The amount of cession for reinsurer K if all reinsurers share the risk equally with the sum insured of N360,000 is?

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