HEALY, Circuit Judge.
This case involves a dispute concerning the interpretation of a contract of reinsurance.
The contract, termed in the insurance world a "treaty," was entered into between the parties in January 1940. Appellant was the reinsured company and appellee the reinsuring company. In the first article of the treaty appellant agreed to cede reinsurance to appellee, and the latter agreed to accept such reinsurance, on account of liability arising...
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