Coinsurance Agreement. The coinsurance reinsurance agreement to be entered into between the Company and the Reinsurer pursuant to the provisions of Section 2.1 of this Agreement, which shall be in the form shown at SCHEDULE 1.8 hereto.
Coinsurance Agreement. The coinsurance reinsurance agreement entered into between the Company and the Reinsurer which provides for indemnity reinsurance of the Company's risks under the Coinsured Policies by the Reinsurer on a 100% quota-share plan of coinsurance.
Coinsurance Agreement. The parties acknowledge that all of the obligations of Acadian and Security National Life hereunder shall be conditioned upon Regulatory Approval (as defined below) of an automatic Coinsurance Agreement between Security National Life and Acadian. For purposes of this Agreement, the term Regulatory Approval shall mean formal, written approval of such automatic Coinsurance Agreement by the Louisiana Department of Insurance, as well as any other regulatory department, agency or authority having jurisdiction over such transaction, or in lieu of such approval, written confirmation from any such department or agency that no such approval is required.
Coinsurance Agreement effective as of May 1, 1995, by and between the Company and The Lincoln National Life Insurance Company.
Coinsurance Agreement. The occurrence of any Event of Default shall entitle either Seller to elect to require Purchaser or LLANY, as applicable, to establish a Security Trust whether or not such an occurrence constitutes a Recapture Event, provided, that such Seller has not delivered an Election Notice electing recapture.
Coinsurance Agreement. The occurrence of any Recapture Event shall entitle either Seller to elect recapture remedies hereunder regardless of whether (1) such an occurrence also constitutes an Event of Default, (2) Purchaser has previously established a Security Trust or (3) either Seller has previously delivered an Election Notice requiring Purchaser to establish a Security Trust.
Coinsurance Agreement. At the Closing Date, Security National, Southern Security and Memorial each agree to enter into a coinsurance agreement (the "Coinsurance Agreement") in substantially the form attached hereto as Exhibit 1, pursuant to which Security National, Southern Security and Memorial will each agree to reinsure all of the assumed liabilities of Memorial, to the extent permitted by the Arkansas Insurance Department, except for certain policies not included within the reinsured policies. Upon approval of the Coinsurance Agreement by the Arkansas Insurance Department, certain insurance business and operations of Memorial, as set forth therein, will be transferred to Security National.
Coinsurance Agreement. Prior to the Closing, HIC and KIC shall execute and deliver a coinsurance and administrative services agreement with respect to the Coinsured Business between HIC and KIC in substantially the form set forth in Exhibit C (the “HIC/KIC Coinsurance Agreement”). Seller shall (i) cause HIC and KIC not to amend or waive, prior to the Closing, any provisions set forth in the HIC/KIC Coinsurance Agreement without the prior written consent of Acquiror, such consent not to be unreasonably withheld or delayed if such an amendment is required by applicable law or a Governmental Authority, (ii) provide Acquiror with a reasonable opportunity to review and provide comments on the Estimated Reinsurance Closing Calculation at least three (3) Business Days prior to the Reinsurance Closing Date, (iii) ensure that the Reinsurance Premium consists of such cash and such securities, the designation and value of which are determined in accordance with the terms of the HIC/KIC Coinsurance Agreement prior to the Reinsurance Closing Date (with all decision of KIC approved by Acquiror), and (iv) ensure that HIC and KIC do not agree upon a Final Reinsurance Closing Calculation or Reinsurance Premium Adjustment prior to the Closing Date. The terms “Reinsurance Premium”, “Estimated Reinsurance Closing Calculation”, “Reinsurance Closing Date”, “Reinsurance Effective Date”, “Final Reinsurance Closing Calculation” and “Reinsurance Premium Adjustment” shall have the respective meanings set forth in the HIC/KIC Coinsurance Agreement.
Coinsurance Agreement. Immediately prior to the completion of our IPO, Primerica Life, as ceding insurer, entered into an 80% coinsurance agreement with Prime Re. Under that agreement, Primerica Life ceded 80% of certain liabilities and benefits associated with its term life insurance policies that were in force at year-end 2009. In consideration of Prime Re assuming those policy liabilities, Primerica Life paid an initial reinsurance premium to Prime Re of approximately $3.5 billion. Additional reinsurance premiums paid by Primerica Life to Prime Re going forward will be net of premiums paid on then current reinsurance placed with third-party reinsurers. In connection with the block of business that Primerica Life ceded to Prime Re under the 80% coinsurance agreement, Primerica Life transferred approximately $3.5 billion of assets to support the liabilities assumed by Prime Re. In addition, Primerica Life contributed approximately $3.2 billion to Prime Re that was netted against an approximately $3.2 billion initial ceding commission paid by Prime Re to Primerica Life as required by the 80% coinsurance agreement. Under the 80% coinsurance agreement with Prime Re, Primerica Life continues to be responsible for the administration of the businesses ceded, including paying claims and benefits in accordance with its current policy administration practices. Prime Re has not assumed responsibility for any administration of the ceded business. Primerica Life continues to maintain its current reinsurance program with third-party reinsurers and has no current intention of terminating or materially modifying such reinsurance program. To the extent we purchase new yearly-renewable term (“YRT”) reinsurance on policies reinsured by Prime Re, we are required to obtain the prior approval of Prime Re. To the extent any current reinsurance is terminated or a reinsurer fails to pay on its obligations, Prime Re will assume 80% of the claim amounts not otherwise covered by such YRT reinsurance, and we will assume the remainder that is not otherwise covered by the 10% coinsurance agreement. Prime Re has established monthly settlement procedures by which Primerica Life and Prime Re settle amounts due to each other, including reimbursing Primerica Life for claims under the term life insurance business covered by the agreements. Prime Re is also obligated to pay Primerica Life a monthly expense allowance to reimburse Primerica Life for its expenses in administering the business, including the payment o...
Coinsurance Agreement. 3 Schedule of Mutual Indemnity Agreements.................................... 4
