LIFE SURPLUS SHARE REINSURANCE CONTRACT
ADDENDUM NO. 1
to the
Effective: January 1, 2013 (the “Contract”)
issued to
THE PRUDENTIAL INSURANCE COMPANY OF AMERICA Newark, New Jersey
including any and/or all companies that are or may hereafter become affiliated therewith
(collectively, the “Company”)
by
THE SUBSCRIBING REINSURER(S) IDENTIFIED
IN THE INTERESTS AND LIABILITIES AGREEMENT(S)
ATTACHED TO AND FORMING PART OF THE CONTRACT
(the “Reinsurer”)
IT IS HEREBY AGREED that, effective 12:01 a.m., Local Standard Time, January 1, 2015, the following Miscellaneous Article is added as Article 33:
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A. Assignment. This Contract is not assignable by either party except by the express written consent of the other.
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B.
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Good Faith. Each party agrees that all matters with respect to this Contract requires its utmost good faith.
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C.
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Non-waiver. No forbearance on the part of either party to insist upon compliance by the other party with any of the terms of this Contract shall be construed as, or constitute a waiver of, any of the terms of this Contract.
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D. Right of Offset. All money due between the Company and the Reinsurer under this Contract shall be offset against each other, dollar for dollar, even if any of them is then a party to an insolvency proceeding.
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E. Survival. The Errors and Omissions; Arbitration, and Confidentiality Articles of this Contract shall survive the recapture or termination of this Contract. In addition, all other provisions of this Contract will survive its termination to the extent necessary to carry out the purpose of this Contract or to ascertain and enforce the parties’ rights and obligations hereunder existing at the time of termination.
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Effective: January 1, 0000
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XXX: January 22, 2015
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U1G30006-01
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1 of 4
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Addendum No. 1
Effective: January 1, 2015
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XXX XXXXXXXXX
IT IS HEREBY AGREED that, effective 12:01 a.m., Local Standard Time, January 1, 2015, with respect to losses occurring at or after such time and date on Policies in force at such time and date, or written or renewed at or after such time and date, Exhibits II and III of the Contract are amended per the attachments to this Addendum.
All other terms and conditions remain unchanged.
IN WITNESS WHEREOF, th rties here to have caused this Addendum to be executed, in duplicate, this 23rd day of January in the year of 2015
THE PRUDENTIAL INSURANCE COMPANY OF AMERICA
including any and/or all companies that are or may hereafter become affiliated therewith
/s/ VP & Actuary
Xxxxx Xxxxxxx
Effecti ve: January I , 2013
UIG30006-0 I
DOC: Janua r y 22, 20 15
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Addendum No. I Effect ive: Ja n ua r y I, 2015
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EXHIBIT II – AUTOMATIC REINSURANCE BINDING LIMITS
Monthly Reinsurance Rates
Unisex and Waiver of Premium
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Age Range
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Monthly Rates Per Thousand
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Up to age 19
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Redacted
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20 to 24
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25 to 29
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30 to 34
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35 to 39
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40 to 44
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45 to 49
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50-54
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55-59
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60-64
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65-69
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70-74
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75-79
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80+
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Effective: January 1, 2013
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DOC: January 22, 2015
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U1G30006-01
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3 of 4
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Addendum No. 1
Effective: January 1, 2015
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EXHIBIT III – PREMIUM RECONCILIATION WORKSHEET
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Age
Band
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Rate
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Volume xs
1,500,000
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Premium
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<30
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Redacted
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Redacted
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Redacted
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30 – 34
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35 – 39
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40 – 44
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45 – 49
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50 – 54
