LEAD REINSURER. Responsibility of the Lead Reinsurer The Lead Reinsurer for underwriting purposes is RGA Reinsurance Company. The Company may contact the Lead Reinsurer verbally or in writing on a case that otherwise falls within the automatic binding parameters when a second opinion of a medical, non-medical or financial nature is desired. The Company shall recommend a rating or course of action, and request that the Lead Reinsurer concur with that recommendation, thereby binding all pool members. In addition to making a decision to bind all pool members, the Lead Reinsurer may alternatively agree to accept their pool share only, recommend an alternate decision that would be acceptable to the pool, or recommend that the case be submitted facultatively to all pool members. With respect to the Lead Reinsurer’s ability to bind the other pool members, cases outside of the limits outlined below will be handled on a facultative basis as set forth in this Agreement. Maximum Issue Age: 80 Maximum Issued Face Amount: $25,000,000 THE REGISTRANT HAS APPLIED FOR CONFIDENTIAL TREATMENT OF CERTAIN TERMS IN THIS EXHIBIT WITH THE SECURITIES AND EXCHANGE COMMISSION. THE CONFIDENTIAL PORTIONS OF THIS EXHIBIT ARE MARKED WITH AN ASTERISK [*] AND HAVE BEEN OMITTED. THE OMITTED PORTIONS OF THIS EXHIBIT HAVE BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. YEARLY RENEWABLE TERM REINSURANCE AGREEMENT between XXXX XXXXXXX LIFE INSURANCE COMPANY (U.S.A.) of Lansing, Michigan and HANNOVER LIFE REASSURANCE COMPANY OF AMERICA of Orlando, Florida Effective Date of Agreement: April 1, 2015 Xxxx Xxxxxxx’x Reinsurance Agreement No: HI19C07 Reinsurer Agreement No: HA3506/JHUS-17 TABLE OF CONTENTS YEARLY RENEWABLE TERM REINSURANCE AGREEMENT 1 ARTICLE I DEFINITIONS 1 1. DEFINITIONS. 1 ARTICLE II REINSURANCE; REQUIREMENTS FOR REINSURANCE COVERAGE AND CESSIONS 3 1. REINSURANCE. 3 2. AUTOMATIC REINSURANCE COVERAGE AND CESSIONS. 3 3. FACULTATIVE REINSURANCE COVERAGE AND CESSIONS. 3 4. DATA NOTIFICATION. 4 ARTICLE III STATEMENT OF ACCOUNT 5 1. PREMIUM AND CLAIMS ACCOUNTING. 5 2. NON-PAYMENT OF PREMIUMS. 5 3. UNEARNED PREMIUM. 6 ARTICLE IV CHANGES TO BUSINESS REINSURED 7 1. CONVERSIONS. 7 2. CONVERSIONS WITH INCREASES. 7 3. POLICY CHANGES. 7 4. PLAN CHANGES. 7 5. INCREASE IN AMOUNT AND UNDERWRITING RECLASSIFICATION. 8 6. REDUCTIONS. 8 7. SPECIAL CHANGES. 8 8. LAPSES. 8 9. RESCISSIONS. 9 10. REINSTATEMENTS. 9 11. MINIMUM FINAL CESSION. 9 12. RETENTION LIMIT CHANGES. 9 ARTICLE V RECAPTURE 10 1. RECAPTURE TRIGGERING EVENTS. 10 2. FINANCIAL IMPAIRMENT, INSOLVENCY, FAILURE TO PAY, RESERVE CREDIT. 10 3. INCREASE IN REINSURANCE PREMIUM. 11 4. INCREASE IN RETENTION. 11 5. SUCCESSORS. 