EXHIBIT 23.1

                       CONSENT OF INDEPENDENT ACCOUNTANTS



We hereby consent to the incorporation by reference in this Registration
Statement on Form S-8 of our report dated February 15, 1996 appearing on page
F-1 of PXRE Corporation's Annual Report on Form 10-K for the year ended December
31, 1995.



PRICE WATERHOUSE LLP
New York, New York

May 31, 1996