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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 </font></b></font><br>
<b><font face="serif" size="5">SECURITIES AND EXCHANGE COMMISSION </font></b><br>
<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">November 9, 2005</font><br>
<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>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr align="center" valign="bottom">
    <td width="33%"><font size="2" face="serif">Bermuda</font></td>
    <td width="33%"><font size="2" face="serif">1-15259</font></td>
    <td><font size="2" face="serif">98-0214719</font></td>
  </tr>
  <tr align="center" valign="bottom">
    <td><font size="2" face="serif">(State or other jurisdiction<br>
    of incorporation or organization)    </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>
  </tr>
</table>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr align="left" valign="top">
    <td width="20%">&nbsp;</td>
    <td width="50%"><font size="2" face="serif">PXRE House <br>
      110 Pitts Bay Road <br>
    Pembroke HM 08<br>
    Bermuda <br>
    (Address, including zip code,<br>
    of principal executive offices)</font></td>
    <td><font size="2" face="serif">P.O. Box HM 1282<br>
      Hamilton HM FX<br>
    Bermuda <br>
    <br>
    <br>
(Mailing address)</font></td>
  </tr>
</table>
<p align="center"><font size="2" face="serif">(441) 296-5858</font><br>
<font size="2" face="serif">              (Registrant's telephone number, including area code)</font></p>
<p align="center"><font size="2" face="serif">NOT APPLICABLE </font><br>
<font size="2" face="serif">(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>
<p align="left"><font size="2" face="serif"><img src="emptybox.gif" width="12" height="12"> 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" width="12" height="12"> 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" width="12" height="12"> 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" width="12" height="12">  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </font></p>
<p align="center">&nbsp;</p>
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<a name="p?"></a>
<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 November 9, 2005, PXRE Group Ltd. (&#8220;PXRE&#8221;) issued a press release discussing its preliminary estimate of losses from Hurricane Wilma.  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 &#8220;filed&#8221; 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 that are
    not strictly historical are forward-looking and are based upon current expectations
    and assumptions of management. Statements included herein, 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
&quot;expects&quot; or variations of such words or similar expressions are based
on current expectations, speak only as of the date thereof, and are subject to
risk and uncertainties. In light of the risks and uncertainties inherent in all
future projections, the forward-looking statements in this report should not
be considered as a representation by us or any other person that the Company's
objectives or plans will be achieved. The Company 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) the Company 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 the Company'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, which uncertainties are particularly acute in the
wake of Hurricane Katrina; (vii) a decline in the credit rating assigned to the
Company's claim-paying ability may impact its potential to write new or renewal
business; (viii) a decline in the Company'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) the Company'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 the Company's reliance on reinsurance brokers exposes
us to their credit risk; (xi) the Company has exited the finite reinsurance business,
but claims in respect of the business the Company wrote could have an adverse
effect on its results of operations; (xii) the Company may be adversely affected
by foreign currency fluctuations; (xiii) retrocessional reinsurance subjects
us to credit risk and may become unavailable on acceptable terms; (xiv) the impairment
of the Company's ability to provide collateral to cedents could affect its ability
to offer reinsurance in certain markets; (xv) the reinsurance business is historically
cyclical, and the Company 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; (xvi) regulatory constraints may restrict
the Company's ability to operate its business; (xvii) contention by the United
States Internal Revenue Service that the Company or its offshore subsidiaries
are subject to U.S. taxation could result in a material adverse impact on the
Company's financial position or results; and (xviii) changes in tax laws, tax
treaties, tax rules and interpretations could result in a material adverse impact
on the Company'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.</font></p>
<p align="left"><font size="2" face="serif"><b>Item 9.01. Financial Statements and Exhibits </b></font></p>
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<td width="3%"><font size="2" face="serif">&nbsp;</font></td>
<td width="3%"><font size="2" face="serif">&nbsp;(c)</font></td>
<td align="left"><font size="2" face="serif">  Exhibits</font></td>
</tr>
</table>

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    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
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    <td>&nbsp;</td>
    <td><font size="2" face="serif">Exhibit No.</font></td>
    <td><font size="2" face="serif">Description</font></td>
  </tr>
  <tr valign="top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr valign="top">
<td width="3%">
<font size="2" face="serif">&nbsp;</font></td>
<td width="10%">
<font size="2" face="serif">99.1</font></td>
<td>
<font size="2" face="serif">PXRE Group Ltd. Press Release dated as of November 9, 2005</font></td>
</tr>
</table>
<p>&nbsp;</p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page> <a name="p?"></a>
<p>&nbsp;</p>
<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>
<p align="center">&nbsp;</p>
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  <tr>
    <td width="33%">&nbsp;</td>
    <td width="4%">&nbsp;</td>
    <td width="33%"><p align="center"><font size="2" face="serif"><b><u>PXRE
              Group Ltd. </u></b></font><br>
<font size="2" face="serif">(Registrant) </font></p></td>
    <td><p align="center">&nbsp;</p>
    </td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
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  <tr>
    <td>&nbsp;</td>
    <td><font size="2" face="serif"><i>By: </i></font></td>
    <td><font size="2" face="serif"><i>/s/ Robert Myron</i></font></td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2"><hr size="1" noshade>
    </td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2"><font size="2" face="serif"><i>Name: Robert Myron</i></font></td>
    <td>&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2"><font size="2" face="serif"><i>Title: Senior Vice President &amp; Treasurer</i></font></td>
    <td>&nbsp;</td>
  </tr>
</table>
<p align="center">&nbsp;</p>
<p align="left"><font size="2" face="serif"></font></p>
<p align="left"><font size="2" face="serif">Date: November 9, 2005 </font></p>
<p align="center">&nbsp;</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
November 9, 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))
Item 7.01.  Regulation FD Disclosure
On November 9, 2005, PXRE Group Ltd. ("PXRE") issued a press release discussing its preliminary estimate of losses from Hurricane Wilma.  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 that are
    not strictly historical are forward-looking and are based upon current expectations
    and assumptions of management. Statements included herein, 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 thereof, and are subject to
risk and uncertainties. In light of the risks and uncertainties inherent in all
future projections, the forward-looking statements in this report should not
be considered as a representation by us or any other person that the Company's
objectives or plans will be achieved. The Company 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) the Company 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 the Company'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, which uncertainties are particularly acute in the
wake of Hurricane Katrina; (vii) a decline in the credit rating assigned to the
Company's claim-paying ability may impact its potential to write new or renewal
business; (viii) a decline in the Company'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) the Company'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 the Company's reliance on reinsurance brokers exposes
us to their credit risk; (xi) the Company has exited the finite reinsurance business,
but claims in respect of the business the Company wrote could have an adverse
effect on its results of operations; (xii) the Company may be adversely affected
by foreign currency fluctuations; (xiii) retrocessional reinsurance subjects
us to credit risk and may become unavailable on acceptable terms; (xiv) the impairment
of the Company's ability to provide collateral to cedents could affect its ability
to offer reinsurance in certain markets; (xv) the reinsurance business is historically
cyclical, and the Company 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; (xvi) regulatory constraints may restrict
the Company's ability to operate its business; (xvii) contention by the United
States Internal Revenue Service that the Company or its offshore subsidiaries
are subject to U.S. taxation could result in a material adverse impact on the
Company's financial position or results; and (xviii) changes in tax laws, tax
treaties, tax rules and interpretations could result in a material adverse impact
on the Company'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 November 9, 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: November 9, 2005