RECAPTURE PRIVILEGES. A. The Cedent may recapture existing cessions in force in accordance with the following rules:
1. The Cedent shall notify the Reinsurer of its intention to recapture at least ninety (90) days prior to any recapture.
2. The Cedent may not recapture a cession unless this Agreement shall have been in force for fifteen (15) years, as measured from the Effective Date until the date of recapture.
3. The recapture shall apply to all cessions in force under this Agreement.
4. The recapture shall be mutually agreed upon by the Cedent and the Reinsurer.
5. Recapture shall take place ratably over a thirty-six (36) month period (i.e., each month, the initial percentage reduces 2.78% times the initial percentage). The election to recapture shall be irrevocable.
RECAPTURE PRIVILEGES. The CEDING COMPANY may recapture existing reinsurance in force in accordance with the following rules:
A. The CEDING COMPANY will notify the REINSURER of its intent to recapture at least ninety (90) days prior to any recaptures.
B. No recapture will be made unless reinsurance has been in force for fifteen (15) years.
C. Recapture will only be available provided the total carry-forward, upon the release of reserves, is in a positive position. The total carry-forward is defined as the sum of the carry-forwards of this Agreement and the complementary GMIB Agreement, if any, that reinsures the same related contracts.
D. The carry-forward for each Agreement is defined as the current period's reinsurance premium, minus all reinsurance claims paid under this Agreement, minus a two-and-one-half (2.5) basis points annual expense allowance applied against the average aggregate Account Value, minus the change in treaty reserves, plus last period's loss carry-forward. The carry-forward amount is accumulated at the ninety (90) day Federal Government Treasury Xxxx rate as published in the Wall Street Journal on the first business day of the current period plus two percent (2%).
E. Upon election, recapture shall occur ratably over a thirty-six (36) month period (i.e., every month the initial quota-share percentage reduces 2.78% times the initial quota-share percentage). It is irrevocable once elected.
F. It is the responsibility of the REINSURER to determine the carry-forward, based on the method described above. Hartford Life, Agreement No. 2000-24NYDB Effective May 8, 2000
RECAPTURE PRIVILEGES. 12 Article X.
RECAPTURE PRIVILEGES. A. The Cedent may recapture existing cessions in force in accordance with the following rules:
1. The Cedent shall notify the Reinsurer of its intention to recapture at least ninety (90) days prior to any recapture.
2. The Cedent may not recapture a cession unless this Agreement shall have been in force for fifteen (15) years, as measured from the Effective Date until the date of recapture.
3. The recapture shall apply to all cessions in force under this Agreement.
4. Recapture shall take place ratably over a thirty-six (36) month period (i.e., each month, the initial percentage reduces 2.78% times the initial percentage). The election to recapture shall be irrevocable.
RECAPTURE PRIVILEGES. A. If the CEDING COMPANY increases its limit of retention, a corresponding reduction may be made at the option of the CEDING COMPANY in the reinsurance in force on all lives on which the CEDING COMPANY had its maximum limit of retention at the time reinsurance was ceded. The CEDING COMPANY may recapture existing reinsurance in force in accordance with the rules set forth in this Article IX.
B. The CEDING COMPANY will notify the REINSURER of its intent to recapture at least ninety (90) days prior to any recaptures.
C. No recapture will be made unless reinsurance has been in force for fifteen (15) years, as measured from the EFFECTIVE DATE.
D. The recapture shall apply to all the eligible reinsurance in force under the Agreement.
E. If the CEDING COMPANY elects to recapture, the CEDING COMPANY shall commence a recapture of the reinsurance whereby each contract reinsured hereunder is reduced or recaptured on its fifteenth (15th) contract anniversary, measured from the original issue date of the contract.
F. If at the time of recapture the risk is on active claim for any cause the reinsurance shall remain in force until such time as the contract may be returned to a premium-paying status. The Disability or Unemployment risk shall be recaptured upon such return to premium-paying status. If within thirty days of said recapture the Disability or Unemployment claim is resumed according to the terms of the rider, due to an extension of the initial disablement or unemployment status, the REINSURER shall again be liable for payment of its share of SPP waived by the CEDING COMPANY, subject to collection of reinsurance premiums on the REINSURER's share of the risk for the period in which the contract was in a premium-paying status. -------------------------------------------------------------------------------- GE Life and Annuity Assurance Co., Agreement No. Page 14 Effective February 15, 2002
RECAPTURE PRIVILEGES. A. The CEDING COMPANY may recapture existing reinsurance in force in accordance with the following rules:
B. The CEDING COMPANY will notify the REINSURER of its intent to recapture at least ninety (90) days prior to any recaptures.
