CASUALTY EXCESS OF LOSS REINSURANCE AGREEMENT
(hereinafter referred to as the "Agreement")
SAFETY NATIONAL CASUALTY CORPORATION
St. Louis, Missouri
(hereinafter referred to as the "Reinsured")
ORACLE REINSURANCE COMPANY LTD.
(hereinafter referred to as the "Reinsurer")
In consideration of the mutual covenants hereinafter contained and upon the terms and conditions hereinafter set
forth, the parties hereto agree as follows:
This Agreement shall cover business classified by the Reinsured as Specific and/or Aggregate Excess Workers'
Compensation and Casualty Business, and shall apply to the Reinsured's Net Losses occurring prior to January
1, 1997 for Policies effective on or before December 31, 1996.
TERM & CANCELLATION
1. This Agreement shall become effective at 12:01 A.M. Local Standard Time, January 27, 1998, and shall apply
to all Losses Occurring prior to January 1, 1997.
2. This Agreement shall terminate upon the first to occur of any of the following events:
a.) At such time as all of the Reinsured's liabilities and obligations with respect to the reinsured claims have been
satisfied in their entirety, and the Reinsurer has paid to the Reinsured in full all amounts owing to the Reinsured
under the provisions of this Agreement.
b.) At any time, by mutual written consent of the parties.
c.) The Reinsured shall have the right to terminate this Agreement immediately by giving the Reinsurer notice:
(1) If the performance of the whole or any part of this Agreement is prohibited or rendered impossible de jure or
de facto in particular and without prejudice to the generality of the preceding words in consequence of any law or
regulations which is or shall be in force in any country or territory or if any law or regulations shall prevent directly
or indirectly the remittance of any or all or any part of the balance or payments due to or from either party.
(2) If the R