In the event of the profit commission statement showing a loss to the Reinsurers at the close of any one underwriting year, before inclusion of previous underwriting years' results, then the total of such loss shall be added to the 'Outgo' of the ensuing underwriting year or years (as the case may be) and no profit commission shall be payable to the Reassured in respect of such ensuing underwriting year or years unless and until the previous loss has been recovered and a net profit (re-)established, provided, however, that the deficit of any one underwriting year shall not be The carried-forward into the profit commission statements of more than the than the three-bed following underwriting years. This reminds me of one thing
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