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55 – 59
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60 – 64
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65 – 69
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70 – 74
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75 – 79
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80 – 84
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Census Premium
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$9,673,469 (a)
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$Redacted
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(b). Total Life Net Earned Premium Subject to the Life XOL Treaty (shown here as estimated annualized 2014 premium, but final true up will be based on actual 2015 & 2016 premium)
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$ Redacted
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(c). Life Premium for Groups where volume xs $1.5M is known (i.e. groups where Prudential has census and cases were Prudential knows that the plan design does not allow xs $1.5M)
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$Redacted
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(d). (b) – (c) = Life Premium for Groups where Volume is $1.5M is unknown (i.e. groups where Prudential does not have census and does not know if the plan design allows xs $1.5M)
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25.0%
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(e). 25.0%, A static contractual factor that represents that (d) is significantly less likely to have volume xs $1.5M
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Redacted % (f). (d) / (b) * (e) = gross up factor
$Redacted (g). (a) / [(1 – (f)] = Grossed up
Premium Due to Reinsurer
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Effective: January 1, 2013
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DOC: January 22, 2015
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U1G30006-01
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4 of 4
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Addendum No. 1
Effective: January 1, 2015
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GUY CARPE N TER
ENDORSEMENT NO. 1
to the
INTERESTS AND LIABILITIES AGREEMENT
Effective: January I, 2013
(the "Agreement")
of
RGA REINSURANCE COMPANY
(the "Subscribing Reinsurer")
with respect to the
LIFE SU RPLUS SHARE REI NSURANCE CONTRACT
Effective: January I, 2013
(the ''Contract")
issued to
THE PRUDENTIAL INSURANCE COMPANY OF AMERICA Newark, New Jersey
including any and /or all companies that are or may hereafter become affiliated therewith
(collectively, the "Company")
Addendum No. 1 to the Contract, as executed by the Company, shall form part of the Contract, effective 12:01 a.m., Local Standard Time, Janu ary 1, 2015.
IN WITNESS WHEREOF, the Subscribing Reinsurer has caused this Endorsement to be executed by its duly authorized representative(s) as follows:
this 27th day of January in the year 2015
RGA REINSURANCE COMPANY
/s/ ________________ /s/ _______________
Executive Director Vice President
Xxxx et Reference Number: 414061
Effecti ve: J an uary l. 201 3
UIG30006-0 I
DOC: January22. 201 5
Endorsemen t No. I Effective: January I , 2015
GUY CAR PENTER
ADDENDUM NO. 5
to the
Effective: January 1, 2007
(the "Contract")
issued to
THE PRUDENTIAL INSURANCE COMPANY OF AMERICA Newark, New .Jersey
including any and/or all companies tha t are or may hereafter become affiliated therewith
(collectively. the ''Company")
and
SWISS RE LIFE & HEALTH AMERICA INC.
(the "Subscribing Reinsurer")
IT IS HEREBY AGREED that, effective I 2:0 l a.m., Local Standard Time, January l , 2015, the
Contract is amended as follows:
l . The following Miscellaneous Article is added as Article 32:
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A.
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Assignment. This Contract is not assignable by either party except by the ex press written consent of the other.
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B.
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Good Faith. Each party agrees that all matters with respect to this Contract requires its utmost good faith.
|
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C.
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Non-waiver. No forbearance on the part of either party to insist upon compliance by the other party with any of the terms of this Contract shall be construed as, or constitute a waiver ot:any of the terms of th is Contract.
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D.
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Right of Offset. All money d.ue between the Company and the Reinsurer under this Contract shall be off.<;et against each other. dollar for dollar. even if any of them is then a Party to an insolvency proceeding.
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E.
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Survival. The Errors and Omissions; Arbitration, and Confidentiality Articles of this Contract shall survive the recapture or termination of this Contract. In addition, all other provisions of this Contract will survive its termination to the extent necessary to carry out the purpose of this Contract or to ascertain and enforce the parties· rights and obligations hereunder existing at the time of termination.
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Effective: January I , 2007
U1G30006
DOC: January 22, 20 I 5
l of5 Addendum No.5
Effecti ve: January I, 20 15
MGUY XXXXXXXXX
2. The following Trade and Economic Sanctions Article is added as Article 33:
Wherever potential coverage provided by this Contract would be in violation of any
applicable economic or trade sanctions, any such coverage will conform to applicable [(lw.
