
<p align="center"><font size="2" face="serif"><b>CURRENT REPORT</b></font></p>
<p align="center"><font size="2" face="serif"><b>PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</b></font></p>
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    <td align="center" valign="bottom"><font size="2" face="serif">September 11, 2005</font></td>
    <td>&nbsp;</td>
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    <td width="25%">&nbsp;</td>
    <td align="center"><font size="2" face="serif">Date of Report (Date of earliest event reported)</font></td>
    <td width="25%">&nbsp;</td>
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    <td>&nbsp;</td>
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    <td>&nbsp;</td>
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    <td>&nbsp;</td>
    <td align="center"><b><font face="serif" size="5">PXRE GROUP LTD.</font></b></td>
    <td>&nbsp;</td>
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    <td>&nbsp;</td>
    <td align="center"><hr size="1" noshade>
    </td>
    <td>&nbsp;</td>
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    <td>&nbsp;</td>
    <td align="center"><font size="2" face="serif">(Exact name of registrant
    as specified in its charter)</font></td>
    <td>&nbsp;</td>
  </tr>
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    <td>&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td>&nbsp;</td>
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<td width="32%" align="center"><font size="2" face="serif">Bermuda</font></td>
<td width="2%" align="left">&nbsp;</td>
<td width="32%" align="center"><font size="2" face="serif">1-15259</font></td>
<td width="2%" align="left">&nbsp;</td>
<td width="32%" align="center"><font size="2" face="serif">98-0214719</font></td>
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  <td align="left">&nbsp;</td>
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<td width="32%" align="center"><font size="2" face="serif">(State or other jurisdiction
    of<br>
    incorporation or organization)</font></td>
<td align="left">&nbsp;</td>
<td width="32%" align="center"><font size="2" face="serif">(Commission File No.)</font></td>
<td align="left">&nbsp;</td>
<td width="32%" align="center"><font size="2" face="serif">(I.R.S. Employer<br>
  Identification
    No.)</font></td>
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  <td width="4%" align="center">&nbsp;</td>
  <td width="44%" align="center">&nbsp;</td>
  <td width="4%" align="center">&nbsp;</td>
  <td width="44%" align="center">&nbsp;</td>
  <td width="4%" align="center">&nbsp;</td>
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  <td width="4%" align="center">&nbsp;</td>
  <td width="44%" align="center" valign="bottom"><font size="2" face="serif">PXRE House<br>
    110 Pitts Bay Road<br>
    Pembroke HM 08<br>
    Bermuda</font></td>
  <td width="4%" align="center" valign="bottom">&nbsp;</td>
<td width="44%" align="center" valign="bottom"><font size="2" face="serif">P.O. Box HM 1282<br>Hamilton HM FX<br>Bermuda</font></td>
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  <td width="4%" align="center">&nbsp;</td>
  <td width="44%" align="center"><font size="2" face="serif">(Address, including zip code,
      of principal executive offices)</font></td>
  <td width="4%" align="center">&nbsp;</td>
<td width="44%" align="center"><font size="2" face="serif">(Mailing address)</font></td>
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<td align="center" valign="bottom"><font size="2" face="serif">(441) 296-5858</font></td>
<td align="left" width="25%">&nbsp;</td> </tr>
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<td align="center"><font size="2" face="serif">(Registrant&#146;s telephone number, including area code)</font></td>
<td width="25%" align="left">&nbsp;</td>
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<td align="center" valign="bottom"><font size="2" face="serif">NOT APPLICABLE </font></td>
<td width="25%" align="center" valign="bottom">&nbsp;</td>
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  <td width="25%" align="center">&nbsp;</td>
<td align="center"><font size="2" face="serif">(Former Name or Former Address, if Changed Since Last Report) </font></td>
<td width="25%" align="center">&nbsp;</td>
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</table>
<p align="left"><font size="2" face="serif">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):</font></p>  <table width="100%" border="0" align="center" cellpadding="0" cellspacing="0">
