ENDORSEMENT
TO
FACULTATIVE OBLIGATORY RETROCESSIONAL AGREEMENT
(hereinafter referred to as "Agreement")
between
PXRE REINSURANCE COMPANY
(hereinafter referred to as the "Company")
and
SELECT REINSURANCE COMPANY
(hereinafter referred to as the "Reinsurer")
It is understood and agreed that effective January 1, 2001, the participation
of the Reinsurer is amended to 16.5%.
Under terms of the Agreement, the Reinsurer agrees to assume severally and not
jointly with other participants a 16.5% share (being $3,300,000 per program)
of the liability described in the attached Agreement, and as consideration of
the above, the Reinsurer shall receive 16.5% of the premium named therein for
cession made on or after 12:01 a.m., January 1, 2001, local time, for business
incepting or renewing after that date.
Signed in Xxxxxxxx, Bermuda this 1st day of March, 2001.
SELECT REINSURANCE LTD.
BY: XXX XXXXX
___________________________
TITLE: Vice President
________________________
And in Edison, New Jersey, this 28th day of February, 2001.
PXRE REINSURANCE COMPANY
BY: XXXXXX XXXXXXX
___________________________
TITLE: Executive Vice President
________________________
