Pma Capital (PMACA) 10-K 2008 FY Annual report

Exhibit 2.4

December 12, 2008

William E, Hitselberger

Executive Vice President, Chief Financial Officer

PMA Capital Corporation

380 Sentry Parkway

Blue Bell, Pennsylvania 19422

Dear Mr. Hitselberger:

Reference is hereby made to that certain Stock Purchase Agreement, dated as of March 28, 2008, between Armour Reinsurance Group Limited ("Armour Re**) and PMA Capital Corporation ("PMA"), as amended by that certain Letter Agreement, dated as of September 11, 2008, between Armour Re and PMA (as amended, modified or supplemented from time to time, the "Purchase Agreement"), providing for the sale by PMA to Armour Re of the Shares (as defined in the Purchase Agreement), which represent ownership interests in certain of PMA's subsidiaries. Capitalized terms used and not otherwise defined herein shall have the meanings ascribed to them in the Purchase Agreement.

The undersigned, being all of the parties to the Purchase Agreement, hereby agree to amend and restate Section 11.1.4 of the Purchase Agreement in its entirety as follows:

by either party, if the Closing has not occurred prior to March 31, 2009 or such later date as the parties may mutually agree; provided that no party may terminate this Agreement if the Closing has not occurred by reason of, or as a result of, such party's failure to take any action required to fulfill any of its obligations hereunder.

Except as expressly amended hereby, the Purchase Agreement, as amended by this letter agreement, shall continue to be and shall remain in full force and effect in accordance with its terms. This letter agreement shall not constitute an amendment or waiver of any provision of the Purchase Agreement except as expressly set forth herein. In the event of any inconsistency between this letter agreement and the Purchase Agreement, with respect to matters set forth herein, this letter agreement shall take precedence.

This letter agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania applicable to agreements made and to be performed entirely within such Commonwealth without giving effect to the conflicts of law principles of such Commonwealth.

This letter agreement may be executed in any number of counterparts, and by the parties on separate counterparts. Each counterpart shall constitute an original of this letter agreement, hut all such counterparts shall together constitute one and the same instrument.

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If the foregoing accurately sets forth our agreement and understanding, please so indicate by countersigning and dating a copy of this letter agreement and returning it to the undersigned.  Upon such countersignature and delivery, this letter agreement shall become effective as of the date first written above.

ARMOUR REINSURANCE GROUP

LIMITED

By: /s/ Pauline Richards

Name: Pauline Richards

Title: Chief Operating Officer

Accepted and Agreed as of the date first written above:

PMA CAPITAL CORPORATION

By: /s/ William E. Hitselberger

Name: William E. Hitselberger

Title: Executive Vice President and Chief Financial

Officer

cc:	Senior Vice President and General Counsel
	PMA Capital Corporation 380 Sentry
	Parkway Blue Bell, Pennsylvania 19422
	Sean Keyvan
	Sidley Austin LLP
	One South Dearborn Street
	Chicago. Illinois 60603

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