Quota Share Reinsurance Agreement 2024
Atlantic Mutual Insurance ↔ Swiss Re Ltd.
Treaty Document
Structure
Coverage
Exclusions
Risks
Extracted Data
30% Quota Share
Property Reinsurance
65
Risk Score
Low
Medium
High
Parties & Structure
Cedent
Atlantic Mutual Insurance Company
100 Wall Street, New York, NY 10005
Reinsurer
Swiss Re Ltd.
Mythenquai 50/60, 8002 Zurich, Switzerland
Intermediary
Guy Carpenter & Company, LLC
Treaty Type
Quota Share (30%)
Coverage Terms
Cession %
30%
Retention
$35,000,000
Per Occ. Limit
$50,000,000
Aggregate Limit
$150,000,000
Premium Rate
32% of GWP
Ceding Commission
25%
Minimum Premium
$15,000,000
Territory
United States, Puerto Rico, U.S. Virgin Islands
Exclusions
War & Terrorism
Present
Nuclear
Present
Pollution
Present
Cyber
MISSING
Pandemic
Present
Asbestos
Present
Key Dates
Inception
January 1, 2024
Expiration
December 31, 2024
Non-Renewal Notice
September 30, 2024
Final Accounts
June 30, 2025
Commutation Eligible
January 1, 2027 *
Risk Alerts
3
🔴
Missing Cyber Exclusion Clause
This treaty does not contain a standard cyber exclusion clause. Given the increasing frequency of cyber events, this represents a significant coverage gap.
Ref: Article VIII | Recommendation: Add NMA 2914 or LMA5400
🟡
Unusual Notice Period
The claims notification period of 90 days exceeds the market standard of 30-60 days.
Ref: Article X, Section 10.2 | Recommendation: Negotiate to 60 days
🟢
Non-Standard Commutation Window
Commutation rights become available after 36 months vs market standard of 24 months.
Ref: Article XII, Section 12.3 | Recommendation: Note for renewal