IT IS HEREBY MUTUALLY AGREED that effective April 1, 2005, this Quota Share Retrocession Agreement (“Agreement”), dated as of January 1, 2004, by and between Platinum Underwriters Bermuda, Ltd., a Bermuda domiciled insurance company (the “Retrocessionaire”), and Platinum Underwriters Reinsurance, Inc. a Maryland domiciled insurance company (the “Retrocedant”), is amended as follows:
ARTICLE 5 — EXCLUSIONS
The following Exclusion Clauses are attached to and form part of this Agreement:
Pools, Associations, and Syndicates as per Pools, Associations, and syndicate Exclusion Clause.
4. War Risk Exclusion Clause.
5. Insolvency Funds Exclusion Clause.
6. Business classified by the Retrocedant as Finite Quota Share.
7.
Reinsurance contracts retroceded to Retrocedant by any subsidiary or affiliate of The St. Paul Companies, Inc.
8.
Losses emanating from the Excess of Loss Retrocession Agreement by and between Platinum Re (UK) Limited and Platinum Underwriters Reinsurance, Inc. dated as of April 1, 2005.
All other terms and conditions of this Agreement shall remain unchanged.
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed in duplicate by their respective officers duly authorized so to do, on the date set forth below.
Platinum Underwriters Bermuda, Ltd.
By:/s/ Francois Bertrand
Name: Francois Bertrand
Title: Senior Vice President
Date: May 17, 2005
Platinum Underwriters Reinsurance, Inc.
By:/s/ Edward Torres
Name: Edward Torres
Title: Senior Vice President
Date: May 17, 2005
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