AMENDMENT NO. 2 TO REINSURANCE AND POOLING AGREEMENT
QuickLinks -- Click here to rapidly navigate through this document
Exhibit 10.12
AMENDMENT NO. 2
TO
REINSURANCE AND POOLING AGREEMENT
WHEREAS, Zenith Insurance Company ("Zenith"), CalFarm Insurance Company ("CalFarm"), ZNAT Insurance Company ("ZNAT"), and Zenith Star Insurance Company ("Zenith Star") have previously entered into a Reinsurance and Pooling Agreement effective October 1, 1993; and
WHEREAS, Zenith Insurance Company has recently formed and owns 100% of the outstanding common stock of Zenith Insurance Company of Florida ("Zenith/Florida"); and
WHEREAS, Zenith/Florida desires to become a party to the aforementioned Reinsurance and Pooling Agreement;
IN CONSIDERATION of the premises, Zenith, CalFarm, ZNAT, Zenith Star, and Zenith/Florida agree as follows:
- 1.
- Effective
January 1, 1997, Zenith/Florida shall become a party to the Reinsurance and Pooling
Agreement, subject to all of the terms and conditions and obligations thereunder, the same as Zenith, CalFarm, ZNAT and Zenith Star.
- 2.
- Article V—Proportional Shares of the Reinsurance and Pooling Agreement is amended effective January 1, 1997, as follows:
| Zenith Insurance Company | 77.5 | % | |
| CalFarm Insurance Company | 18.0 | % | |
| ZNAT Insurance Company | 2.0 | % | |
| Zenith Star Insurance Company | .5 | % | |
| Zenith Insurance Company of Florida | 2.0 | % |
IN WITNESS WHEREOF, each of the undersigned parties has caused this Amendment No. 2 to the Reinsurance and Pooling Agreement to be executed on its behalf on this 9th day of February, 1998.
| ZENITH INSURANCE COMPANY | ||||
| /s/ XXXX X. XXXXXXX XXXX X. XXXXXXX Secretary |
By: | /s/ XXXXXXX X. XXX XXXXXXX X. XXX President |
||
| CALFARM INSURANCE COMPANY | ||||
| /s/ XXXX X. XXXXXXX XXXX X. XXXXXXX Secretary |
By: | /s/ XXXXXXXXX XXXXXXX XXXXXXXXX XXXXXXX Senior Vice President |
||
| ZNAT INSURANCE COMPANY | ||||
| /s/ XXXX X. XXXXXXX XXXX X. XXXXXXX Secretary |
By: | /s/ XXXXXXX X. XXX XXXXXXX X. XXX President |
||
| ZENITH STAR INSURANCE COMPANY | ||||
| /s/ XXXX X. XXXXXXX XXXX X. XXXXXXX Secretary |
By: | /s/ XXXXXXX X. XXX XXXXXXX X. XXX President |
||
| ZENITH INSURANCE COMPANY OF FLORIDA | ||||
| /s/ XXXX X. XXXXXXX XXXX X. XXXXXXX Secretary |
By: | /s/ XXXXXXX X. XXX XXXXXXX X. XXX President |
||
2
AMENDMENT NO. 2 TO REINSURANCE AND POOLING AGREEMENT
