EXHIBIT 10.44
Addendum No. 1
to the
Interests and Liabilities Agreement
of
Great Lakes American Reinsurance Company
New York, New York
with respect to the
Excess Catastrophe Reinsurance Contract
Effective: January 1, 1997
issued to
Meridian Mutual Group
Indianapolis, Indiana
(hereinafter referred to collectively as the "Company")
It Is Hereby Agreed, effective September 30, 1997, that all
rights, interests, liabilities and obligations of the "Subscibing
Reinsurer" under this Agreement shall be transferred from Great
Lakes American Reinsurance Company, New York, New York
(hereinafter referred to as the "Assignor") to Folksamerica
Reinsurance Company, New York, New York (hereinafter referred to
as the "Assignee"). In accordance therewith, the Assignor shall
assign, and the Assignee shall assume, all of the rights,
interests, liabilities and obligations of the "Subscribing
Reinsurer" under this Agreement. The Assinee shall then be
subject to all of the terms and conditions hereof, and the term
"Subscribing Reinsurer," wherever it is used herein, shall refer
to Folksamerica Reinsurance Company, New York, New York.
It Is Understood and Agreed that the Company consents to the
foregoing transfer of rights, interests, liabilities and
obligations from the Assignor to the Assignee, and further
releases the Assignor from all unfulfilled liabilities and
obligations which have arisen under this Agreement and all
liabilities and obligations which may arise in the future under
this agreement.
It Is Further Agreed that the "Notice and Certificate of
Assumption by Folksamerica Reinsurance Company," a copy of which
is attached to and forms part of this Addendum, shall be
recognized as part of this Agreement, effective September 30,
1997.
In Witness Whereof, the parties hereto by their respective duly
authorized representative have executed this Addendum as of the
dates undermentioned at:
Indianapolis, Indiana,this _______ day of _________________199___.
__________________________________________________
Meridian Mutual Group
New York, New York, this _______ day of ___________________199___.
__________________________________________________
Great Lakes American Reinsurance Company
New York, New York, this _______ day of ___________________199___.
__________________________________________________
Folksamerica Reinsurance Company