ContractReinsurance Agreement Reinsurance Agreement • May 5th, 2020
EX-10.3 2 b80759a3exv10w3.htm EX-10.3 Exhibit 10.3 AMENDED AND RESTATED REINSURANCE AGREEMENT Reinsurance Agreement (“Agreement”) by and between PEERLESS INSURANCE COMPANY, a New Hampshire stock insurance company (“PIC” or the “Accepting Company”) and LIBERTY MUTUAL INSURANCE COMPANY, a Massachusetts stock insurance company (“LMIC” or the “Ceding Company”). WHEREAS, the parties originally entered into the Liberty Mutual Surety Reinsurance Agreement effective as of January 1, 2008 (“the 2008 Agreement”); and WHEREAS, the parties desire to amend and restate the 2008 Agreement. NOW, THEREFORE, IN CONSIDERATION OF the mutual promises and agreements contained herein and intending to be legally bound hereby, the parties hereby agree as follows: 1. EFFECTIVE DATE This Agreement is effective as of [INSERT DATE] (the “Effective Date”), and shall remain in force unless modified by mutual agreement or terminated as provided herein. 2. CESSIONS AND ACCEPTANCES 2.1. LMIC hereby cedes to PIC and PIC
