Method of Recapture. You will give us written notice of your intention to recapture within ninety days of the effective date of your retention or pool percentage increase. If you elect to recapture at a later date, you will give us additional written notice before you begin the recapture. When you have given us written notice of your intent to recapture, and the date that the recapture will begin:
a) All eligible policies will be recaptured;
b) Reinsurance will be reduced on the next anniversary date of each eligible policy;
c) Reinsurance on each eligible policy will be reduced by an amount that will increase your retention or pool percentage to the current limit set forth in Exhibit A. If you increase your retention or the stated pool percentage shown in Exhibit A, the percentage of the risk reinsured will reduce proportionately. If reinsurance was placed with more than one reinsurer, each reinsurer's percentage will be reduced in the same proportion that each reinsurer's original percentage bore to the total percentage reinsured.
d) If there is reinsurance in force in other companies on any one insured life, the reduction of the reinsurance in force under this Agreement will be in the same proportion that the amount reinsured with us bears to the total reinsurance on the life;
e) If at the time of recapture the insured is disabled and premiums are being waived under any type of disability Benefit Rider, only the life benefit will be recaptured. The reinsured portion of the Disability Benefit rider will remain in force until the policy is returned to premium-paying status, at which time it will be eligible for recapture. If you omit or overlook the recapture of any eligible policy or policies, our acceptance of reinsurance payments after the date the recapture would have taken place will not cause us to be liable for the amount of the risk that would have been recaptured. We will be liable only for a refund of reinsurance payments received, without interest. If your retention increase is due to your purchase by or purchase of another company, or your merger, assumption or any other affiliation with another company, no immediate recapture will be allowed. However, you may recapture eligible policies once the Recapture Period set out in Exhibit B has expired.
Method of Recapture. If the Company elects to recapture, the Company will notify Life Re in writing within ninety days from the effective date of the increase in its limit of retention. If the Company elects to recapture one Reinsured Policy under this provision, the Company must recapture every Reinsured Policy that meets the requirements set forth in Article IX, Section 1, above. Recapture for each Reinsured Policy will occur on the later to occur of (a) the next anniversary of the Reinsured Policy or (b) the tenth (10th) anniversary of the Reinsured Policy. The amount of reinsurance on the Reinsured Policy will be reduced so that the total amount of risk retained by the Company will be equal to the Company's maximum limit of retention. If two or more reinsurers have reinsurance on the same Reinsured Policy, Life Re's portion of the reduction will be in proportion to Life Re's share of the total reinsurance on the Reinsured Policy.
Method of Recapture. We will give you written notice of our intention to recapture and the effective date that the recapture will occur. If the basis for recapture is other than a rate increase, as described in paragraph 1 .a) above, such notice will be at least ninety days prior to the effective date. If we elect to recapture all business reinsured under this Agreement, as described in paragraphs l.a) or l.b) above, all reinsurance will be terminated as of the effective date. If recapture is the result of an increase in our quota share percentage, as described in paragraph 1 x), the risk reinsured will be reduced proportionately as of the effective date. If we omit or overlook the recapture of any eligible policy or policies, your acceptance of reinsurance payments after the date the recapture would have taken place will not cause you to be liable for the amount of the risk that would have been recaptured. You will be liable only for a refund of reinsurance payments received, without interest.
Method of Recapture. We will give you written notice of our intention to recapture with the statement of account following the effective date of the increase in our retention limits. If we elect to recapture at a later date, we will give you additional written notice before we begin the recapture.
Method of Recapture. If we elect to recapture because you have increased reinsurance rates, 1.a) above, the recapture will be effective as of the effective date of the rate increase, regardless of issue date. If we elect to recapture all business reinsured under this Agreement, 1.b) above, we will give you written notice of our intent to recapture and the effective date that the recapture will occur. Such notice will be at least ninety days prior to the effective date of the recapture. If we omit or overlook the recapture of any eligible policy or policies, your acceptance of reinsurance premiums after the date the recapture would have taken place will not cause you to be liable for the amount of the risk that would have been recaptured. You will be liable only to refund any such reinsurance premiums received, without interest.
Method of Recapture. If we give you written notice of our intention to recapture due to an increase in our quota share percentage, we will do so within ninety days of the effective date of our quota share percentage increase. However, the prior sentence not withstanding, we may elect to recapture at a later date, provided we give you written notice before we begin the recapture. When we have given you written notice of our intent to recapture, and the date that we will begin the process of recapture:
a) All eligible policies will be recaptured;
b) The effective date of the recapture will be the next anniversary date of each eligible policy;
c) Reinsurance on each eligible policy will be reduced by an amount that will increase our quota share percentage to the current limit set forth in Exhibit A. If we increase our stated quota share percentage shown in Exhibit A, the percentage of the risk reinsured will reduce proportionately. If reinsurance was placed with more than one reinsurer, each reinsurer’s percentage will be reduced in the same proportion that each reinsurer’s original percentage bore to the total percentage reinsured.
Method of Recapture. If we omit or overlook the recapture of any eligible policy or policies, your acceptance of reinsurance premiums after the date the recapture would have taken place will not cause you to be liable for the amount of the risk that would have been recaptured. You will be liable only to refund any such reinsurance premiums received, without interest. Quota share percentage increases due to our purchase by or purchase of another company, or our merger, assumption or any other affiliation with another company shall not be recognized for recapturing purposes under this article for a period of no less than five years from the effective date of such merger or acquisition.
Method of Recapture. You will give us written notice of your intention to recapture within ninety days of the effective date of your retention increase. If you elect to recapture at a later date, you will give us additional written notice before you begin the recapture. When you have given us written notice of your intent to recapture, and the date that the recapture will begin:
a) All eligible policies will be recaptured;
b) Reinsurance will be reduced on the next anniversary date of each eligible policy;
Method of Recapture. If you have given us written notice of your intent to recapture, and the date when recapture will begin, you may reduce the amount of reinsurance on eligible policies on the next following policy anniversary date, subject to the following:
3.1 All eligible policies must be recaptured;
3.2 The amount eligible for recapture is equal to the difference between (i) the amount you originally retained, and (ii) the amount you would have retained, based on the Percentage Retention Limit in effect at the time of issue, had the new Dollar Retention Limit been in effect at the time of issue;
Method of Recapture. You will give us written notice of your intention to recapture within ninety days of the effective date of your retention increase. If you elect to recapture at a later date, you will give us additional written notice before you begin the recapture. When you have given us written notice of your intent to recapture, and the date that the recapture will begin:
a) All eligible policies as described in Exhibit A will be recaptured;
b) Reinsurance will be reduced on the next anniversary date of each eligible policy;
c) Reinsurance on each eligible policy will be reduced by an amount that will increase your retention to the current limit set forth in Exhibit A.
d) If there is reinsurance in force in other companies on any one insured life, the reduction of the reinsurance in force under this Agreement will be in the same proportion that the amount reinsured with us bears to the total reinsurance on the life. If you omit or overlook the recapture of any eligible policy or policies, our acceptance of reinsurance payments after the date the recapture would have taken place will not cause us to be liable for the amount of the risk that would have been recaptured. We will be liable only for a refund of reinsurance payments received, without interest. If your retention increase is due to your purchase by or purchase of another company, or your merger, assumption or any other affiliation with another company, no immediate recapture will be allowed. However, you may recapture eligible policies once the Recapture Period set out in Exhibit C, Section IX. has expired.