C. No recapture will be made unless reinsurance has been in force for fifteen (15) years, as measured from the EFFECTIVE DATE , or on some other date if mutually agreed to by both parties.
D. The recapture shall apply to all the reinsurance in force under the Agreement.
E. Recapture will only be available provided the total carryforward, upon release of treaty reserves, is in a positive position. The total carryforward is defined as the sum of the carryforwards of this Agreement and the complementary death benefits agreement, No. 2001-47, that reinsures the same variable annuity contracts specified in Schedule A.
F. The carryforward for each Agreement is defined as the current period's reinsurance premium, minus all reinsurance claims paid under this Agreement for the current period, minus a [*] annual expense allowance applied against the average aggregate Account Value for the current period, minus the change in treaty reserves from the prior period to the current period, plus the prior period's carryforward. The monthly carryforward amount is accumulated at the [*] rate as published in the Wall Street Journal on the first business day of the current period plus [*].
RECAPTURE PRIVILEGES. A. The Retrocedent may recapture existing retrocessions in force in accordance with the following rules:
1. The Retrocedent shall notify the Retrocessionaire of its intention to recapture at least ninety (90) days prior to any recapture.
2. The Retrocedent may not recapture a retrocession unless this Agreement shall have been in force for fifteen (15) years, as measured from the Effective Date until the date of recapture.
3. The recapture shall apply to all retrocessions in force under this Agreement.
4. Recapture shall be available only provided the total carry-forward, upon release of Reserves hereunder, shall then be a positive amount. The total carry-forward shall be the sum of the carry-forwards outstanding as of that date under this Agreement that apply to the Reinsured Contracts specified in Schedule A.
5. The carry-forward for each Agreement shall be (a) the current period Retrocession Premium minus (b) all retrocession benefit claims paid thereto for the current period minus (c) a two-and-one-half (2.5) basis point annual expense allowance applied against the average aggregate Account Value for the current period minus (d) the change in Reserves from the prior period to the current period plus (e) the prior period’s loss carry-forward. The monthly carry-forward amount shall be accumulated at the ninety-(90) day federal Treasury Xxxx rate as published in The Wall Street Journal on the first business day of the current period plus two percent (2%).
6. Recapture shall take place ratably over a thirty-six (36) month period (i.e., each month, the initial percentage reduces 2.78% times the initial percentage). The election to recapture shall be irrevocable.
B. The Retrocedent and the Retrocessionaire shall exchange carry-forward calculations within ninety (90) days after each year-end and shall promptly seek to resolve any differences as to outstanding carry-forward amounts.
RECAPTURE PRIVILEGES. 10 X. Terminations and Reductions .................................. 11 XI. Reinstatement, Continuations, Extended Term and Reduced Paid-Up Insurance ......................... 12
RECAPTURE PRIVILEGES. Recapture can only be effected upon mutual consent and upon receiving any regulatory approvals required by the Connecticut Insurance Department or any other applicable regulator.
RECAPTURE PRIVILEGES. A. The CEDING COMPANY may recapture existing reinsurance in force in accordance with the rules set forth in this Article IX.
B. The CEDING COMPANY will notify the REINSURER of its intent to recapture at least ninety (90) days prior to any recaptures.
C. No recapture will be made [redacted], as measured from the EFFECTIVE DATE, unless the parties mutually agree to a shorter period of time.
D. The recapture shall apply to all the reinsurance in force under the Agreement.
E. [redacted]. The total carryforward is defined as the sum of the carryforwards of this Agreement and the complementary living benefits agreements, Agreement No. [redacted] and Agreement No. [redacted], that reinsure the same variable annuity policy forms specified in Schedule A.
F. The carryforward for each Agreement is defined as the relevant period's reinsurance premium [redacted] Each period utilized for purposes of this paragraph shall be an annual period measured from the anniversary date of this Agreement, except that the final period shall be the most recent anniversary date to the date of notification of recapture.
G. Upon election, [redacted]
H. The CEDING COMPANY and the REINSURER agree to exchange carryforward calculations each year-end to ensure ongoing agreement on the position of the carryforward. [redacted]