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<td align="left" width="3%"><font size="2" face="serif"><img src="emptybox.gif"></font></td>
<td align="left"><font size="2" face="serif">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></td>
</tr>
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<td width="3%">&nbsp;</td>
<td>&nbsp;</td> </tr>
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<td width="3%" align="left"><font size="2" face="serif"><img src="emptybox.gif"></font></td>
<td align="left"><font size="2" face="serif">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></td>
</tr>
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<td width="3%" align="left"><font size="2" face="serif"><img src="emptybox.gif"></font></td>
<td align="left"><font size="2" face="serif">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></td>
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<td>&nbsp;</td> </tr>
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<td width="3%" align="left"><font size="2" face="serif"><img src="emptybox.gif"></font></td>
<td align="left"><font size="2" face="serif">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></td>
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<p align="left"><font size="2" face="serif"><b>Item 7.01.  Regulation FD Disclosure</b></font></p>
<p align="left"><font size="2" face="serif">On September 11, 2005, PXRE Group
    Ltd. (&#147;PXRE&#148;) issued a press release commenting on the potential
    impact of Hurricane Katrina. A copy of the press release is attached as Exhibit
    99.1.</font></p>
<p align="left"><font size="2" face="serif">Note: The information in this report
    and Exhibit 99.1 attached hereto are furnished pursuant to Item 7.01 and
    shall not be deemed &#147;filed&#148; for purposes of Section 18 of the Securities
    Exchange Act of 1934 or otherwise subject to the liabilities of that section.
    Accordingly, the information in Item 7.01 of this report will not be incorporated
    by reference into any registration statement filed by PXRE under the Securities
    Act of 1933, as amended, unless specifically identified therein as being
    incorporated therein by reference. The furnishing of the information in this
    report is not intended to, and does not, constitute a determination or admission
    by PXRE that the information in this report is material or complete, or that
    investors should consider this information before making an investment decision
    with respect to any security of PXRE or any of its affiliates.</font></p>
<p align="left"><font size="2" face="serif"><b>Forward-Looking Statements and Qualifications</b></font></p>
<p align="left"><font size="2" face="serif">Statements in this release and on
    the attached Exhibit that are not strictly historical are forward-looking
    and are based upon current expectations and assumptions of management. Statements
    included herein and on the Exhibit, as well as statements made by or on behalf
    of PXRE in its communications and discussions with investors and analysts
    in the normal course of business through meetings, phone calls and conference
    calls, which are not historical in nature are intended to be, and are hereby
    identified as, &quot;forward-looking statements&quot; for purposes of the
    safe harbor provided by Section 21E of the Securities Exchange Act of 1934
    as amended. These forward-looking statements, identified by words such as &#147;intend,&#148;
&#147;believe,&#148; &#147;anticipate,&#148; or &#147;expects&#148; or variations
of such words or similar expressions are based on current expectations, speak
only as of the date hereof, and are subject to risk and uncertainties. In light
of the risks and uncertainties inherent in all future projections, these forward-looking
statements in this report should not be considered as a representation by us
or any other person that PXRE&#146;s objectives or plans will be achieved.  PXRE
cautions investors and analysts that actual results or events could differ materially
from those set forth or implied by the forward-looking statements and related
assumptions, depending on the outcome of certain important factors including,
but not limited to, the following: (i) because of exposure to
catastrophes, PXRE&#146;s financial results may vary significantly from period
to period; (ii) PXRE may be overexposed to losses in certain geographic areas
