1
EXHIBIT 10.30
ALEXANDER REINSURANCE INTERMEDIARIES, INC
Trenwick America Reinsurance Corp.
TBAA-1997
Page 1 of 2
PLACEMENT SLIP
RETROCEDENT: TRENWICK AMERICA REINSURANCE CORPORATION
TYPE: CATASTROPHE EXCESS OF LOSS REINSURANCE
CLASS: Retrocedents participation in all business
underwritten by Duncanson & Holt Group.
PERIOD: Losses occurring during the period
January 1, 1997 through December 31, 1997,
both days inclusive.
TERRITORIAL
SCOPE: As Per Original Policies.
LIMITS: THIS REINSURANCE is to indemnify the
Reinsured for all losses in excess of an
Ultimate Net Loss of US$1,000,000 each and
every loss.
POLICY FOR up to a further US$4,000,000 each
and every loss.
REINSTATEMENTS: Two at 100% Additional Premium pro rata as
to time and amount.
EXCLUSIONS: As Per Original Policies.
Employers Liability.
MINIMUM AND DEPOSIT
PREMIUM: US$75,000.
Payable in four installments as follows:
25% at January 1, 1997
25% at April 1, 1997
25% at July 1, 1997
25% at October 1,1997
Adjustable at 1.25% of the Reinsured's
Applicable Net Earned Premium Income.
March 25, 1997
Alexander Reinsurance Intermediaries, Inc.
2
ALEXANDER REINSURANCE INTERMEDIARIES, INC
Trenwick America Reinsurance Corp.
TBAA-1997
Page 2 of 2
GENERAL
CONDITIONS: Access to Records Clause
Alexander Reinsurance Intermediaries, Inc.
Intermediary Clause
Arbitration Clause
Currency Clause
Definition of Loss Occurrence
Errors and Omissions Clause
Federal Excise Tax Clause
Funding of Loss Reserves Clause
Insolvency Clause
Net Retained Lines Clause
Notice of Loss and Loss Settlements Clause
Salvage and Subrogation Clause
Service of Suit Claim Clause
Taxes Clause
Ultimate Net Loss Clause
120 Months Commutation Clause (as per
original policy basis)
120 Months Sunset Clause
LOSS RESERVES: Non-Admitted Reinsurers to provide Letters
of Credit for outstanding losses as required
by the Retrocedent.
WORDING: Subject to Full Wording to be agreed by
Leading Underwriter on behalf of all.
Signing Slips and any amendments and/or
alterations to be agreed by Two Leading
Underwriters on behalf of all.
PARTICIPANTS:
ManuLife Re Corp (ISA) 25
Reliance National 25
London Life 10
AIG 10
SYN 183 10
SYN 1101 10
SYN 957 10
--
100
===
March 25, 1997
Alexander Reinsurance Intermediaries, Inc.
3
ALEXANDER REINSURANCE INTERMEDIARIES, INC
Trenwick America Reinsurance Corp.
TBAB-1997
Page 1 of 2
PLACEMENT SLIP
RETROCEDENT: TRENWICK AMERICA REINSURANCE CORPORATION
TYPE: CATASTROPHE EXCESS OF LOSS REINSURANCE
CLASS: Retrocedents participation in all business
underwritten by Duncanson & Holt Group.
PERIOD: Losses occurring during the period
January 1, 1997 through December 31, 1997,
both days inclusive.
TERRITORIAL
SCOPE: As Per Original Policies.
LIMITS: THIS REINSURANCE is to indemnify the
Reinsured for all losses in excess of an
Ultimate Net Loss of US$5,000,000 each and
every loss.
POLICY FOR up to a further US$20,000,000
each and every loss.
REINSTATEMENTS: Two at 100% Additional Premium pro rata as
to time and amount.
EXCLUSIONS: As Per Original Policies.
Employers Liability.
MINIMUM AND DEPOSIT
PREMIUM: US$30,000.
Payable in four installments as follows:
25% at January 1, 1997
25% at April 1, 1997
25% at July 1, 1997
25% at October 1, 1 997
Adjustable at 0.50% of the Reinsured's
Applicable Net Earned Premium Income.
March 25, 1997
Alexander Reinsurance Intermediaries, Inc.
4
ALEXANDER REINSURANCE INTERMEDIARIES, INC
Trenwick America Reinsurance Corp.
TBAB-1997
Page 2 of 2
GENERAL
CONDITIONS: Access to Records Clause
Alexander Reinsurance Intermediaries, Inc.
Intermediary Clause
Arbitration Clause
Currency Clause
Definition of Loss Occurrence
Errors and Omissions Clause
Federal Excise Tax Clause
Funding of Loss Reserves Clause
Insolvency Clause
Net Retained Lines Clause
Notice of Loss and Loss Settlements Clause
Salvage and Subrogation Clause
Service of Suit Claim Clause
Taxes Clause
Ultimate Net Loss Clause
120 Months Commutation Clause (as per
original policy basis)
120 Months Sunset Clause
LOSS RESERVES: Non-Admitted Reinsurers to provide Letters
of Credit for outstanding losses as required
by the Retrocedent.
WORDING: Subject to Full Wording to be agreed by
Leading Underwriter on behalf of all.
Signing Slips and any amendments and/or
alterations to be agreed by Two Leading
Underwriters on behalf of all.
PARTICIPANTS:
ManuLife Re Corp (ISA) 35
CIGNA Re 25
London Life 10
AIG 10
SYN 183 5
SYN 1101 5
SYN 957 10
--
100
===
March 25, 1997
Alexander Reinsurance Intermediaries, Inc.
