TO FACULTATIVE OBLIGATORY RETROCESSION AGREEMENT (hereinafter referred to as "Agreement")Facultative Obligatory Retrocession Agreement • March 27th, 2002 • Pxre Group LTD • Title insurance
Under terms of the Agreement, the Reinsurer agrees to assume severally and not jointly with other participants a 8% share (being $1,600,000 per program) of the liability described in the attached Agreement, and as consideration of the above, the Reinsurer shall receive 8% of the premium named therein for cession made on or after 12:01 a.m., January 1, 2002, local time, for business incepting our renewing after that date.
