(1) The credit allowed to a certified reinsurer pursuant to 33-2-1216, MCA, and this rule shall apply only to reinsurance contracts entered into or renewed on or after the effective date of the certification of the assuming insurer. Reinsurance contracts entered into prior to the effective date of the certification of the assuming insurer can be applied prospectively to the effective date of the certification of the assuming insurer only with respect to losses incurred and reserves reported from and after the effective date of an amendment to the prior contract or the effective date of a new contract.