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 reports dated February 13, 1997 appearing on pages
F-1 and F-29 of the Annual Report on Form 10-K of PXRE Corporation for the year
ended December 31, 1996.

PRICE WATERHOUSE LLP

New York, New York
July 22, 1997