Document:

Exhibit

Exhibit 10.18.3

ENDORSEMENT NO. 3

This Endorsement No. 3 is made and entered into as of the 1st day of January, 2017 ("Addendum Effective Date"), and amends the Quota Share Retrocession Agreement ("Agreement"), effective January 1, 2014, by and between Arch Reinsurance Company (the "Company") and Watford Re Ltd. ( the "Retrocessionaire")

NOW, THEREFORE, in consideration of the mutual provisions and agreements contained herein and in the Agreement, the parties, intending to be bound in contract, hereby agree as follows:

		
	1.
	It is acknowledged and agreed that the Company has redomesticated from Nebraska to Delaware.

		
	2.
	As of the Addendum Effective Date, the definition of "Required Security Amount" is amended to mean the sum of (i) [***]% of the [***] of [***], (ii) [***]% of the [***] of [***] in respect of [***], and (iii) [***]% of the [***] of [***] in respect of [***].

		
	3.
	"Short-Tail Business" means (i) agriculture, non-standard automobile, property, surety and title business; (ii) proportional reinsurance of marine, aviation and automobile (personal and commercial) business; and (iii) any other lines of business with similar or shorter loss development patterns. 

		
	4.
	"Long-Tail Business" means (i) casualty (other than lines specifically enumerated as Short-Tail Business) and mortgage business; (ii) excess of loss reinsurance of marine, aviation and automobile (personal and commercial) business; and (iii) any other lines of business with similar or longer loss development patterns. 

		
	5.
	The Company's classifications of specifically enumerated risks shall be conclusive in the absence of bad faith. In cases of doubt as to risks not specifically enumerated as Short­ Tail Business or Long-Tail Business, such risks shall be treated as Long-Tail Business. 

		
	6.
	The Required Security Amount shall be reduced by the unpaid amount of any net amount due from the Company to Retrocessionaire under the Agreement. 

		
	7.
	Notwithstanding Article 19.A.1 of the Agreement, any amount required to be funded through a letter of credit shall be reduced by the unpaid amount of any net amount due from the Company to Retrocessionaire under the Agreement and may be funded, at the option of the Retrocessionaire, by any combination of qualifying letter of credit (includ­ing none) under Article 19.A.1 and a Regulatory Trust Account (including the full amount of the sum of the Unearned Premium and Loss Obligations less any unpaid net amount due from the Company to Retrocessionaire under the Agreement). 

		
	8.
	"Regulatory Trust Account" means funds deposited pursuant to a trust agreement in form and substance, and with a third party trustee, in each case satisfactory to the Company in its sole discretion that meets the requirements of any applicable law, regulation (including, without limitation, Delaware Administrative Code, Title 18, Section 1003, Credit for Reinsurance, as the same may be supplemented and amended) or regulatory authority (including, without 

[***]: CONFIDENTIAL PORTIONS OMITTED AND FILED SEPARATELY WITH THE COMMISSION.

limitation, the Delaware Department of Insurance), which shall be in-vested in accordance with applicable regulatory investment guidelines (including, without limitation, Delaware Administrative Code, Title 18, Section 1003, as the same may be supplemented and amended). 

IN WITNESS WHEREOF, the parties hereto have executed this Endorsement No. 3 as of the day and year first above written.

	
	
	ARCH REINSURANCE COMPANY

	/s/ Jerome Halgan

	
	
	WATFORD RE LTD.

	/s/ John Rathgeber

[***]: CONFIDENTIAL PORTIONS OMITTED AND FILED SEPARATELY WITH THE COMMISSION.Exhibit

Exhibit 10.19.1

ADDENDUM NO. 1 TO QUOTA SHARE RETROCESSION AGREEMENT
This Addendum No. 1 is made and entered into as of the 13th day of November, 2014, and amends the Quota Share Retrocession Agreement ("Agreement"), effective January 1, 2014, by and between Watford Re Ltd. as the "Company" and Arch Reinsurance Ltd. as the "Retro­cessionaire."
NOW, THEREFORE, in consideration of the mutual promises and agreements contained herein and in the Agreement, the parties, intending to be bound in contract, hereby agree as fol­lows:
		
	1.
	"Ceded Contracts" shall not include any contract as to which Retrocessionaire or any Affiliate (as defined in the Services Agreement) of Retrocessionaire has a side-by­ side participation with the Company on the same risk (for the same layer and same time period) as the Company equal to or greater than the product of the Ceded Per­centage and the sum o f the Company's and the Retrocessionaire's (or its Affiliate's) percentage participations on such risk. By way of illustration, if the Company's par­ticipation on a risk is 42.5% for the relevant layer, the Ceded Percentage is 15% and the Retrocessionaire's (or Affiliates) side-by-side participation is 7.5% or greater, then the Company's participation shall not be a Ceded Contract (because 7.5% is equal to 15% x (42.5% + 7.5%)).

		
	2.
	This Addendum No. 1 shall be effective as of the Effective Date.

IN WITNESS WHEREOF, the parties hereto have executed this Addendum No. 1 as of the day and year first above written.

	
	
	ARCH REINSURANCE LTD.

	/s/ Maamoun Rajeh

	 

	WATFORD RE LTD.

