Net Retention Sample Clauses
The Net Retention clause defines the amount of risk or loss that a party, typically an insurer or reinsurer, retains for its own account before any reinsurance coverage applies. In practice, this means that the party must absorb losses up to a specified monetary threshold, and only losses exceeding this amount are shared with or transferred to another insurer or reinsurer. This clause is essential for allocating risk between parties, ensuring that each retains a defined portion of liability and that reinsurance is only triggered for larger, less frequent losses.
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Net Retention. The Company shall retain, net and unreinsured, at its own risk and liability, a 10% quota share of the gross liabilities with respect to each Reinsured Contract. For the avoidance of doubt, the foregoing net retention requirement shall not apply to any annuities, insurance policies or products, or any business of the Company, to the extent not reinsured hereunder.
Net Retention. In recognition of its retention of responsibility for claims handling and reinsurance on the Covered Business as set forth herein, the Reinsured hereby covenants and agrees that the Reinsured and its Affiliates shall not reinsure and shall retain net for its own account both the twenty percent (20%) share of the Ultimate Net Loss excess of the Retention, up to the Aggregate Limit, that is not being assumed by the Reinsurer under this Reinsurance Agreement and a twenty percent (20%) share of the Ultimate Net Loss of the Additional Retention. In the event of any claim for breach hereof, the panel shall only be authorized to award economic damages to put the prevailing Party in substantially the same economic position it would have been but for the other Party’s disputed action or inaction.
Net Retention. The Ceding Company, together with its Affiliates, shall retain, net and unreinsured, at their own risk and liability, a [***] percent ([***]%) quota share of the General Account Liabilities with respect to each Reinsured Contract.
Section 1. 14. [***].
Net Retention. The Ceding Company shall retain net for its own account and unreinsured at least [Redacted] of the Net Statutory Reserves associated with each Reinsured Policy, provided that reinsurance with an Affiliate including a Protected Cell of Seneca Reinsurance Company, LLC in which the capital and surplus is contributed or otherwise supplied by an Affiliate of the Ceding Company, shall be treated as net for the Ceding Company’s own account and unreinsured for purposes of this Section 2.09.
Net Retention. (a) The Ceding Company and its Affiliates (provided that each such Affiliate is a direct or indirect wholly-owned subsidiary of the same Person that directly or indirectly wholly-owns the Ceding Company, and only for so long as such Affiliate(s) satisfies the foregoing criteria), in the aggregate, shall retain, net for their own account (and not reinsured or retroceded other than to Affiliates that satisfy the foregoing criteria applicable to Affiliates), not less than [***]% of each of the General Account Liabilities and the Separate Account Liabilities.
(b) [***].
Net Retention. The Ceding Company shall retain a [REDACTED] quota share of the risks associated with the Riders reinsured hereunder ("Minimum Retention"), net and unreinsured for its own account. Any reinsurance to an Affiliate (provided that at all times during any such reinsurance to an Affiliate, such Affiliate is wholly owned by the Ceding Company's ultimate parent and does not further reinsure any such risks) will count towards the Minimum Retention. The Ceding Company may not retain less than the Minimum Retention without the prior written consent of the Reinsurer, such consent shall not be unreasonably or arbitrarily withheld or conditioned. Upon request by the Reinsurer not more frequently than once per year, the Ceding Company shall provide a certification signed by an officer of the Ceding Company as to the Ceding Company's compliance or non-compliance with this Paragraph 29.