5
ALEXANDER REINSURANCE INTERMEDIARIES, INC
Trenwick America Reinsurance Corp.
TBAC-1997
Page 1 of 2
PLACEMENT SLIP
RETROCEDENT: TRENWICK AMERICA REINSURANCE CORPORATION
TYPE: CATASTROPHE EXCESS OF LOSS REINSURANCE
CLASS: Retrocedents participation in all business
underwritten by Duncanson & Holt Group.
PERIOD: Losses occurring during the period January
1, 1997 through December 31, 1997, both days
inclusive.
TERRITORIAL
SCOPE: As Per Original Policies.
LIMITS: THIS REINSURANCE is to indemnify the
Reinsured for all losses in excess of an
Ultimate Net Loss of US$25,000,000 each and
every loss.
POLICY FOR up to a further US$25,000,000
each and every loss.
REINSTATEMENTS: Two at 100% Additional Premium pro rata as
to time and amount.
EXCLUSIONS: As Per Original Policies.
Employers Liability.
MINIMUM AND DEPOSIT
PREMIUM: US$20,000.
Payable in four installments as follows:
25% at January 1, 1997
25% at April 1, 1997
25% at July 1, 1997
25% at October 1, 1997
Adjustable at 0.33% of the Reinsured's
Applicable Net Earned Premium Income.
March 25, 1997
Alexander Reinsurance Intermediaries, Inc.
6
ALEXANDER REINSURANCE INTERMEDIARIES, INC
Trenwick America Reinsurance Corp.
TBAD-1997
Page 2 of 2
GENERAL
CONDITIONS: Access to Records Clause
Alexander Reinsurance Intermediaries, Inc.
Intermediary Clause
Arbitration Clause
Currency Clause
Definition of Loss Occurrence
Errors and Omissions Clause
Federal Excise Tax Clause
Funding of Loss Reserves Clause
Insolvency Clause
Net Retained Lines Clause
Notice of Loss and Loss Settlements Clause
Salvage and Subrogation Clause
Service of Suit Claim Clause
Taxes Clause
Ultimate Net Loss Clause
120 Months Commutation Clause (as per
original policy basis)
120 Months Sunset Clause
LOSS RESERVES: Non-Admitted Reinsurers to provide Letters
of Credit for outstanding losses as required
by the Retrocedent.
WORDING: Subject to Full Wording to be agreed by
Leading Underwriter on behalf of all.
Signing Slips and any amendments and/or
alterations to be agreed by Two Leading
Underwriters on behalf of all.
PARTICIPANTS:
ManuLife Re Corp (ISA) 25
CIGNA Re 20
London Life 10
Continental Assurance Company (DSU) 30
AIG 4
SYN 183 1
SYN 1101 2.5
SYN 957 5.0
SYN 959 2.5
---
100
===
March 25, 1997
Alexander Reinsurance Intermediaries, Inc.
7
ALEXANDER REINSURANCE INTERMEDIARIES, INC
Trenwick America Reinsurance Corp.
TBAD-1997
Page 1 of 2
PLACEMENT SLIP
RETROCEDENT: TRENWICK AMERICA REINSURANCE CORPORATION
TYPE: CATASTROPHE EXCESS OF LOSS REINSURANCE
CLASS: Retrocedents participation in all business
underwritten by Duncanson & Holt Group.
PERIOD: Losses occurring during the period January
1, 1997 through December 31, 1997, both days
inclusive.
TERRITORIAL
SCOPE: As Per Original Policies.
LIMITS: THIS REINSURANCE is to indemnify the
Reinsured for all losses in excess of an
Ultimate Net Loss of US$50,000,000 each and
every loss.
POLICY FOR up to a further US$50,000,000
each and every loss.
REINSTATEMENTS: Two at 100% Additional Premium pro rata as
to time and amount.
EXCLUSIONS: As Per Original Policies.
Employers Liability.
MINIMUM AND DEPOSIT
PREMIUM: US$20,000.
Payable in four installments as follows:
25% at January 1, 1997
25% at April 1, 1997
25% at July 1, 1997
25% at October 1, 1997
Adjustable at 0.33% of the Reinsured's
Applicable Net Earned Premium Income.
March 25, 1997
Alexander Reinsurance Intermediaries, Inc.
8
ALEXANDER REINSURANCE INTERMEDIARIES, INC
Trenwick America Reinsurance Corp.
TBAC-1997
Page 2 of 2
GENERAL
CONDITIONS: Access to Records Clause
Alexander Reinsurance Intermediaries, Inc.
Intermediary Clause
Arbitration Clause
Currency Clause
Definition of Loss Occurrence
Errors and Omissions Clause
Federal Excise Tax Clause
Funding of Loss Reserves Clause
Insolvency Clause
Net Retained Lines Clause
Notice of Loss and Loss Settlements Clause
Salvage and Subrogation Clause
Service of Suit Claim Clause
Taxes Clause
Ultimate Net Loss Clause
120 Months Commutation Clause (as
per original policy basis)
120 Months Sunset Clause
LOSS RESERVES: Non-Admitted Reinsurers to provide Letters
of Credit for outstanding losses as
required by the Retrocedent.
WORDING: Subject to Full Wording to be agreed by
Leading Underwriter on behalf of all.
Signing Slips and any amendments and/or
alterations to be agreed by Two Leading
Underwriters on behalf of all.
PARTICIPANTS:
ManuLife Re Corp (ISA) 25
CIGNA Re 20
London Life 10
Continental Assurance Company (DSU) 21.5
AIG 5
SYN 183 1
SYN 1101 5
SYN 957 10
SYN 959 2.5
---
100
===
March 25, 1997
Alexander Reinsurance Intermediaries, Inc.