	/s/ John RathgeberExhibit

Exhibit 10.19.2

ADDENDUM NO. 2 TO QUOTA SHARE RETROCESSION AGREEMENT
This Addendum  No. 2 is made and entered into as of the 21st day of January, 2019, and amends the Quota Share Retrocession Agreement, effective January 1, 2014, by and between Watford Re Ltd. as the "Company" and Arch Reinsurance Ltd. as the "Retrocessionaire" as amended by Addendum No. 1, dated as of November 13, 2014.
NOW, THEREFORE, in consideration of the mutual promises and agreements contained herein and in the Agreement, the parties, intending to be bound in contract, hereby agree as follows:
		
	1.
	Definitions:

		
	a.
	"WICE" means Watford Insurance Company Europe Limited, a Gibraltar domiciled insurance company.

		
	b.
	"WICE/Company Reinsurance" means the Quota Share Reinsurance Agreement between WICE, as the cedant, and the Company, as the reinsurer, effective July 28, 2015. 

		
	c.
	"WSIC" means Watford Specialty Insurance Co., a New Jersey domiciled in­surance company.

		
	d.
	"WSIC/Company Reinsurance" means the Quota Share Reinsurance  Agreement between WSIC, as the cedant, and the Company, as the reinsurer, effective February 17, 2016. 

		
	e.
	"WIC" means Watford Insurance Company, a New Jersey domiciled insurance company.

		
	f. 
	"WIC/Company Reinsurance"  means the Quota Share Reinsurance Agreement between WSIC, as the cedant, and the Company, as the reinsurer, effective September 1, 2016. 

		
	2.
	"Ceded Contracts"  shall not include cessions assumed by the Company pursuant to the WICE/Company Reinsurance, the WSIC/Company Reinsurance or the WIC/Company Reinsurance.

		
	3. 
	This Addendum shall be effective as of July 28, 2015 with respect to the WICE/Company Reinsurance, February 17, 2016 with respect to the WSIC/Company Reinsurance and September 1, 2016 with respect to the WIC/Company Reinsurance.

IN WITNESS WHEREOF, the parties hereto have executed this Addendum No. 2 as of the day and year first above written.

	
	
	ARCH REINSURANCE LTD.

	/s/ Maamoun Rajeh

	 

	WATFORD RE LTD.

	/s/ Jon LevyExhibit

Exhibit 10.19.3

ADDENDUM NO. 3 TO QUOTA SHARE RETROCESSION AGREEMENT
This Addendum No. 3 is made and entered into as of the 30th day of August, 2018, and amends the Quota Share Retrocession Agreement (the "Agreement"), dated as of January 1, 2014, by and between Watford Re Ltd. as the "Company" and Arch Reinsurance Ltd. as the "Retrocessionaire."
NOW, THEREFORE, in consideration of the mutual promises and agreements contained herein and in the Agreement, the parties, intending to be bound in contract, hereby agree as follows:
		
	1.
	ARTICLE 20, REDUCTIONS IN CEDED PERCENTAGE, shall be deleted in its entirety and shall be left intentionally blank.

		
	2.
	The definition of "Ceded Percentage" shall be replaced by the following:

"Ceded Percentage" means 15%

IN WITNESS WHEREOF, the parties have executed this Addendum No. 3 as of the date first written above.

	
		
	WATFORD RE LTD.

	 
	 

	By:
	/s/ John Rathgeber

	Name:
	John Rathgeber

	Title:
	CEO

	 
	 

	ARCH REINSURANCE LTD

	 
	 

	By:
	/s/ Maamoun Rajeh

	Name:
	Maamoun Rajeh

	Title:
	DirectorExhibit

Exhibit 10.20.1

ADDENDUM NO. 1 TO QUOTA SHARE AGREEMENT

This Addendum No. 1 is made and entered into as of the 15th day of October, 2018 ("Effective Date"), and amends the Quota Share Reinsurance Agreement ("Agreement") by and between Watford Specialty Insurance Company and Arch Reinsurance Company, dated February 17, 2016 (effective January 1, 2016).

NOW, THEREFORE, in consideration of the mutual promises and agreements con­tained herein and in the Agreement, the parties, intending to be bound in contract, hereby agree as follows:

		
	1.
	The definition of"Policy(ies)" is amended by addition of the following provision:

provided, however, that "Policy" shall not include any insurance policy as to which Rein­surer or any Affiliate (as defined in the Services Agreement) of Reinsurer has a side-by­-side participation with the Company on the same risk (for the same layer and same time period) as the Company equal to or greater than 17.65% of the Company's percentage participation on such risk.

		
	2.
	The second sentence of Article 12, prior to the provision (which provision is not amended), is amended as follows:

Within 15 days of such notice, the Reinsurer shall notify the Company of confirmation that it elects a Ceded Percentage (i) equal to 50%; (ii) lower than 50%, but no lower than 15%; or (iii) higher than 50%, but no higher than 90% (unless otherwise agreed by the Reinsurer and the Company), in respect to such Policy ("Cession Notice");

		
	3.
	Article 9 is amended by the addition of a new antepenultimate sentence as follows:

Notwithstanding the foregoing, for any Policy for which the Ceded Percentage is greater than 90%, the ceding fee shall be as agreed between the Reinsurer and the Company.

IN WITNESS WHEREOF, each of the parties hereto has duly executed this Addendum No. 1 as of the date first above written.

	
		
	WATFORD SPECIALTY INSURANCE COMPANY

	 
	 

	By:
	/s/ Alex Scherer

	 
	Name: Alex Scherer

	 
	Title: President & CEO

	 
	 

	ARCH REINSURANCE COMPANY

	 
	 

	By:
	/s/ Barry Golub

	 
	Name: Barry Golub

	 
	Title: Chief Financial Officer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00291-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00291-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00291-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00291-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00291-of-00352.parquet"}]]