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Prepared and filed by St Ives Financial
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<body bgcolor="#FFFFFF"> <p align="center"><b><font face="serif" size="5">UNITED STATES<br>
</font></b><b><font face="serif" size="5">SECURITIES AND EXCHANGE COMMISSION<br>
</font></b><font face="serif" size="3">WASHINGTON, D.C. 20549 </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>
<p align="center"><font size="2" face="serif">December 22, 2005<br>
</font><font size="2" face="serif">Date of Report (Date of earliest event reported) </font></p>
<p align="center"><b><font face="serif" size="5">PXRE GROUP LTD. </font></b></p>
<p align="center"><font size="2" face="serif">(Exact name of registrant as specified in its charter) </font></p>
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    <td width="33%"><font size="2" face="serif"><b>Bermuda</b></font></td>
    <td width="33%"><b><font size="2" face="serif">1-15259</font></b></td>
    <td><b><font size="2" face="serif">98-0214719</font></b></td>
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    <td><font size="2" face="serif">(State or other jurisdiction<br>
      of incorporation or organization)      <br>
    </font></td>
    <td><font size="2" face="serif">(Commission<br>
    File No.)    </font></td>
    <td><font size="2" face="serif">(I.R.S. Employer<br>
    Identification No.)    </font></td>
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    <td>&nbsp;</td>
    <td>&nbsp;</td>
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    <td width="20%">&nbsp;</td>
    <td width="40%"><font size="2" face="serif"><b>PXRE House<br>
    110 Pitts Bay Road <br>
    Pembroke HM 08<br>
    Bermuda</b><br>
    (Address, including zip
code,<br>
of principal executive offices)    </font></td>
    <td width="40%"><font size="2" face="serif"><b>P.O. Box HM 1282<br>
    Hamilton HM FX <br>
    Bermuda</b><br>
    (Mailing address)    </font></td>
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<p align="center"><font face="serif" size="2"><b>(441) 296-5858</b><br>(Registrant's telephone number, including area code)</font></p>
<p align="center"><font face="serif" size="2"><b>NOT APPLICABLE</b><br>(Former Name or Former Address, if Changed Since Last Report)</font></p>
<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 align="left"><font size="2" face="serif"><img src="emptybox.gif">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </font></p>
<p align="left"><font size="2" face="serif"><img src="emptybox.gif">Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </font></p>
<p align="left"><font size="2" face="serif"><img src="emptybox.gif">Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b)) </font></p>
<font size="2" face="serif"><img src="emptybox.gif">Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </font>
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<p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<p align="left"><font size="2" face="serif"><b>Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.</b></font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On December 22, 2005, PXRE Group Ltd. (&#8220;PXRE&#8221;) announced the appointment of Robert P. Myron, the Company&#8217;s Senior Vice President and Treasurer, as Executive Vice President, Chief Financial Officer and Treasurer of the Company.  Mr. Myron replaces John Modin who resigned as Executive Vice President and Chief Financial Officer of the Company to pursue other opportunities, effective January 6, 2006.  </font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A copy of the press release relating to the resignation is attached as Exhibit 99 hereto.   The information included herein, including the exhibit described below, shall not be deemed &#8220;filed&#8221; hereunder for purposes of Section&nbsp;18 of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), or incorporated by reference in any filing under the Securities Exchange Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.</font></p>
<p align="left"><font size="2" face="serif"><b>Item 9.01.Financial Statements and Exhibits.</b></font></p>
<p align="left"><font size="2" face="serif">(d) Exhibits</font></p>
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<font size="2" face="serif">99.1</font></td>
<td>
<font size="2" face="serif">Press Release of PXRE Group Ltd., dated December 22, 2005, regarding the resignation of Mr. Modin.</font></td>
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<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>
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    <td align="center"><font size="2" face="serif"><b><u>PXRE Group Ltd. <br>
    </u></b>(Registrant) <b><u>    </u></b></font></td>
    <td width="30%">&nbsp;</td>
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    <td>&nbsp;</td>
    <td>&nbsp;</td>
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    <td>&nbsp;</td>
    <td><font size="2" face="serif"><i>By: <u>/s/ Robert P. Myron</u></i></font></td>
    <td>&nbsp;</td>
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    <td>&nbsp;</td>
    <td><font size="2" face="serif"><i>Name: Robert P. Myron</i></font></td>
    <td>&nbsp;</td>
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    <td>&nbsp;</td>
    <td><font size="2" face="serif"><i>Title: CFO &amp; Executive Vice President</i></font></td>
    <td>&nbsp;</td>
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    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
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<p align="left">&nbsp;</p>
<p align="left"><font size="2" face="serif">Date: December 22, 2005 </font></p>
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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
December 22, 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
(Address, including zip
code,
of principal executive offices)
P.O. Box HM 1282
Hamilton HM FX
Bermuda
(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))
Back to Contents
Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
On December 22, 2005, PXRE Group Ltd. ("PXRE") announced the appointment of Robert P. Myron, the Company's Senior Vice President and Treasurer, as Executive Vice President, Chief Financial Officer and Treasurer of the Company.  Mr. Myron replaces John Modin who resigned as Executive Vice President and Chief Financial Officer of the Company to pursue other opportunities, effective January 6, 2006.
A copy of the press release relating to the resignation is attached as Exhibit 99 hereto.   The information included herein, including the exhibit described below, shall not be deemed "filed" hereunder for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Exchange Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01.Financial Statements and Exhibits.
(d) Exhibits
99.1
Press Release of PXRE Group Ltd., dated December 22, 2005, regarding the resignation of Mr. Modin.
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 P. Myron
Name: Robert P. Myron
Title: CFO & Executive Vice President
Date: December 22, 2005