for certain types of catastrophe events; (iii) PXRE operates in a highly competitive
environment; (iv) reinsurance prices may decline, which could affect PXRE&#146;s
profitability; (v) underwriting reinsurance includes the application of judgment,
the assessment of probabilities and outcomes, and assumption of correlations,
which are subject to inherent uncertainties; (vi) reserving for losses includes
significant estimates which are also subject to inherent uncertainties; (vii)
a decline in the credit rating assigned to PXRE&#146;s claim-paying ability may
impact its potential to write new or renewal business; (viii) a decline in
PXRE&#146;s ratings may require us to transfer premiums retained by us into a
beneficiary trust or may allow clients to terminate their contract with us; (ix)
PXRE&#146;s investment portfolio is subject to market and credit risks which
could result in a material adverse impact on its financial position or results;
(x) because PXRE depends on a few reinsurance brokers for a large portion of
revenue, loss of business provided by them could adversely affect us; and PXRE&#146;s
reliance on reinsurance brokers exposes us to their credit risk; (xi) the impact
of recently announced investigations of broker fee and placement arrangements
could adversely impact PXRE&#146;s ability to write more business; (xii) PXRE
has exited the finite reinsurance business, but claims in respect of the business
PXRE wrote could have an adverse effect on its results of operations; (xiii)
PXRE may be adversely affected by foreign currency fluctuations; (xiv) retrocessional
reinsurance subjects us to credit risk and may become unavailable on acceptable
terms; (xv) the impairment of PXRE&#146;s ability to provide collateral to cedents
could affect its ability to offer reinsurance in certain markets; (xvi) the reinsurance
business is historically cyclical, and PXRE may experience periods with excess
underwriting capacity and unfavorable premium rates; conversely, PXRE may have
a shortage of underwriting capacity when premium rates are strong; (xvii) regulatory
constraints may restrict PXRE&#146;s ability to operate its business; (xviii)
contention by the United States Internal Revenue Service that PXRE or its offshore
subsidiaries are subject to U.S. taxation could result in a material adverse
impact on PXRE&#146;s financial position or results; and (xix) changes in tax
laws, tax treaties, tax rules and interpretations could result in a material
adverse impact on PXRE&#146;s financial position or results.  In addition to
the factors outlined above that are directly related to PXRE&#146;s business,
PXRE is also subject to general business risks, including, but not limited to,
adverse state, federal or foreign legislation and regulation, adverse publicity
or news coverage, changes in general economic factors, the loss of key employees
and other factors set forth in PXRE&#146;s SEC filings.  The factors listed above
should not be construed as exhaustive. Therefore, actual results or outcomes
may differ materially from what is expressed or forecasted in such forward-looking
statements.</font></p>
<div style="text-indent: 3%">
  <p align="left"><font size="2" face="serif">PXRE undertakes no obligation to
      update any forward-looking statements, whether as a result of new information,
      future events (including catastrophe events), or otherwise.</font></p>
</div>
<p align="left"><font size="2" face="serif"><b>Item 9.01. Financial Statements and Exhibits</b></font></p>  <table width="100%" cellspacing="0" cellpadding="0" border="0">
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<td align="left" width="3%"><font size="2" face="serif">&nbsp;</font></td>
<td align="left" width="9%"><font size="2" face="serif">(c)</font></td>
<td align="left"><font size="2" face="serif">Exhibits</font></td>
</tr>
</table>
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  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
</tr>
<tr valign="top">
<td align="left" width="3%"><font size="2" face="serif">&nbsp;</font></td>
<td align="left" width="7%"><font size="2" face="serif">Exhibit No.</font></td>
<td align="left" width="2%">&nbsp;</td>
<td align="left"><font size="2" face="serif">Description</font></td>
</tr>
<tr valign="top" bgcolor="#ffffff">
  <td align="left">&nbsp;</td>
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    </td>
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<td width="3%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td width="7%" align="left"><font size="2" face="serif">99.1</font></td>
