TO FACULTATIVE OBLIGATORY RETROCESSIONAL AGREEMENT (hereinafter referred to as "Agreement")Facultative Obligatory Retrocessional Agreement • November 14th, 2003 • 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 of the Companies' Net Retained Line (with a maximum cession of $1,600,000 per reinsurance program) of the liability described in the attached Agreement, and as consideration of the above, the Reinsurer shall receive 8% of the gross premium as described therein in each case for cession made on or after 12:01 a.m., January 1, 2003, local time, for business incepting or renewing after that date until 12:00 a.m. January 1, 2004 for business incepting and renewing before that date.
