Later on the Claimant spread some o

Later on the Claimant spread some of its risk at the rate of 20% of the sum insured under the Claimant’s insurance by reinsuring it with the Respondent having Pan Asia Insurance Brokers Co., Ltd. entering into the reinsurance contract on behalf of the Respondent. Pan Asia Insurance Brokers Co., Ltd. had the power to issue the insurance policy, receive the premium and pursue any actions to achieve the reinsurance contract between the parties.