<td width="2%" align="left">&nbsp;</td>
<td align="left"><font size="2" face="serif">PXRE Group Ltd. Press Release dated as of September 11, 2005</font></td>
</tr>
</table>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<p align="center"><font size="2" face="serif"><b>SIGNATURES</b></font></p>
<p align="left"><font size="2" face="serif">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</font></p>  <table width="100%" cellspacing="0" cellpadding="0" border="0">
<tr valign="top">
<td align="left" width="47%"><font size="2" face="serif">&nbsp;</font></td>
<td align="left" width="6%"><font size="2" face="serif">&nbsp;</font></td>
<td align="center"><u><font size="2" face="serif"><b>PXRE Group Ltd.</b></font></u></td>
</tr>
<tr valign="top">
<td width="47%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td width="6%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="center"><font size="2" face="serif">(Registrant) </font></td>
</tr>
<tr valign="top">
<td width="47%">&nbsp;</td>
<td width="6%">&nbsp;</td>
<td>&nbsp;</td> </tr>
<tr valign="top">
<td width="47%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td width="6%" align="left"><font size="2" face="serif"><i>By:</i></font></td>
<td align="left"><font size="2" face="serif"><i>/s/ Robert Myron</i></font></td>
</tr>
<tr valign="top">
<td width="47%">&nbsp;</td>
<td width="6%">&nbsp;</td>
<td><hr size="1" noshade>
  </td> </tr>
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<td width="47%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td width="6%" align="left"><font size="2" face="serif"><i>Name:</i></font></td>
<td align="left"><font size="2" face="serif"><i>Robert Myron</i></font></td>
</tr>
<tr valign="top">
<td width="47%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td width="6%" align="left"><font size="2" face="serif"><i>Title:</i></font></td>
<td align="left"><font size="2" face="serif"><i>Senior Vice President &amp; Treasurer</i></font></td>
</tr>
</table>
<p align="left"><font size="2" face="serif">Date: September 11, 2005</font></p>
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{"company-data": {"conformed-name": "PXRE GROUP LTD", "cik": "0001091748", "assigned-sic": "6361", "irs-number": "980214719", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-15259", "film-number": "051078962"}, "business-address": {"street1": "PXRE HOUSE", "street2": "110 PITTS BAY ROAD", "city": "PEMBROKE", "state": "D0", "zip": "HM 08", "phone": "4412965858"}, "mail-address": {"street1": "P O BOX HM 1282", "city": "HAMILTON BERMUDA", "state": "D0", "zip": "HM FX"}}
Prepared and filed by St Ives Financial
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
September 11, 2005
Date of Report (Date of earliest event reported)
PXRE GROUP LTD.
(Exact name of registrant
    as specified in its charter)
Bermuda
1-15259
98-0214719
(State or other jurisdiction
    of
incorporation or organization)
(Commission File No.)
(I.R.S. Employer
Identification
    No.)
PXRE House
110 Pitts Bay Road
Pembroke HM 08
Bermuda
P.O. Box HM 1282
Hamilton HM FX
Bermuda
(Address, including zip code,
      of principal executive offices)
(Mailing address)
(441) 296-5858
(Registrant's telephone number, including area code)
NOT APPLICABLE
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 7.01.  Regulation FD Disclosure
On September 11, 2005, PXRE Group
    Ltd. ("PXRE") issued a press release commenting on the potential
    impact of Hurricane Katrina. A copy of the press release is attached as Exhibit
    99.1.
Note: The information in this report
    and Exhibit 99.1 attached hereto are furnished pursuant to Item 7.01 and
    shall not be deemed "filed" for purposes of Section 18 of the Securities
    Exchange Act of 1934 or otherwise subject to the liabilities of that section.
    Accordingly, the information in Item 7.01 of this report will not be incorporated
    by reference into any registration statement filed by PXRE under the Securities
    Act of 1933, as amended, unless specifically identified therein as being
    incorporated therein by reference. The furnishing of the information in this
    report is not intended to, and does not, constitute a determination or admission
    by PXRE that the information in this report is material or complete, or that
    investors should consider this information before making an investment decision
    with respect to any security of PXRE or any of its affiliates.
