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Prepared and filed by St Ives Burrups
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<p align="center"><b><font face="serif" size="4">SECURITIES AND EXCHANGE COMMISSION<br>
      <font size="2">Washington, D.C. 20549</font></font></b></p>
<p align="center"><b><font face="serif" size="4">FORM 8-K</font></b></p>
<p align="center"><b><font face="serif" size="4">CURRENT REPORT<br>
      <font size="2">Pursuant to Section 13 or 15(d) of the<br>
Securities Exchange Act of 1934</font></font></b></p>
<p align="center"><font size="2" face="serif">October 3, 2005<br>
Date of Report (Date of earliest event reported)</font></p>
<p align="center"><b><font face="serif" size="5">PXRE GROUP LTD.<br>
      <font size="2">(Exact name of registrant as specified in its charter)</font></font></b></p>
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<td><div align="center"><font size="2" face="serif"><b>Bermuda</b></font><br>
      <font size="2" face="serif">(State or Other Jurisdiction</font><br>
    <font size="2" face="serif">of Incorporation)</font></div></td>
<td width="33%"><div align="center"><font size="2" face="serif"><b>1-15259</b></font><br>
      <font size="2" face="serif">(Commission</font><br>
    <font size="2" face="serif">File Number)</font></div></td>
<td width="33%"><div align="center"><font size="2" face="serif"><b>98-0214719</b></font><br>
      <font size="2" face="serif">(IRS Employer</font><br>
    <font size="2" face="serif">Identification No.)</font></div></td>
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<td><div align="center"><font size="2" face="serif">PXRE House<br>
110 Pitts Bay Road<br>
Pembroke HM 08<br>
Bermuda<br>
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(Address, Including Zip Code,<br>
of Principal Executive Offices)</font></div></td>
<td align="left"><div align="center"><font size="2" face="serif">&nbsp;</font></div></td>
<td><div align="center"><font size="2" face="serif">P.O. Box HM 1282<br>
Hamilton HM FX<br>
Bermuda<br>
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(Mailing Address)</font></div></td>
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<td colspan="3" align="left"><div align="center"><font size="2" face="serif"><b>(441) 296-5858</b></font></div></td>
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<td colspan="3" align="center"><font size="2" face="serif">(Registrant&#146;s telephone number, including area code)</font></td>
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<td align="center"><font size="2" face="serif">(Former Name or Former Address, if Changed Since Last Report)</font></td>
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<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>
<p align="left"><font size="2" face="serif"><img src="emptybox.gif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
<p align="left"><font size="2" face="serif"><img src="emptybox.gif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
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<p align="left"><font size="2" face="serif"><b>Item 8.01.</b> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>Other Events</b></font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On October 3, 2005, PXRE Group Ltd. (the &#147;Company&#148;) entered into an Underwriting Agreement with respect to the issuance and sale by the Company, of 7,690,000 of its common shares (plus an additional 1,153,500 common shares to be issued and sold to cover over-allotments), par value $1.00 per share, of the Company (the &#147;Shares&#148;), a copy of which is attached to this Current Report on Form 8-K and filed  herewith under Item 9.01 as Exhibit 1.2.  The Shares have been registered under the Securities Act of 1933, as amended, pursuant to the Company&#146;s Registration Statement on Form S-3 (File No. 333-128354), filed by the Company with the Securities and Exchange Commission.  </font></p>
<p align="left"><font size="2" face="serif"><b>Item 9.01.</b> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>Financial Statements and Exhibits</b></font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EXHIBITS</b></font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Underwriting Agreement.<br>
<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Underwriting Agreement, dated October 3, 2005, between the<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Company and Credit Suisse First Boston LLC, as the underwriter.</font></p>
<p align="center"><font face="serif" size="2">2</font></p>
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<p align="center"><font size="2" face="serif"><b>SIGNATURES</b></font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 colspan="3"><font size="2" face="serif">PXRE Group Ltd.</font></td>
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    <td colspan="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font size="2" face="serif">(Registrant)</font></td>
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    <td><font size="2" face="serif">By:</font></td>
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    <td><font size="2" face="serif"><u>/s/ Robert Myron&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></td>
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    <td><font size="2" face="serif">Name: Robert Myron</font></td>
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    <td><font size="2" face="serif">Title: Senior Vice President and Treasurer</font></td>
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    <td><font size="2" face="serif">Date: October 7, 2005 </font></td>
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Prepared and filed by St Ives Burrups
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
October 3, 2005
Date of Report (Date of earliest event reported)
PXRE GROUP LTD.
(Exact name of registrant as specified in its charter)
Bermuda
(State or Other Jurisdiction
of Incorporation)
1-15259
(Commission
File Number)
98-0214719
(IRS 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))
Item 8.01.
Other Events
On October 3, 2005, PXRE Group Ltd. (the "Company") entered into an Underwriting Agreement with respect to the issuance and sale by the Company, of 7,690,000 of its common shares (plus an additional 1,153,500 common shares to be issued and sold to cover over-allotments), par value $1.00 per share, of the Company (the "Shares"), a copy of which is attached to this Current Report on Form 8-K and filed  herewith under Item 9.01 as Exhibit 1.2.  The Shares have been registered under the Securities Act of 1933, as amended, pursuant to the Company's Registration Statement on Form S-3 (File No. 333-128354), filed by the Company with the Securities and Exchange Commission.
Item 9.01.
Financial Statements and Exhibits
(d)     EXHIBITS
(1.2)     Underwriting Agreement.
Underwriting Agreement, dated October 3, 2005, between the
Company and Credit Suisse First Boston LLC, as the underwriter.
2
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 and Treasurer
Date: October 7, 2005