AGREEMENT
This Agreement is entered into as of November 30, 2005 by and among CUNA MUTUAL
LIFE INSURANCE COMPANY (hereinafter the "Company"), THE LINCOLN NATIONAL LIFE
INSURANCE COMPANY (hereinafter "Lincoln") and SWISS RE LIFE & HEALTH AMERICA
INC. (hereinafter "Swiss Re").
WHEREAS, Lincoln and the Company are parties to the Reinsurance Agreement
(Lincoln treaty # 3114701) effective September 1, 1983 (hereinafter the "Lincoln
Treaty"), which Lincoln and the Company desire to terminate for new business;
and
WHEREAS, the Company and Swiss Re wish to enter into a new reinsurance agreement
covering new business on identical terms as the Lincoln Treaty (a copy of which,
along with all amendments, is attached hereto for the Company and Swiss Re); and
WHEREAS, the termination for new business between Lincoln and the Company shall
be contingent on the execution of this Agreement.
NOW THEREFORE, the parties agree as follows:
1. The Lincoln Treaty shall be terminated for new business effective as of
November 30, 2005, and Swiss Re will reinsure new business eligible for
reinsurance issued after November 30, 2005 on identical terms and conditions
as specified in the Lincoln Treaty, whose terms are incorporated herein by
reference between the Company and Swiss Re, contingent upon the execution of
this Agreement.
2. Lincoln shall have no liability to the Company with respect to business
covered under the new reinsurance agreement between the Company and Swiss Re,
but will continue to be responsible for its obligations under the Lincoln
Treaty.
3. The parties agree to take all reasonable steps necessary to implement the
intention of this Agreement.
IN WITNESS WHEREOF, the Company, Lincoln and Swiss Re have executed this
Agreement.
CUNA MUTUAL LIFE INSURANCE COMPANY
By: /s/ Xxxx X. Xxxxx Attest: /s/ Xxxxxxx X. Xxxxx
------------------------------- -------------------------------
Title: VP Title: VP, Life & Health Product
---------------------------- -------------------------------
Date: 1/6/06 Date: 1/6/06
---------------------------- -------------------------------
SWISS RE LIFE & HEALTH AMERICA INC.
By: /s/ Xxxxxx Xxxxx Attest: /s/ Xxxxxx Xxxxxxxx
------------------------------- -------------------------------
Title: EVP Title: VP
---------------------------- -------------------------------
Date: 9/28/05 Date: 9/28/05
---------------------------- -------------------------------
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
By: /s/ Xxxxxx Xxxxx Attest: /s/ Xxxxxx Xxxxxxxx
------------------------------- -------------------------------
Title: EVP Title: VP
---------------------------- -------------------------------
Date: 9/28/05 Date: 9/28/05
---------------------------- -------------------------------