12 ARTICLE VI LIABILITY 13 1. AUTOMATIC REINSURANCE. 13 2. FACULTATIVE REINSURANCE. 13 3. DURATION. 13 4. TEMPORARY INSURANCE AGREEMENT. 13 ARTICLE VII CLAIMS 14 1. CLAIMS DECISION. 14 2. INITIAL NOTICE OF CLAIM. 14 3. CLAIM PROOFS. 14 4. CEDED CLAIM SETTLEMENTS. 14 5. CONTESTED CLAIMS. 14 6. CEDED BENEFITS PAYABLE. 15 7. MISSTATEMENT OF AGE OR SEX. 15 8. EXPENSES. 15 9. EXTRA CONTRACTUAL DAMAGES. 15 ARTICLE VIII DISPUTE RESOLUTION 16 1. ARBITRATION. 16 ARTICLE IX FINANCIAL IMPAIRMENT AND INSOLVENCY 17 1. FINANCIAL IMPAIRMENT OF REINSURER. 17 2. INSOLVENCY. 17 ARTICLE X TAXES & EXPENSES 19 1. DAC TAX. 19 2. THE REINSURER’S TAXES AND EXPENSES. 19 ARTICLE XI GENERAL PROVISIONS 20 1. ADMINISTRATION. 20 2. AMENDMENTS. 20 3. ASSIGNMENT. 20 4. BENEFIT. 20 5. COMPLIANCE. 20 6. CONDITIONS. 20 7. CONFIDENTIALITY. 20 8. CONSTRUCTION. 21 9. COUNTERPARTS. 21 10. DURATION OF AGREEMENT. 22 11. ENTIRE AGREEMENT. 22 12. GOOD FAITH. 22 13. LEAD POOL REINSURER. 22 14. LICENSES AND RESERVE CREDIT. 22 15. NOTICES. 22 16. OFAC. 22 17. OFFSET. 23 18. OVERSIGHTS. 23 19. PARTIES TO AGREEMENT. 23 20. REFERENCES. 23 21. REPRESENTATIONS AND WARRANTIES. 23 22. SEVERABILITY. 23 23. SURVIVAL. 24 24. WAIVER. 24 25. FOREIGN ACCOUNT TAX COMPLIANCE ACT. 24 EXHIBIT A 26 PLANS, RIDERS, AND BENEFITS REINSURED 26 EXHIBIT A-I 27 THE COMPANY’S UNDERWRITING FORMS, 27 EVIDENCE, AND ISSUE RULES 27 TEMPORARY INSURANCE AGREEMENT 27 EXHIBIT B 28 GENERAL PROVISIONS 28 EXHIBIT C 33 INSTRUCTIONS FOR ADMINISTRATION -YRT PREMIUM RATES 33 EXHIBIT D 52 YRT REINSURANCE RATES 52 EXHIBIT E 53 RETENTION LIMITS 53 EXHIBIT E-I 56 AUTOMATIC REINSURANCE POOL CAPACITY 56 EXHIBIT E-II 59 THE REINSURER’S AUTOMATIC ACCEPTANCE LIMITS 59 EXHIBIT E-III 60 JUMBO LIMIT 60 EXHIBIT F 61 REINSURANCE REPORTS 61 EXHIBIT G 64 DAC TAX ELECTION 64 EXHIBIT H 65 UNDERWRITING REQUIREMENTS FOR AUTOMATIC REINSURANCE 65 EXHIBIT I 66 LEAD REINSURER 66 YEARLY RENEWABLE TERM REINSURANCE AGREEMENT This Yearly Renewable Term Reinsurance Agreement (this “Agreement”) for reinsurance on an automatic and facultative basis is effective as of April 1, 2015 (the “Effective Date”) by and between Xxxx Xxxxxxx Life Insurance Company (U.S.A.) (the “Company”) and Hannover Life Reassurance Company of America (the “Reinsurer”).
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LEAD REINSURER. Responsibility of the Lead Reinsurer The Lead Reinsurer for underwriting purposes is RGA Reinsurance Company. The Company may contact the Lead Reinsurer verbally or in writing on a case that otherwise falls within the automatic binding parameters when a second opinion of a medical, non-medical or financial nature is desired. The Company shall