EXHIBIT 10.19
ADDENDUM NO. 1
TO THE
QUOTA SHARE REINSURANCE AGREEMENT
DATED AS OF MARCH 27, 2003
(HEREINAFTER REFERRED TO AS THE "ORIGINAL AGREEMENT")
BETWEEN
PLATINUM RE (UK) LIMITED
(HEREINAFTER REFERRED TO AS THE "COMPANY")
AND
PLATINUM UNDERWRITERS BERMUDA, LTD
(HEREINAFTER REFERRED TO AS THE "REINSURER")
WHEREAS, the Reinsurer and the Company are parties to the Original Agreement.
NOW THEREFORE, effective April 1, 2003, the parties hereto hereby agree to amend
the Original Agreement as follows:
Addendum A - The first and only paragraph shall be deleted in its entirety
and replaced with the following:
"1. 25% Quota Share of Business classified by the Retrocedant as
International Property Catastrophe Excess of Loss Business arising
out of the Retrocedants participation in programmes from Cedant's
domiciled in the United Kingdom and Eire.
2. Property Catastrophe Excess of loss treaty $40,000,000 excess of
$50,000,000 any one occurrence between the Company and Platinum
Underwriters Re, Inc."
All other terms and conditions of the Original Agreement remain unchanged.
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In Witness Whereof, the parties hereto have caused this Addendum No.1 to be
executed by their duly authorized representatives.
Platinum Underwriters Bermuda, Ltd.
By: /s/ Xxxxxxxx Xxxxxxxx
-----------------------------
Name: Xxxxxxxx Xxxxxxxx
Title: Senior Vice President
Platinum Re (UK) Limited
By: /s/ Xxxxxx X. Xxxxxx
-----------------------------
Name: Xxxxxx X. Xxxxxx
Title: Managing Director
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