HEALTH CARE MUTUAL CAPTIVE INSURANCE COMPANY SURPLUS NOTESurplus Note • November 8th, 2016
For value received, the undersigned, Health Care Mutual Captive Insurance Company (the "Borrower"), does hereby promise to pay to (the "Member"), ($), without interest, in accordance with the terms and conditions set forth below.
INSURANCE CAPITAL BUILD-UP INCENTIVE PROGRAM SURPLUS NOTE Amount $25,000,000 Term: 20 years Payment Dates: October 1, January 1, April 1, and July 1Surplus Note • November 10th, 2009 • Universal Insurance Holdings, Inc. • Fire, marine & casualty insurance • Florida
This Surplus Note is executed this 9th day of November, 2006, by and between Universal Property & Casualty Insurance Company, (NAIC # 10861), an Insurer authorized to write residential property and casualty insurance in Florida (“Insurer”), and The State Board of Administration of Florida (“Board”), the parties. It is deemed to be in the best interest of the Insurer to increase its Surplus as to policyholders for the purpose of increasing the number of new residential policies covering the risk of hurricanes the Insurer writes in Florida. The Insurer’s application for this Surplus Note was received by the Board on June 15, 2006, and the Insurer has, on or before the date of this Surplus Note contributed $25 million in New Capital, as defined below, to its Surplus. For and in consideration of the mutual agreements as set forth, the Insurer hereby makes a contribution to Surplus in New Capital of $25 million and covenants to meet the Minimum Writing Ratio of Net Written Premium to
SELLER PARI PASSU SURPLUS NOTE Number 1Surplus Note • February 27th, 2017 • OneBeacon Insurance Group, Ltd. • Fire, marine & casualty insurance
For Value Received, ONEBEACON INSURANCE COMPANY, a Pennsylvania domiciled, property and casualty insurance company located at OneBeacon Insurance Company, 3 Batterymarch Park, Quincy, MA 02169 (the “Company”) promises to pay to OneBeacon Insurance Group LLC of 601 Carlson Parkway, Minnetonka, MN 55305 (the “Holder”) the principal sum of $43,100,000 (the “Surplus Note”), and to pay interest thereon, from December 23, 2014 or from the most recent Scheduled Interest Payment Date (as defined below) for which interest has been paid or duly provided for, semi-annually in arrears on March 15 and August 31 in each year and on the date on which this Surplus Note matures, commencing March 15, 2015 (each, a “Scheduled Interest Payment Date”), at the applicable Stated Rate (as defined below), until the principal hereof is paid or duly provided for. The terms and conditions governing payment of this Surplus Note are as follows:
Send an email notice of your payment before 11:00 a.m. ET the day your money is coming to the Board. Notification should be sent to ICBP@sbafla.com and should include your NAIC number, company name, effective date of payment, and amount of payment....Surplus Note • November 14th, 2006 • Universal Insurance Holdings Inc • Fire, marine & casualty insurance • Florida
