Insurer XYZ is jointly covered for two lines of surplus treaty reinsurance by reinsurers I, J, K, and L for a retention limit of N120,000. The amount of cession for reinsurer K if all reinsurers share the risk equally with the sum insured of N360,000 is?
A. N45,000
B. N60,000
C. N90,000
D. N120,000
Correct Answer: Option B
B. N60,000
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