Reinsurance Treaty. Borrower shall have caused AH to offer, for the time period set forth in the table contained in this paragraph, to reinsure a portion of its Personal Lines Auto Quota Share Reinsurance with Lender, the form and content of such reinsurance treaty to be substantially similar to Exhibit D attached to and made a part of this Agreement, in amounts sufficient to allow for the following schedule of ceded premiums: Treaty Years Ceded Premium 07/01/97 to 06/30/98 $ 20,000,000 07/01/98 to 06/30/99 $ 21,600,000 07/01/99 to 06/30/00 $ 23,328,000 07/01/00 to 06/30/01 $ 25,194,240 07/01/01 to 06/30/02 $ 27,209,779 07/01/02 to 06/30/03 $ 29,386,562 07/01/03 to 06/30/04 $ 31,737,486
Reinsurance Treaty. Borrower shall cause AH to continue to offer, for the time period set forth in the table contained in this paragraph, to reinsure a portion of its Personal Lines Auto Quota Share Reinsurance with Lender, the form and content of such reinsurance treaty to be substantially similar to Exhibit D attached hereto, in amounts sufficient to allow for the following schedule of ceded premiums: Treaty Years Ceded Premium 07/01/99 to 06/30/00 $ 9,000,000 07/01/00 to 06/30/01 $ 9,000,000 07/01/01 to 06/30/02 $ 9,000,000 07/01/02 to 06/30/03 $ 9,000,000 07/01/03 to 06/30/04 $ 9,000,000 Premiums ceded to Lender pursuant to a reinsurance treaty with a managing general agency for whom Borrower or an Affiliate serves as the program administrator or similar function will not be counted toward satisfaction of the foregoing schedule of ceded premiums."
Reinsurance Treaty. Ceding insurer agreed to cede and the reinsurer agrees to accept a share of business as specified in the treaty. • Will exclude classes and/or exposures unacceptable to the reinsurer • Insurer may go outside of treaty to arrange for separate reinsurance • Reinsurer required to accept all risks that fall under treaty terms • Does not incur agent commissions and fees, cost of issuing the policy, cost of inspecfions, other expenses – so they pay insurer ceding commission Facultafive Reinsurance AKA Facob Reinsurance is negofiated individually for one specific policy of insurance. • Facultafive underwriter examines the risk and the terms and the condifions of the insurance policy being reinsured. The underwriter determines acceptability, terms and condifions, what porfion of the risk they are accepfing, and price. • Unique and larger risks • More expensive • Open Cover or Facultafive Obligatory – compels the reinsurer to accept the porfion of any business of a certain class offered by a ceding insurer or a ceding broker. – Normally exclusive programs. • Pool Arrangement – number of primary insurers agree to place all business of a certain type into the “pool”. Each member of the pool gets a prearranged percentage of the total premiums and agreed percentage of all losses. IE Terrorism, Marine, Aviafion, Pollufion, Nuclear, ETC. Two Structures of Reinsurance PRO-RATA OR SHARED RISK Under a proporfional or pro-rata, arrangement the reinsurer pays a percentage of each loss covered by the reinsurance policy. In return, it receives the same percentage of the original premium – less a ceding commission.
Reinsurance Treaty. CIGNA desires to cede, and Vesta desires to assume, ------------------ liability for the Covered Business, pursuant to the terms of a 100% Quota Share Reinsurance Treaty between CIGNA and Vesta (the "Treaty"). The Treaty shall continue in effect for as long as CIGNA remains directly and primarily liable for any Covered Business under policies written by CIGNA as the issuing carrier. CIGNA's compensation for its undertakings under this Agreement and the transactions contemplated hereby shall be as set forth in the Treaty and as otherwise provided herein. CIGNA and Vesta shall execute the Treaty simultaneously with their execution of this Agreement. In the event of any conflict or inconsistency between this Agreement and the Treaty, the Treaty shall control.
Reinsurance Treaty. The Company shall have entered into a reinsurance treaty in an amount not less than $10,000,000 on terms reasonably satisfactory in form and substance to Purchaser.
Reinsurance Treaty. Oxford shall cause the PLAN to enter into a reinsurance treaty prior to Closing effective January 1, 1999 conditioned upon HRM acquiring the PLAN which shall cause $5 million advance ceding allowance to flow into the PLAN prior to Closing.
Reinsurance Treaty. 35 Section 5.26 Forty-Nine State Closing; NY Closing ...................................... 35
Reinsurance Treaty. In order to effect the assignment of an Outward Reinsurance Agreement, Sellers and Purchaser hereby agree to cooperate and use their reasonable best effects to comply with their respective requirements set out in a letter agreement by and among RGA Reinsurance, AFLIAC and Purchaser dated December 31, 2002.
Reinsurance Treaty. The Company has entered into a reinsurance treaty with the Reassurance Company of Hannover in the form attached hereto as Schedule 9.7.
Reinsurance Treaty. Borrower shall cause AH to continue to offer, for the time period set forth in the table contained in this paragraph, to reinsure a portion of its Personal Lines Auto Quota Share Reinsurance with Lender, the f o r m and content of such reinsurance treaty to be substantially similar to Exhibit D attached hereto, in amounts sufficient to allow for the following schedule of ceded premiums: Treaty Years Ceded Premium 07/01/97 to 06/30/98 $ 20,000,000 07/01/98 to 06/30/99 $ 21,600,000 07/01/99 to 06/30/00 $ 23,328,000 07/01/00 to 06/30/01 $ 25,194,240 07/01/01 to 06/30/02 $ 27,209,779 07/01/02 to 06/30/03 $ 29,386,562 07/01/03 to 06/30/04 $ 31,737,486 p. Affiliate Transactions. All transactions for the duration of the Transaction Documents between or among Borrower, each Affiliate, and any director, officer, employee and/or agent of Borrower or any Affiliate shall be in good faith and commercially reasonably.