Forward-Looking Statements and Qualifications
Statements in this release and on
    the attached Exhibit that are not strictly historical are forward-looking
    and are based upon current expectations and assumptions of management. Statements
    included herein and on the Exhibit, as well as statements made by or on behalf
    of PXRE in its communications and discussions with investors and analysts
    in the normal course of business through meetings, phone calls and conference
    calls, which are not historical in nature are intended to be, and are hereby
    identified as, "forward-looking statements" for purposes of the
    safe harbor provided by Section 21E of the Securities Exchange Act of 1934
    as amended. These forward-looking statements, identified by words such as "intend,"
"believe," "anticipate," or "expects" or variations
of such words or similar expressions are based on current expectations, speak
only as of the date hereof, and are subject to risk and uncertainties. In light
of the risks and uncertainties inherent in all future projections, these forward-looking
statements in this report should not be considered as a representation by us
or any other person that PXRE's objectives or plans will be achieved.  PXRE
cautions investors and analysts that actual results or events could differ materially
from those set forth or implied by the forward-looking statements and related
assumptions, depending on the outcome of certain important factors including,
but not limited to, the following: (i) because of exposure to
catastrophes, PXRE's financial results may vary significantly from period
to period; (ii) PXRE may be overexposed to losses in certain geographic areas
for certain types of catastrophe events; (iii) PXRE operates in a highly competitive
environment; (iv) reinsurance prices may decline, which could affect PXRE's
profitability; (v) underwriting reinsurance includes the application of judgment,
the assessment of probabilities and outcomes, and assumption of correlations,
which are subject to inherent uncertainties; (vi) reserving for losses includes
significant estimates which are also subject to inherent uncertainties; (vii)
a decline in the credit rating assigned to PXRE's claim-paying ability may
impact its potential to write new or renewal business; (viii) a decline in
PXRE's ratings may require us to transfer premiums retained by us into a
beneficiary trust or may allow clients to terminate their contract with us; (ix)
PXRE's investment portfolio is subject to market and credit risks which
could result in a material adverse impact on its financial position or results;
(x) because PXRE depends on a few reinsurance brokers for a large portion of
revenue, loss of business provided by them could adversely affect us; and PXRE's
reliance on reinsurance brokers exposes us to their credit risk; (xi) the impact
of recently announced investigations of broker fee and placement arrangements
could adversely impact PXRE's ability to write more business; (xii) PXRE
has exited the finite reinsurance business, but claims in respect of the business
PXRE wrote could have an adverse effect on its results of operations; (xiii)
PXRE may be adversely affected by foreign currency fluctuations; (xiv) retrocessional
reinsurance subjects us to credit risk and may become unavailable on acceptable
terms; (xv) the impairment of PXRE's ability to provide collateral to cedents
could affect its ability to offer reinsurance in certain markets; (xvi) the reinsurance
business is historically cyclical, and PXRE may experience periods with excess
underwriting capacity and unfavorable premium rates; conversely, PXRE may have
a shortage of underwriting capacity when premium rates are strong; (xvii) regulatory
constraints may restrict PXRE's ability to operate its business; (xviii)
contention by the United States Internal Revenue Service that PXRE or its offshore
subsidiaries are subject to U.S. taxation could result in a material adverse
impact on PXRE's financial position or results; and (xix) changes in tax
laws, tax treaties, tax rules and interpretations could result in a material
adverse impact on PXRE's financial position or results.  In addition to
the factors outlined above that are directly related to PXRE's business,
PXRE is also subject to general business risks, including, but not limited to,
adverse state, federal or foreign legislation and regulation, adverse publicity
or news coverage, changes in general economic factors, the loss of key employees
and other factors set forth in PXRE's SEC filings.  The factors listed above
should not be construed as exhaustive. Therefore, actual results or outcomes
may differ materially from what is expressed or forecasted in such forward-looking
statements.
PXRE undertakes no obligation to
      update any forward-looking statements, whether as a result of new information,
      future events (including catastrophe events), or otherwise.
Item 9.01. Financial Statements and Exhibits
(c)
Exhibits
Exhibit No.
Description
99.1
PXRE Group Ltd. Press Release dated as of September 11, 2005
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
PXRE Group Ltd.
(Registrant)
By:
/s/ Robert Myron
Name:
Robert Myron
Title:
Senior Vice President & Treasurer
Date: September 11, 2005