recommend a rating or course of action, and request that the Lead Reinsurer concur with that recommendation, thereby binding all pool members. In addition to making a decision to bind all pool members, the Lead Reinsurer may alternatively agree to accept their pool share only, recommend an alternate decision that would be acceptable to the pool, or recommend that the case be submitted facultatively to all pool members. With respect to the Lead Reinsurer’s ability to bind the other pool members, cases outside of the limits outlined below will be handled on a facultative basis as set forth in this Agreement. Maximum Issue Age: 80 Maximum Issued Face Amount: $25,000,000 THE REGISTRANT HAS APPLIED FOR CONFIDENTIAL TREATMENT OF CERTAIN TERMS IN THIS EXHIBIT WITH THE SECURITIES AND EXCHANGE COMMISSION. THE CONFIDENTIAL PORTIONS OF THIS EXHIBIT ARE MARKED WITH AN ASTERISK [*] AND HAVE BEEN OMITTED. THE OMITTED PORTIONS OF THIS EXHIBIT HAVE BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. YEARLY RENEWABLE TERM REINSURANCE AGREEMENT between XXXX XXXXXXX LIFE INSURANCE COMPANY (U.S.A.) of Lansing, Michigan OF NEW YORK a New York Corporation and HANNOVER LIFE REASSURANCE COMPANY OF AMERICA of Orlando, Florida Effective Date of Agreement: April 1, 2015 Xxxx Xxxxxxx’x Reinsurance Agreement No: HI19C07 HI94C07 Reinsurer Agreement No: HA3506HA3507/JHUS-17 JHNY-07 TABLE OF CONTENTS YEARLY RENEWABLE TERM REINSURANCE AGREEMENT 1 ARTICLE I DEFINITIONS 1 1. DEFINITIONS. DEFINITIONS 1 ARTICLE II REINSURANCE; REQUIREMENTS FOR REINSURANCE COVERAGE AND CESSIONS 3 1. REINSURANCE. REINSURANCE 3 2. AUTOMATIC REINSURANCE COVERAGE AND CESSIONS. CESSIONS 3 3. FACULTATIVE REINSURANCE COVERAGE AND CESSIONS. CESSIONS 3 4. DATA NOTIFICATION. NOTIFICATION 4 ARTICLE III STATEMENT OF ACCOUNT 5 1. PREMIUM AND CLAIMS ACCOUNTING. ACCOUNTING 5 2. NON-PAYMENT OF PREMIUMS. PREMIUMS 5 3. UNEARNED PREMIUM. PREMIUM 6 ARTICLE IV CHANGES TO BUSINESS REINSURED 7 1. CONVERSIONS. CONVERSIONS 7 2. CONVERSIONS WITH INCREASES. INCREASES 7 3. POLICY CHANGES. CHANGES 7 4. PLAN CHANGES. CHANGES 7 5. INCREASE IN AMOUNT AND UNDERWRITING RECLASSIFICATION. RECLASSIFICATION 8 6. REDUCTIONS. REDUCTIONS 8 7. SPECIAL CHANGES. CHANGES 8 8. LAPSES. LAPSES 8 9. RESCISSIONS. RESCISSIONS 9 10. REINSTATEMENTS. REINSTATEMENTS 9 11. MINIMUM FINAL CESSION. CESSION 9 12. RETENTION LIMIT CHANGES. CHANGES 9 ARTICLE V RECAPTURE 10 1. RECAPTURE TRIGGERING EVENTS. EVENTS 10 2. FINANCIAL IMPAIRMENT, INSOLVENCY, FAILURE TO PAY, RESERVE CREDIT. CREDIT 10 3. INCREASE IN REINSURANCE PREMIUM. PREMIUM 11 4. INCREASE IN RETENTION. RETENTION 11 5. SUCCESSORS. SUCCESSORS 12 ARTICLE VI LIABILITY 13 1. AUTOMATIC