Addendum No. 1 to Quota Share Reinsurance Agreement between Platinum Re (UK) Limited and Platinum Underwriters Bermuda, Ltd.

Summary

This addendum amends the original Quota Share Reinsurance Agreement dated March 27, 2003, between Platinum Re (UK) Limited and Platinum Underwriters Bermuda, Ltd. Effective April 1, 2003, it updates the terms regarding the percentage and scope of reinsurance coverage, specifying a 25% quota share of certain international property catastrophe excess of loss business and a specific excess of loss treaty. All other terms of the original agreement remain unchanged.

EX-10.19 20 y97104exv10w19.txt QUOTA SHARE RETROCESSION AGREEMENT ADDENDUM NO. 1 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. Page 1 of 2 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/ Francois Bertrand ----------------------------- Name: Francois Bertrand Title: Senior Vice President Platinum Re (UK) Limited By: /s/ Robert S. Porter ----------------------------- Name: Robert S. Porter Title: Managing Director Page 2 of 2