Retrocession Clause Samples

Retrocession. Except for reinsurance agreements under Collateral Facilities, the Reinsurer may not retrocede more than twenty five percent (25%) of the risks ceded pursuant to this Agreement without the prior written consent of the Ceding Company. For the avoidance of doubt, any such retrocession by the Reinsurer shall not modify or otherwise limit the Reinsurer’s obligations under this Agreement or the Trust Agreement.

Retrocession. The Reinsurer may reinsure or retrocede any risks or business assumed hereunder.

Retrocession. 0.05% per annum based on the average daily net assets of each Fund (as set forth in each Fund’s current Prospectus or SAI)

Retrocession. (a) At the direction of the Company, the Underwriting Manager shall arrange and purchase retrocessional cover for the benefit of the Company (“Ceded Retrocession Agreements”). Except as directed by the Company, the Underwriting Manager shall have no authority hereunder to purchase or otherwise bind retrocessional cover for the benefit of the Company or to terminate, waive or amend the terms of any Ceded Retrocession Agreements. (b) The Underwriting Manager shall manage and administer the Ceded Retrocession Agreements, including providing all reports and notices required in regard to the Ceded Retrocession Agreements to the retrocessionaires thereunder within the time required by the applicable retrocession agreement or agreements and doing all other things necessary to comply with the terms of the Ceded Retrocession Agreements. Without limiting the foregoing, the Underwriting Manager shall timely pay retrocession premiums due to retrocessionaires under the Ceded Retrocession Agreements from funds in the Operating Account and shall diligently seek to collect from such retrocessionaires all reinsurance receivables due thereunder.

Retrocession. Except in connection with the wind up of the Reinsurer at any time after January 1, 2009, the Reinsurer agrees that it will not enter into any retrocession agreements with respect to the Ceded Losses and will retain for its own account one hundred percent (100%) of such liability. If the Reinsurer enters into any retrocession agreement with respect to Ceded Losses, the retrocession provider must be reasonably satisfactory to the Ceding Company.

Retrocession. (a) The Reinsurer may retrocede the Reinsured Risks with respect to Reinsured Contracts that are not in payout status to (i) U.S. domiciled insurance companies that are Affiliated with the Reinsurer with an RBC Ratio of [***]% or higher at the time of such retrocession and (ii) insurance companies that are not domiciled in the U.S. or are not Affiliated with the Reinsurer only with the prior written consent of the Ceding Company (such consent not to be unreasonably withheld, conditioned or delayed, it being agreed and acknowledged by the Parties that it would not be unreasonable for the Ceding Company to withhold its consent to any retrocession if the Retrocessionaire has not agreed to include in its retrocession agreement with the Reinsurer all of the provisions in Section 2.11(b) as if such Retrocessionaire was an Affiliate Retrocessionaire); provided, that, with respect to any retrocession contemplated in clause (i) or (ii), the Reinsurer shall retain net for its own account (and not reinsured or retroceded) at least ten percent (10%) of the Reinsurer Statutory Reserves. The Reinsurer shall cause any Retrocessionaire with respect to Reinsured Contracts that are not in payout status to agree to all of the foregoing restrictions in this Section 2.9(a) and shall use its reasonable best efforts to enforce such provisions. Notwithstanding anything in this Agreement to the contrary, without the prior written consent of the New York State Department of Financial Services, the Reinsurer shall not retrocede any of the Reinsured Risks to a captive reinsurer. (b) The Reinsurer may retrocede the Reinsured Risks with respect to Reinsured Contracts that are in payout status to any insurance company with (i) both (A) an RBC Ratio of [***]% or higher at the time of such retrocession and (B) a financial strength rating of at least [***] (or the equivalent thereof) as assigned by any nationally recognized statistical rating organization at the time of such retrocession or (iii) the prior written consent of the Ceding Company (such consent not to be unreasonably withheld, conditioned or delayed). The Reinsurer shall cause any Retrocessionaire with respect to Reinsured Contracts that are in payout status to agree to the foregoing restrictions in this Section 2.9(b) and shall use its reasonable best efforts to enforce such provisions. (c) Except as set forth in this Section 2.9, the Reinsurer may not retrocede or otherwise transfer all or any portion of the Reinsured Risks....

Retrocession. A form of reinsurance agreement which enables the Reinsurer to cede all or part of the reinsurance it has assumed from another Reinsurer.

Retrocession. The Reinsurer may retrocede all or any portion of the risks ceded to it pursuant to this Agreement without the consent of the Ceding Company.

Retrocession. Reinsurers typically purchase reinsurance to cover their own risk exposure or to increase their capacity. Reinsurance of a reinsurer's business is called retrocession. Reinsurance companies cede risks under retrocessional agreements to other reinsurers, known as retrocessionaires, for reasons similar to those that cause primary insurers to purchase reinsurance. These reasons include reducing liability on individual risks, protecting against catastrophic losses, stabilizing financial ratios and obtaining additional underwriting capacity. We plan to purchase and issue retrocessional policies.