REINSURANCE. REINSURANCE 13 2. FACULTATIVE REINSURANCE. REINSURANCE 13 3. DURATION. DURATION 13 4. TEMPORARY INSURANCE AGREEMENT. AGREEMENT 13 ARTICLE VII CLAIMS 14 1. CLAIMS DECISION. DECISION 14 2. INITIAL NOTICE OF CLAIM. CLAIM 14 3. CLAIM PROOFS. PROOFS 14 4. CEDED CLAIM SETTLEMENTS. SETTLEMENTS 14 5. CONTESTED CLAIMS. CLAIMS 14 6. CEDED BENEFITS PAYABLE. PAYABLE 15 7. MISSTATEMENT OF AGE OR SEX. SEX 15 8. EXPENSES. EXPENSES 15 9. EXTRA CONTRACTUAL DAMAGES. DAMAGES 15 ARTICLE VIII DISPUTE RESOLUTION 16 1. ARBITRATION. ARBITRATION 16 ARTICLE IX FINANCIAL IMPAIRMENT AND INSOLVENCY 17 1. FINANCIAL IMPAIRMENT OF REINSURER. REINSURER 17 2. INSOLVENCY. INSOLVENCY 17 ARTICLE X TAXES & EXPENSES 19 1. DAC TAX. TAX 19 2. THE REINSURER’S TAXES AND EXPENSES. EXPENSES 19 ARTICLE XI GENERAL PROVISIONS 20 1. ADMINISTRATION. ADMINISTRATION 20 2. AMENDMENTS. AMENDMENTS 20 3. ASSIGNMENT. ASSIGNMENT 20 4. BENEFIT. BENEFIT 20 5. COMPLIANCE. COMPLIANCE 20 6. CONDITIONS. CONDITIONS 20 7. CONFIDENTIALITY. CONFIDENTIALITY 20 8. CONSTRUCTION. CONSTRUCTION 21 9. COUNTERPARTS. COUNTERPARTS 21 10. DURATION OF AGREEMENT. AGREEMENT 22 11. ENTIRE AGREEMENT. AGREEMENT 22 12. GOOD FAITH. FAITH 22 13. LEAD POOL REINSURER. REINSURER 22 14. LICENSES AND RESERVE CREDIT. CREDIT 22 15. NOTICES. NOTICES 22 16. OFAC. OFAC 22 17. OFFSET. OFFSET 23 18. OVERSIGHTS. OVERSIGHTS 23 19. PARTIES TO AGREEMENT. AGREEMENT 23 20. REFERENCES. REFERENCES 23 21. REPRESENTATIONS AND WARRANTIES. WARRANTIES 23 22. SEVERABILITY. SEVERABILITY 23 23. SURVIVAL. SURVIVAL 24 24. WAIVER. WAIVER 24 25. FOREIGN ACCOUNT TAX COMPLIANCE ACT. ACT 24 EXHIBIT A 26 PLANS, RIDERS, AND BENEFITS REINSURED 26 EXHIBIT A-I 27 THE COMPANY’S UNDERWRITING FORMS, 27 EVIDENCE, AND ISSUE RULES 27 TEMPORARY INSURANCE AGREEMENT 27 EXHIBIT B 28 GENERAL PROVISIONS 28 EXHIBIT C 33 INSTRUCTIONS FOR ADMINISTRATION -YRT PREMIUM RATES 33 EXHIBIT D 52 YRT REINSURANCE RATES 52 EXHIBIT E 53 RETENTION LIMITS 53 EXHIBIT E-I 56 AUTOMATIC REINSURANCE POOL CAPACITY 56 EXHIBIT E-II 59 58 THE REINSURER’S AUTOMATIC ACCEPTANCE LIMITS 59 58 EXHIBIT E-III 60 59 JUMBO LIMIT 59 EXHIBIT F 60 REINSURANCE REPORTS 60 EXHIBIT F 61 REINSURANCE REPORTS 61 EXHIBIT G 64 63 DAC TAX ELECTION 64 63 EXHIBIT H 65 64 UNDERWRITING REQUIREMENTS FOR AUTOMATIC REINSURANCE 65 64 EXHIBIT I 66 65 LEAD REINSURER 66 65 YEARLY RENEWABLE TERM REINSURANCE AGREEMENT This Yearly Renewable Term Reinsurance Agreement (this “Agreement”) for reinsurance on an automatic and facultative basis is effective as of April 1, 2015 (the “Effective Date”) by and between Xxxx Xxxxxxx Life Insurance Company (U.S.A.) (the “Company”) and Hannover Life Reassurance Company of America (the “Reinsurer”).
