The firms said that the deal would help secure obligations agreed in a quota share reinsurance
contract between Maiden Re and AmTrust Financial Services Bermuda for losses incurred on or before December 31, 2018.
The adverse development cover is with respect to Maiden Re's quota share reinsurance
contract with AmTrust Financial Services, Inc.'s Bermuda subsidiary ('AmTrust Bermuda') for losses incurred on or prior to December 31, 2018 in excess of a $2.178 billion retention, up to a $600 million limit.
DARAG Enters Retrospective Quota Share Reinsurance
Deal with Norway's Protector
As previously disclosed, Heritage reduced NBIC's gross quota share reinsurance
coverage to 8.0% at June 1, 2018 from 18.75% previously, which management expects to further shift the seasonality of retained northeastern U.S.
Collateralized reinsurance and ILS funds that participate on lower layer quota share reinsurance
or retrocession agreements with cedants that were particularly exposed to the region would be the most likely source of potential modest loss in the ILS market.
There was also a loss portfolio transfer agreement Maiden signed with Enstar for the loss reserves related to its quota share reinsurance
with AmTrust Financial Services, with which it is affiliated.
Indeed, Gunther Saacke, Qatar Re's CEO, wrote the first quota share reinsurance
treaty of the start-up Markerstudy Group in 2001, building a thorough understanding and deep appreciation of Markerstudy's business.
Because of this information differential, quota share reinsurance
transactions for simplified underwriting are a significant part of today's cession rate of approximately 25% and one of the best chances for it growing again.
In addition, NGHC has also reached an agreement with several Tower subsidiaries to enter into, immediately upon the receipt of regulatory approval, a 100% quota share reinsurance
agreement and provide a cut-through endorsement (the "Cut Through Reinsurance Agreement") on most of Towers in force personal lines policies and on new and renewal personal lines business.
State Auto says its homeowners' quota share reinsurance
arrangement increased the company's underwriting loss by $10 million in the third quarter.
"We have signed new quota share reinsurance
deals for the UK for 2011 through to 2013.