Third Party Reinsurance definition

Third Party Reinsurance means reinsurance of the Reinsured Policies placed with third party reinsurers as identified and summarized in Exhibit II (as such Exhibit II may be amended from time to time).

Third Party Reinsurance means all contracts of reinsurance with The Maritime Life Assurance Company and with independent parties unaffiliated with the Company or any of its Affiliates under which the Company's Reserves and Liabilities with respect to the Coinsured Policies or some portion thereof are transferred, whether or not such contracts of reinsurance are also applicable to business other than the Coinsured Policies.

Third Party Reinsurance means all third-party reinsurance of the Company with respect to the Commuted Business in effect as of the Effective Time.

Examples of Third Party Reinsurance in a sentence

• The Reinsurer’s Quota Share of Covered Liabilities shall be reduced, but not below zero, by the Reinsurer’s Quota Share of Third Party Reinsurance for Covered Liabilities in accordance with the respective terms thereof, to the extent such Third Party Reinsurance is actually collected.

• The Ceding Company shall pay to the Reinsurer the Reinsurer’s Quota Share of all ceding commissions and any Premium Tax or other expense allowances collected by the Ceding Company from the reinsurers under Third Party Reinsurance.

• Claim amounts less than or equal to $250,000 (net of amounts recoverable under Third Party Reinsurance) will be reported by the Ceding Company to the Reinsurer on a bordereau basis, and all other Claims shall be reported on an individual basis, in each case in accordance with Section 8.1.

• Other than existing reinsurance under the Third Party Reinsurance Agreements or any existing reinsurance between two or more of the Aspen entities, Aspen shall not reinsure any Covered Loss or enter into any agreement that would constitute a Third Party Reinsurance Agreement.

• For so long as the Administrative Services Agreement remains in effect, the Reinsurer (or the Administrator) shall have the right in accordance with the terms thereof to collect all Third Party Reinsurance Recoverables on behalf of Aspen and to make any payments due or owing by Aspen to any counterparty pursuant to any Third Party Reinsurance Agreement to the extent applicable to Covered Losses.

More Definitions of Third Party Reinsurance

Third Party Reinsurance means all reinsurance and retrocession agreements between Folksam (as Cedant) and third party reinsurers (as reinsurer or retrocessionaire) inuring to the benefit of the Retained Business.

Third Party Reinsurance means all third-party reinsurance of Ceding Company with respect to the Covered Policies in effect on and after the Effective Date.

Third Party Reinsurance means any contracts of reinsurance with a Third-Party Reinsurer in place as of the Effective Date that inure to the benefit of the Ceding Companies or their Affiliates and cover the Subject Business hereunder.

Third Party Reinsurance means all reinsurance coverage of risks under the Covered Policies to which the Company is a party at the applicable time, other than (i) the reinsurance provided under this Agreement, and (ii) immediately upon Recapture or Commutation, reinsurance which is Recaptured or Commuted pursuant to Section 5(k) of the Master Agreement or in accordance with the terms of this Agreement, including Section 8(a)(v) hereof. For the avoidance of doubt, concurrently with any Specified Policy becoming a Covered Policy under Section 6(h), 6(i) or 6(j), any third party reinsurance coverage of risks under such Specified Policy shall be included in the term “Third Party Reinsurance”, including for purposes of Sections 8(a)(v) and 8(a)(vi).

Third Party Reinsurance has the meaning given to it in the Loss Portfolio Transfer Agreement.

Third Party Reinsurance means all retrocessional agreements pursuant to which the Company cedes reinsurance covering all or a portion of the interests and liabilities assumed under the Treaties, including without limitation, those retrocessional agreements set forth in Schedule C.

Third Party Reinsurance has the meaning given in the Reinsurance Agreement.