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LEAD REINSURER. Responsibility of the Lead Reinsurer The Lead Reinsurer for underwriting purposes is RGA Reinsurance Company. The Company may contact the Lead Reinsurer verbally or in writing on a case that otherwise falls within the automatic binding parameters when a second opinion of a medical, non-medical or financial nature is desired. The Company shall recommend a rating or course of action, and request that the Lead Reinsurer concur with that recommendation, thereby binding all pool members. In addition to making a decision to bind all pool members, the Lead Reinsurer may alternatively agree to accept their pool share only, recommend an alternate decision that would be acceptable to the pool, or recommend that the case be submitted facultatively to all pool members. With respect to the Lead Reinsurer’s ability to bind the other pool members, cases outside of the limits outlined below will be handled on a facultative basis as set forth in this Agreement. Maximum Issue Age: 80 Maximum Issued Face Amount: $25,000,000 THE REGISTRANT HAS APPLIED FOR CONFIDENTIAL TREATMENT OF CERTAIN TERMS IN THIS EXHIBIT WITH THE SECURITIES AND EXCHANGE COMMISSION. THE CONFIDENTIAL PORTIONS OF THIS EXHIBIT ARE MARKED WITH AN ASTERISK [*] AND HAVE BEEN OMITTED. THE OMITTED PORTIONS OF THIS EXHIBIT HAVE BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. YEARLY RENEWABLE TERM REINSURANCE AGREEMENT between XXXX XXXXXXX LIFE INSURANCE COMPANY (U.S.A.) of Lansing, Michigan and HANNOVER LIFE REASSURANCE RGA REINSURANCE COMPANY OF AMERICA of OrlandoChesterfield, Florida Missouri Effective Date of Agreement: April 1, 2015 Xxxx Xxxxxxx’x Reinsurance Agreement No: HI19C07 GA19C18 Reinsurer Agreement No: HA3506/JHUS-17 00000-00-00 TABLE OF CONTENTS YEARLY RENEWABLE TERM REINSURANCE AGREEMENT 1 ARTICLE I DEFINITIONS 1 1. DEFINITIONS. 1 ARTICLE II REINSURANCE; REQUIREMENTS FOR REINSURANCE COVERAGE AND CESSIONS 3 1. REINSURANCE. 3 2. AUTOMATIC REINSURANCE COVERAGE AND CESSIONS. 3 3. FACULTATIVE REINSURANCE COVERAGE AND CESSIONS. 3 4. DATA NOTIFICATION. 4 ARTICLE III STATEMENT OF ACCOUNT 5 1. PREMIUM AND CLAIMS ACCOUNTING. 5 2. NON-PAYMENT OF PREMIUMS. 5 3. UNEARNED PREMIUM. 6 ARTICLE IV CHANGES TO BUSINESS REINSURED 7 1. CONVERSIONS. 7 2. CONVERSIONS WITH INCREASES. 7 3. POLICY CHANGES. 7 4. PLAN CHANGES. 7 5. INCREASE IN AMOUNT AND UNDERWRITING RECLASSIFICATION. RECLASSIFICATION 8 6. REDUCTIONS. 8 7. SPECIAL CHANGES. 8 8. LAPSES. 8 9. RESCISSIONS. 9 10. REINSTATEMENTS. 9 11. MINIMUM FINAL CESSION. 9 12. RETENTION LIMIT CHANGES. 9 ARTICLE V RECAPTURE 10 1. RECAPTURE TRIGGERING EVENTS. 