IT IS HEREBY AGREED that, effective 12:01 a. m., Local Standard Time. Januar y 1, 2015 , wit h respect to losses occurring at or after suc h time and date on Policies in force at such time and date, or written or renewed a t or after such time and date, Exhibits II and III of the Contract (as previously amended by Addendum No. 4) are amended per the attachments to this Addendum.
All other terms and conditions remain unchanged.
IN WITNESS WHEREOF, the parties hereto have caused this Addendum to be executed, in
duplicate, this 23rd day of January , in the year 2015.
THE PRU DENTIAL INSURANCE COMPANY OF AMERICA
i ncluding any and/or all companies that are or may hereafter beco me affiliated therewith
/s/ ___________________ VP & Actuary
Xxxxx Xxxxxxx
LIFE SU RPLUS SHARE XXXXXX XXXXX CONTRACT
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XXX XXXXXXXXX
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Effective: January I , 2007 2 of5 DOC: January 22, 20 I 5
U1G30006 Addendum No.5
Effecti ve: January I, 20 15
And on this 29th day of January , in the year of 0000
XXXXX RE LIFE & HEALTH AMERICA INC.
/s/__________________________________________
And on this 29th ;day of January, in the year of 2015.
SWISS RE LIFE & HEALTH AMER ICA INC.
/s/__________________________________________
Market Reference Number:
THE PRUD'ENTIAL INSURANCE COMPANY OF AMERICA LIFE SURPLUS SHARE REINSURANCE CONTRACT
Effective: January I, 2007
UIG30006 3 of 5
DOC: January 22, 2015
Addendum No. 5
Effective: January 1, 2015
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XXX XXXXXXXXX
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EXHIBIT II-AUTOMATIC REINSURANCE BINDJNG LIMITS
Monthly Reinsurance Rates
Un isex and Waiver ofPrcmium
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Age Range
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Monthly Rates Per Thousand
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Up to age 19
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Redacted
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20 to 24
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25 to 29
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30 to 34
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35 to 39
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40 to 44
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45to 49
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50-54
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55-59
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60-64
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65-69
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70-74
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75-79
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80+
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EfTectivc: January l, 2007
U1 G30006
DOC: January 22, 2015
4 of5 Addendum No. 5
Effective: January I, 20 1 5
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G U Y CA R PENTER
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EXHIBIT Ill - PREMIUM RECONCILIATION WORKSHEET
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Age
Band
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Rate
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Volume xs
1,500,000
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Premium
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<30
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Redacted
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Redacted
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Redacted
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30-34
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35-39
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40-44
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45-49
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50-54
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55-59
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60-64
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65-69
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70-74
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75-79
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80-84
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Census Premium
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$Redacted
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(b). Total Life Net Earned Premium Subject to the Life XOL Treaty (shown here as estimated annualized 2014 premium, but final true up will be based on actual 2015 & 2016 premium)
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$Redacted
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(c). Life Premium for Groups where volume xs $1.5M is known (i.e. groups where Prudential has census and cases were Prudential knows that the plan design does not allow xs $1.5M)
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$Redacted
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(d). (b) - (c)= Life Premium for Groups where Volume is $1.5M is unknown (i.e. groups where Prudential does not have census and does not know if the plan design allows xs $1.5M)
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25.0%
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(e). 25.0%, A static contractual factor that represents that (d) is significantly less likely to have volume xs $1.5M
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Redacted% (f). (d) I {b)" (e) = gross up factor
$Redacted (g). (a) I [(1 - (f)] = Grossed up
Premium Due to Reinsurer
EfTeclive: January I , 2007
UIG30006
DOC: January 22, 2015
5 of 5 Adden dum No. 5
Effective: January I,2015
