The requirements of this subchapter, as amended, apply to all reinsurance agreements entered into or renewed on or after July 1, 2018, or such earlier date as the parties may agree. Unless the parties have agreed to be covered by the requirements of this subchapter prior to July 1, 2018, the requirements for a reinsurance agreement that was entered into or renewed before July 1, 2018, are governed by §§7.601-7.612, and §7.614 of this title as those sections existed immediately prior to that date and those rules are continued in effect for that purpose.