ADDENDUM NO 1 to the CASUALTY EXCESS OF LOSS REINSURANCE AGREEMENT NO. POR327454 (hereinafter referred to as the Agreement) between SAFETY INSURANCE COMPANY SAFETY INDEMNITY INSURANCE COMPANY Boston, Massachusetts (hereinafter referred to as the Company) and SWISS REINSURANCE AMERICACORPORATION Armonk, New York (hereinafter referred to as the Reinsurer)

Exhibit 10.32

ADDENDUM NO 1

to the

CASUALTY EXCESS OF LOSS
REINSURANCE AGREEMENT
NO. POR327454
(hereinafter referred to as the “Agreement”)

between

SAFETY INSURANCE COMPANY
SAFETY INDEMNITY INSURANCE COMPANY
Boston, Massachusetts
(hereinafter referred to as the “Company”)

and

SWISS REINSURANCE AMERICA CORPORATION
Armonk, New York
(hereinafter referred to as the “Reinsurer”)

It is understood and agreed that effective as of inception, January 1, 2006, Article XII - Contingent Commission is hereby deleted from this Agreement.

ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED

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IN WITNESS WHEREOF, the parties hereto have caused this Addendum to be executed in duplicate, by their duly authorized representatives as of the following dates:

In Boston this 2nd day of December 2006.

And in Armonk, New York, this 19th day of December, 2006.

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