Addendum No. 3 to Quota Share Reinsurance Agreement between Platinum Re (UK) Limited and Platinum Underwriters Bermuda, Ltd.
This addendum modifies the original Quota Share Reinsurance Agreement between Platinum Re (UK) Limited and Platinum Underwriters Bermuda, Ltd. It adds an exclusion for losses arising from a specific Excess of Loss Retrocession Agreement dated April 1, 2005. All other terms of the original agreement remain unchanged. The addendum is effective from the start date of the original agreement and is signed by authorized representatives of both parties.
ADDENDUM NO. 3
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 from the Commencement of the Original Agreement, the parties hereto hereby agree to amend the said agreement as follows:
EXCLUSIONS
The following Exclusion Clauses are attached to and form part of this Agreement:
| 1. | Losses emanating from the Excess of Loss Retrocession Agreement by and between Platinum Re (UK) Limited and Platinum Underwriters Bermuda, Ltd. dated as of April 1 2005. |
All other terms and conditions of the Original Agreement remain unchanged.
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/ Les Waters _ |
| Name: Les Waters |
Title: Underwriting Manager