10 2. FINANCIAL IMPAIRMENT, INSOLVENCY, FAILURE TO PAY, RESERVE CREDIT. 10 3. INCREASE IN REINSURANCE PREMIUM. 11 4. INCREASE IN RETENTION. 11 5. SUCCESSORS. 12 ARTICLE VI LIABILITY 13 1. AUTOMATIC REINSURANCE. 13 2. FACULTATIVE REINSURANCE. 13 3. DURATION. 13 4. TEMPORARY INSURANCE AGREEMENT. 13 ARTICLE VII CLAIMS 14 1. CLAIMS DECISION. 14 2. INITIAL NOTICE OF CLAIM. 14 3. CLAIM PROOFS. 14 4. CEDED CLAIM SETTLEMENTSCeded Claim Settlements. 14 5. CONTESTED CLAIMS. 14 6. CEDED BENEFITS PAYABLE. 15 7. MISSTATEMENT OF AGE OR SEX. 15 8. EXPENSES. 15 9. EXTRA CONTRACTUAL DAMAGES. 15 ARTICLE VIII DISPUTE RESOLUTION 16 1. ARBITRATION. 16 ARTICLE IX FINANCIAL IMPAIRMENT AND INSOLVENCY 17 18 1. FINANCIAL IMPAIRMENT OF REINSURER. 17 18 2. INSOLVENCY. 17 18 ARTICLE X TAXES & EXPENSES 19 20 1. DAC TAX. 19 20 2. THE REINSURER’S TAXES AND EXPENSES. 19 20 3. THE FOREIGNACCOUNT TAX COMPLIANCE ACT (FATCA). 20 ARTICLE XI GENERAL PROVISIONS 20 21 1. ADMINISTRATION. 20 21 2. AMENDMENTS. 20 21 3. ASSIGNMENT. 20 21 4. BENEFIT. 20 21 5. COMPLIANCE. 20 21 6. CONDITIONS. 20 21 7. CONFIDENTIALITY. 20 21 8. CONSTRUCTION. 21 22 9. COUNTERPARTS. 21 23 10. DURATION OF AGREEMENT. 22 23 11. ENTIRE AGREEMENT. 22 23 12. GOOD FAITH. 22 23 13. LEAD POOL REINSURER. 22 23 14. LICENSES AND RESERVE CREDIT. 22 23 15. NOTICES. 22 23 16. OFAC. 22 24 17. OFFSET. 23 24 18. OVERSIGHTS. 23 24 19. PARTIES TO AGREEMENT. 23 24 20. REFERENCES. 23 24 21. REPRESENTATIONS AND WARRANTIES. 23 24 22. SEVERABILITY. 23 25 23. SURVIVAL. 24 25 24. WAIVER. 24 25. FOREIGN ACCOUNT TAX COMPLIANCE ACT. 24 25 EXHIBIT A 26 27 PLANS, RIDERS, AND BENEFITS REINSURED 26 27 EXHIBIT A-I 27 28 THE COMPANY’S UNDERWRITING FORMS, 27 28 EVIDENCE, AND ISSUE RULES 27 TEMPORARY INSURANCE AGREEMENT 27 28 EXHIBIT B 28 29 GENERAL PROVISIONS 28 29 EXHIBIT C 33 34 INSTRUCTIONS FOR ADMINISTRATION -YRT PREMIUM RATES 33 34 EXHIBIT D 52 41 YRT REINSURANCE RATES 52 41 EXHIBIT E 53 42 RETENTION LIMITS 53 42 EXHIBIT E-I 56 46 AUTOMATIC REINSURANCE POOL CAPACITY 56 46 EXHIBIT E-II 59 48 THE REINSURER’S AUTOMATIC ACCEPTANCE LIMITS 59 48 EXHIBIT E-III 60 50 JUMBO LIMIT 60 50 EXHIBIT F 61 52 REINSURANCE REPORTS 61 52 EXHIBIT G 64 55 DAC TAX ELECTION 64 55 EXHIBIT H 65 56 UNDERWRITING REQUIREMENTS FOR AUTOMATIC REINSURANCE 65 56 EXHIBIT I 66 57 LEAD REINSURER 66 57 YEARLY RENEWABLE TERM REINSURANCE AGREEMENT This Yearly Renewable Term Reinsurance Agreement (this “Agreement”) for reinsurance on an automatic and facultative basis is effective as of April 1, 2015 (the “Effective Date”) by and between Xxxx Xxxxxxx Life Insurance Company (U.S.A.) (the “Company”) and Hannover Life Reassurance RGA Reinsurance Company of America (the “Reinsurer”).
Appears in 1 contract
