Retained Asset Accounts. Certain types of Business Reinsured under this Agreement provide the contractholder or annuitant settlement options that include the deposit of contract proceeds into a retained asset account with the Ceding Company. The Parties agree that (i) the Reinsurer’s sole obligation with respect to such settlement option shall be the payment of the claim to the Ceding Company in accordance with Section 8.01; (ii) upon payment of such claim, all liabilities in respect of such retained assets accounts shall cease to be Business Reinsured, shall cease to be included in the Funds Withheld Assets or Modified Coinsurance Assets and shall cease to be included in the computation of the Funds Withheld Adjustment or Modified Coinsurance Adjustment; and (iii) the Reinsurer shall have no liability or obligation with respect to any disbursements from or interest to be credited to any retained asset account established by the Ceding Company in respect of the Business Reinsured.
Appears in 15 contracts
Samples: Reinsurance Agreement (Talcott Resolution Life Insurance Co Separate Account Two), Reinsurance Agreement (Talcott Resolution Life Insurance Co Separate Account Seven), Reinsurance Agreement (Talcott Resolution Life Insurance Co Separate Account Two)
