Basis of Recapture. If you increase the retention limits or your pool percentage shown in Exhibit A, you may make a corresponding reduction in eligible reinsurance cessions. Policies are eligible for recapture if:
a) You have maintained the stated pool percentage limit shown in Exhibit A. Policies on which you retained less than your pool percentage will not be eligible for recapture.
b) The policy has been in force under this Agreement for the Recapture Period shown in Exhibit B. The recapture period will always be measured from the original policy issue date. For converted policies the recapture period will be measured from the issue date of the original policy.
Basis of Recapture. If we increase the retention limits shown in Exhibit A, we may make a corresponding reduction in eligible reinsurance cessions. Policies are eligible for recapture if:
a) we have maintained the maximum retention limit for the age and mortality rating of the insured when the underlying policy was issued. Policies on which we retained a reduced retention or no retention will not be eligible for recapture.
b) the policy has been in force under this Agreement for the Recapture Period shown in Exhibit C, Section IX. The recapture period will always be measured from the original policy issue date.
Basis of Recapture. If the Ceding Company increases its retention limits shown in Exhibit A, it may make a corresponding reduction in eligible reinsurance cessions. Policies are eligible for recapture if
a) the Ceding Company has maintained the maximum retention limit for the age and mortality rating of the insured when the underlying policy was issued. Policies on which the Ceding Company retained a reduced retention or no retention will not be eligible for recapture; and
b) the policy has been in force under this Agreement for the Recapture Period shown in Exhibit C, Section IX. The recapture period will always be measured from the original policy issue date.
Basis of Recapture. If you increase your Dollar Retention Limit as shown in Exhibit X.XX, you may reduce the amount of reinsurance in force through recapture. Reinsured policies are eligible for recapture if:
2.1 You give us written notice of your intention to recapture within ninety (90) days of the effective date of the retention increase;
2.2 You have maintained your full retention for the age and mortality rating of the insured from the time that the policy was issued. No recapture shall be allowed for polices for which you established special or reduced retention limits unless you have retained your full retention on existing or concurrent polices on the insured life;
2.3 You retain all business that is recaptured under the terms of this Article; and
2.4 The policy has been in force under this Agreement for the Recapture Period shown in Exhibit C.XN. The recapture period will always be measured from the original policy issue date. For converted policies the recapture period will be the greater of the recapture period in the original reinsurance agreement, or the recapture period in the agreement to which the policy has converted, measured from the effective date of the original policy.
Basis of Recapture. Recapture will be allowed under this Agreement only in the following circumstances:
a) You elect to increase the premium rates shown in Exhibit C, as discussed in Article V (Reinsurance Rates and Payments); or
b) We elect to recapture all business reinsured under this Agreement. Policies will be eligible for recapture under paragraph a) above as of the effective date of the rate increase, regardless of issue date. Policies will be eligible for recapture under paragraph b) above when the policy has been in force under this Agreement for the Recapture Period shown in Exhibit C, Section lX Recapture Period, and will be based on the effective date of this Agreement. All recapture will be without penalty.
Basis of Recapture. Recapture shall be based upon terms to be negotiated by the parties at the time of termination. The following general principles shall be followed in negotiating the basis of recapture: (a) the consideration to be paid shall reflect the present value of projected profits on the reinsurance of such Contracts; (b) the profit projection shall reflect the cost of all significant risks, primarily those associated with stock market movement and volatility, interest rate movement and the differences in the movements of the Funds versus the stock market; and (c) the taxes to be incurred by the Company and the Reinsurer upon the transfer of Reinsurance Obligations under the Agreement. Notwithstanding the foregoing, if the ground for recapture is the Reinsurer's failure under Section 11.3 to pay an amount due the Company, or the Reinsurer's insolvency or failure to maintain the ratio set forth in Subsection 11.4(d), the foregoing principles shall not apply and the Company shall recapture upon payment by the Reinsurer of an amount equal to the Reinsurance Reserves Obligation as of the date of Recapture.
Basis of Recapture. Recapture is not available until the end of the tenth (10th) policy year for single life and twentieth (20th) for last-to-die and then must be in conjunction with an increase in the Ceding Company's maximum schedule of retention as shown in Exhibit A, II. The amount eligible for recapture will be the difference on the same quota share basis had the new retention schedule been in effect at the time of issue. If you increase the retention limits shown in Exhibit A, you may make a corresponding reduction in eligible reinsurance cessions. Policies are eligible for recapture if:
a) You have maintained the stated retention limit shown in Exhibit A. Policies on which you retained less than your retention limit will not be eligible for recapture.
b) The policy has been in force under this Agreement for the Recapture Period shown in Exhibit B. The recapture period will always be measured from the original policy issue date. For converted policies the recapture period will be measured from the issue date of the original policy.
Basis of Recapture. If you increase the retention limits shown in Exhibit A, you may make a corresponding reduction in eligible reinsurance cessions. Policies are eligible for recapture if:
a) you have maintained the maximum retention limit for the age and mortality rating of the insured when the underlying policy was issued. Policies on which you retained a reduced retention or no retention will not be eligible for recapture.
Basis of Recapture. Recapture will be allowed under this Agreement only in the following circumstances:
a) You elect to increase the premium rates shown in Exhibit C, as discussed in Article V (Reinsurance Rates and Payments); or
b) We elect to recapture all business reinsured under this Agreement; or
c) We increase our quota share percentage shown in Exhibit A. Policies will be eligible for recapture under paragraphs b) and c) above when the policy has been in force under this Agreement for the Recapture Period shown in Exhibit C, Section IX (Recapture Period). The recapture period will always be measured from the original policy issue date for new business issued October 1, 1998 and after, and from October 1, 1998 for all policies issued prior to that date. Policies will be eligible for recapture under paragraph a) above as of the effective date of the rate increase, regardless of issue date. The recapture will be without penalty.
Basis of Recapture. Recapture will be allowed under this Agreement only in the following circumstances:
a) You elect to increase the premium rates shown in Exhibit C, as discussed in Article V (Reinsurance Rates and Payments; or
b) We elect to recapture all business reinsured under this Agreement; or
c) We increase our quota share percentage shown in Exhibit A.
