Ongoing Settlements. The Ceding Company shall credit the Reinsurer with the Reinsurer’s share of the change in the GAAP Reserve, as described in Section 14.02, and a quarterly reinsurance premium of 0.00085 times the retained net amount at risk on the quarterly Settlement Date. The Ceding Company shall debit the Reinsurer with the Reinsurer’s share of all benefits paid by the Ceding Company for the business reinsured under this Agreement.
Appears in 2 contracts
Sources: Reinsurance Agreement, Reinsurance Agreement (WRL Series Annuity Account)