BROKERAGE DIRECTION Clause Samples
BROKERAGE DIRECTION. Client directs Manager to cause all transactions for the Account to be executed through the following broker, dealer or bank: Client has read, understands and accepts the limitations that this direction will place on Manager's ability to seek best execution for the Account. This direction may be changed by Client at any time by notifying Manager in writing.
BROKERAGE DIRECTION. Client directs Manager to cause all transactions for the Account to be executed through the following broker, dealer or bank: Client has read, understands and accepts the limitations that this direction will place on Manager's ability to seek best execution for the Account. This direction may be changed by Client at any time by notifying Manager in writing. ------------------------------------------------------------------------------- V. NAME OF CLIENT: VI. DATE: PXRE REINSURANCE LTD. By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ April 8, 2002 -------------------------- -------------------- ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- INVESTMENT GUIDELINES: The investment guidelines to be followed by Manager in managing Client's Account are set forth below: ------------------------------------------------------------------------------- NAME OF CLIENT: DATE: PXRE REINSURANCE LTD. By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ April 8 2002 -------------------------- -------------------- ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ ------------------------------------------------------------------------------- PXRE Group Revised Draft Investment Policy Statement Performance Segment Driven By Benchmarks Investment Philosophy Permitted Investments ------- --------- ---------- --------------------- --------------------- Excess Capital Represents the balancing portion Weighting of: Maximize after tax reported Treasury Bonds of portfolio that is in excess returns through investment in Agency Bonds of all actual and projected - Zurich Hedge longer term debt investments, Municipal Bonds obligations as represented by Fund of Funds hedge funds and other limited Corporate Bonds the Liability and Primary Index partnerships. Securities and Mortgage-backed Capital segments. sectors likely to aggregate with Securities Represents surplus shareholder - ▇▇▇▇▇▇ Aggregate insurance portfolio to be Asset-backed funds that can be more ▇▇ ▇▇▇▇ Index avoided. securities aggressively invested to Average maturities: none Hedge Funds achieve higher returns. This Depending on actual Credit quality: Minimum BBB, Other Limited portion of the portfolio allocation in period Mortgage-backed and Asset-backed Partnerships contains the non-bond AA. Average AA or higher. investments in hedge fund and Diversification: No limit on U.S. other limited partnerships. Government, Agency or municipal This portion of the portfolio obligations...
BROKERAGE DIRECTION. Adviser directs Sub-Adviser to cause all transactions for the Account to be executed through the following broker, dealer or Bank: __________________________________________ Adviser has read, understands and accepts the limitations that this direction will place on Sub-Adviser's ability to seek best execution for the Account. This direction may be changed by Adviser at any time by notifying Sub-Adviser in writing.
BROKERAGE DIRECTION. Client direct Manager to cause all transactions -------------------- for the Account to be executed through the following broker, dealer or bank: -------------------------------------------------------------------------------- Client has read, understands and accepts the limitation that this direction will place on Manager's ability to seek best execution for the Account. This direction may be changed by Client at any time by notifying Manager in writing. -------------------------------------------------------------------------------- V. NAME OF CLIENT: MAX RE LTD. VI. DATE: By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇ May 1, 2000 --------------------------- ---------------- -------------------------------------------------------------------------------- SCHEDULE B -------------------------------------------------------------------------------- INVESTMENT GUIDELINES: The investment guidelines to be followed by Manager in --------------------- managing Client's Account are set forth below: Attached Separately --------------------------------------------------------------------------------
BROKERAGE DIRECTION. Client directs Manager to cause all transactions for ------------------- the Account to be executed through the following broker, dealer or bank: ________________________________________________________________________________ Client has read, understands and accepts the limitations that this direction will place on Manager's ability to seek best execution for the Account. This direction may be changed by Client at any time by notifying Manager in writing. ________________________________________________________________________________ V. NAME OF CLIENT: VI. DATE: SCOTTISH ANNUITY & LIFE HOLDINGS, LIMITED ________________________________ By:______________________________________ October 26, 1998 SCOTTISH ANNUITY & LIFE HOLDINGS, LTD. Investment Policy and Guidelines MAP GENERAL RE LOGO NEW ENGLAND ASSET MANAGEMENT, INC./TM/ SCOTTISH ANNUITY & LIFE HOLDINGS, LTD. INVESTMENT POLICY INVESTMENT PHILOSOPHY Insurance and investment risk are inextricably linked. Consequently, the assumption of risk in either area has significant impact on the company's ability to assume risk in the other. It is imperative, therefore, that the investment policy provide a framework to manage and adjust investment portfolio risk profiles to accommodate present and future corporate insurance risk preferences. INVESTMENT POLICY The company will manage its total investments so that at all times there are fixed income securities which are adequate in amount and duration to meet the cash requirements of current operations as well as longer term liabilities. To the extent that there are funds available for investment beyond these requirements, the investment objective for such funds will be to maximize total return within a prudent level of risk, taking into account the potential impact on the volatility of reported earnings and reserves, as well as the importance of maintaining the company's A.M. Best rating. INVESTMENT OBJECTIVE Scottish Annuity & Life Holding's assets shall be invested to achieve the following objectives: . Meet insurance regulatory requirements with respect to investments under pertinent insurance laws and regulation. . Maintain an appropriate level of liquidity to satisfy the cash requirements of current operations and longer term obligations. . Adjust investment risk to offset or complement insurance risks based on total corporate risk tolerance. . Subject to the foregoing objectives and specific guidelines set forth below, maximize total return on an after-tax basi...
BROKERAGE DIRECTION. Client directs Manager to cause all transactions for the Account to be executed through the following broker, dealer or Bank:___NONE_____________________ Client has read, understands and accepts the limitations that this direction will place on Manager's ability to seek best execution for the Account. This direction may be changed by Client at any time by notifying Manager in writing. ----------------------------------------------------------------------------------------------------------------------- V. NAME OF CLIENT: PENN-AMERICA GROUP, INC. VI. DATE: By: ____________________________________________ _________________________ ---------------------------------------------------------------------------- ----------------------------------------- VII. NAME OF CLIENT: PENN-AMERICA INSURANCE COMPANY VIII. DATE: By: ____________________________________________ _________________________ ---------------------------------------------------------------------------- ----------------------------------------- IX. NAME OF CLIENT: PENN-STAR INSURANCE COMPANY X. DATE: By: ____________________________________________ ___________________________ ---------------------------------------------------------------------------- ----------------------------------------- XI. NAME OF CLIENT: XII. DATE: PENN-PATRIOT INSURANCE COMPANY By: ____________________________________________ ___________________________ ---------------------------------------------------------------------------- ----------------------------------------- SCHEDULE B -------------------------------------------------------------------------------- INVESTMENT GUIDELINES: The investment guidelines to be followed by Manager in managing Client's Account are set forth below: See attached Investment Plan of Penn-America Group, Inc., Penn-America Insurance Company, Penn-Star Insurance Company and Penn-Patriot Insurance Company dated May 14, 2003. -------------------------------------------------------------------------------- NAME OF CLIENT: DATE: PENN-AMERICA GROUP, INC. By: ____________________________________ _____________________ -------------------------------------------------------------------------------- NAME OF CLIENT: DATE: PENN-AMERICA INSURANCE COMPANY By: ____________________________________ _____________________ -------------------------------------------------------------------------------- NAME OF CLIENT: DATE: PENN-STAR INSURANCE COMPANY By: ____________________________________ _____________________ ---...