LEAD REINSURER. Responsibility of the Lead Reinsurer The Lead Reinsurer for underwriting purposes is RGA Reinsurance Company. The Company may contact the Lead Reinsurer verbally or in writing on a case that otherwise falls within the automatic binding parameters when a second opinion of a medical, non-medical or financial nature is desired. The Company shall recommend a rating or course of action, and request that the Lead Reinsurer concur with that recommendation, thereby binding all pool members. In addition to making a decision to bind all pool members, the Lead Reinsurer may alternatively agree to accept their pool share only, recommend an alternate decision that would be acceptable to the pool, or recommend that the case be submitted facultatively to all pool members. With respect to the Lead Reinsurer’s ability to bind the other pool members, cases outside of the limits outlined below will be handled on a facultative basis as set forth in this Agreement. Maximum Issue Age: 80 Maximum Issued Face Amount: $25,000,000 THE REGISTRANT HAS APPLIED FOR CONFIDENTIAL TREATMENT OF CERTAIN TERMS IN THIS EXHIBIT WITH THE SECURITIES AND EXCHANGE COMMISSION. THE CONFIDENTIAL PORTIONS OF THIS EXHIBIT ARE MARKED WITH AN ASTERISK [*] AND HAVE BEEN OMITTED. THE OMITTED PORTIONS OF THIS EXHIBIT HAVE BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. YEARLY RENEWABLE TERM REINSURANCE AGREEMENT between XXXX XXXXXXX LIFE INSURANCE COMPANY (U.S.A.) OF NEW YORK a New York Corporation and RGA REINSURANCE COMPANY of LansingChesterfield, Michigan and HANNOVER LIFE REASSURANCE COMPANY OF AMERICA of Orlando, Florida Missouri Effective Date of Agreement: April 1, 2015 Xxxx Xxxxxxx’x Reinsurance Agreement No: HI19C07 GA94C19 Reinsurer Agreement No: HA3506/JHUS-17 00000-00-00 TABLE OF CONTENTS YEARLY RENEWABLE TERM REINSURANCE AGREEMENT 1 ARTICLE I DEFINITIONS 1 1. DEFINITIONS. 1 ARTICLE II REINSURANCE; REQUIREMENTS FOR REINSURANCE COVERAGE AND CESSIONS 3 1. REINSURANCE. 3 2. AUTOMATIC REINSURANCE COVERAGE AND CESSIONS. 3 3. FACULTATIVE REINSURANCE COVERAGE AND CESSIONS. 3 4. DATA NOTIFICATION. 4 ARTICLE III STATEMENT OF ACCOUNT 5 1. PREMIUM AND CLAIMS ACCOUNTING. 5 2. NON-PAYMENT OF PREMIUMS. 5 3. UNEARNED PREMIUM. 6 ARTICLE IV CHANGES TO BUSINESS REINSURED 7 1. CONVERSIONS. 7 2. CONVERSIONS WITH INCREASES. 7 3. POLICY CHANGES. 7 4. PLAN CHANGES. 7 5. INCREASE IN AMOUNT AND UNDERWRITING RECLASSIFICATION. RECLASSIFICATION 8 6. REDUCTIONS. 8 7. SPECIAL CHANGES. 8 8. LAPSES. 8 9. RESCISSIONS. 9 10. REINSTATEMENTS. 9 11. MINIMUM FINAL CESSION. 9 12. RETENTION LIMIT CHANGES. 9 ARTICLE V RECAPTURE 10 1. RECAPTURE TRIGGERING EVENTS. 10 2. FINANCIAL IMPAIRMENT, INSOLVENCY, FAILURE TO PAY, RESERVE CREDIT. 10 3. INCREASE IN REINSURANCE PREMIUM. 11 4. INCREASE IN RETENTION. 11 5. SUCCESSORS. 12 ARTICLE VI LIABILITY 13 1. AUTOMATIC REINSURANCE. 13 2. FACULTATIVE REINSURANCE. 13 3. DURATION. 13 4. TEMPORARY INSURANCE AGREEMENT. 13 ARTICLE VII CLAIMS 14 1. CLAIMS DECISION. 14 2. INITIAL NOTICE OF CLAIM. 14 3. CLAIM PROOFS. 14 4. CEDED CLAIM SETTLEMENTS. 14 5. CONTESTED CLAIMS. 14 6. CEDED BENEFITS PAYABLE. 15 7. MISSTATEMENT OF AGE OR SEX. 15 8. EXPENSES. 15 9. EXTRA CONTRACTUAL DAMAGES. 15 ARTICLE VIII DISPUTE RESOLUTION 16 1. ARBITRATION. 16 ARTICLE IX FINANCIAL IMPAIRMENT AND INSOLVENCY 17 18 1. FINANCIAL IMPAIRMENT OF REINSURER. 17 18 2. INSOLVENCY. 17 18 ARTICLE X TAXES & EXPENSES 19 20 1. DAC TAX. 19 20 2. THE REINSURER’S TAXES AND EXPENSES. 19 20 3. THE FOREIGNACCOUNT TAX COMPLIANCE ACT (FATCA) 20 ARTICLE XI GENERAL PROVISIONS 20 21 1. ADMINISTRATION. 20 21 2. AMENDMENTS. 20 21 3. ASSIGNMENT. 20 21 4. BENEFIT. 20 21 5. COMPLIANCE. 20 21 6. CONDITIONS. 20 21 7. CONFIDENTIALITY. 20 21 8. CONSTRUCTION. 21 22 9. COUNTERPARTS. 21 23 10. DURATION OF AGREEMENT. 22 23 11. ENTIRE AGREEMENT. 22 23 12. GOOD FAITH. 22 23 13. LEAD POOL REINSURER. 22 23 14. LICENSES AND RESERVE CREDIT. 22 23 15. NOTICES. 22 23 16. OFAC. 22 24 17. OFFSET. 23 24 18. OVERSIGHTS. 23 24 19. PARTIES TO AGREEMENT. 23 24 20. REFERENCES. 23 24 21. REPRESENTATIONS AND WARRANTIES. 23 24 22. SEVERABILITY. 23 25 23. SURVIVAL. 24 25 24. WAIVER. 24 25. FOREIGN ACCOUNT TAX COMPLIANCE ACT. 24 25 EXHIBIT A 26 27 PLANS, RIDERS, AND BENEFITS REINSURED 26 27 EXHIBIT A-I 27 28 THE COMPANY’S UNDERWRITING FORMS, 27 28 EVIDENCE, AND ISSUE RULES 27 TEMPORARY INSURANCE AGREEMENT 27 28 EXHIBIT B 28 29 GENERAL PROVISIONS 28 29 EXHIBIT C 33 34 INSTRUCTIONS FOR ADMINISTRATION -YRT PREMIUM RATES 33 34 EXHIBIT D 52 41 YRT REINSURANCE RATES 52 41 EXHIBIT E 53 42 RETENTION LIMITS 53 42 EXHIBIT E-I 56 46 AUTOMATIC REINSURANCE POOL CAPACITY 56 46 EXHIBIT E-II 59 48 THE REINSURER’S AUTOMATIC ACCEPTANCE LIMITS 59 48 EXHIBIT E-III 60 50 JUMBO LIMIT 60 50 EXHIBIT F 61 52 REINSURANCE REPORTS 61 52 EXHIBIT G 64 55 DAC TAX ELECTION 64 55 EXHIBIT H 65 56 UNDERWRITING REQUIREMENTS FOR AUTOMATIC REINSURANCE 65 56 EXHIBIT I 66 57 LEAD REINSURER 66 57 YEARLY RENEWABLE TERM REINSURANCE AGREEMENT This Yearly Renewable Term Reinsurance Agreement (this “Agreement”) for reinsurance on an automatic and facultative basis is effective as of April 1, 2015 (the “Effective Date”) by and between Xxxx Xxxxxxx Life Insurance Company (U.S.A.) (the “Company”) and Hannover Life Reassurance RGA Reinsurance Company of America (the “Reinsurer”).
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