Notice of Increase to Maximum Program Size under Reinsurance Agreement between Genworth Life and Annuity Insurance Company and First Colony Life Insurance Company
This letter serves as formal notice from First Colony Life Insurance Company to Genworth Life and Annuity Insurance Company of its decision to increase the maximum program size under their existing reinsurance agreement from $2 billion to $3 billion. The change will take effect 30 days from the date of the letter, September 25, 2006. Both parties have acknowledged and accepted this amendment as required by the agreement.
Exhibit 10.1
September 25, 2006
Thomas E. Duffy
Senior Vice President, General Counsel & Secretary
Genworth Life and Annuity Insurance Company
6610 West Broad Street
Richmond, VA 23230
| Re: | Reinsurance Agreement between Genworth Life and Annuity Insurance Company (“GLAIC”) and First Colony Life Insurance Company (“FCL”) |
Dear Tom:
Pursuant to Article 2.2 of the Reinsurance Agreement between GLAIC and FCL entered into on December 1, 2005 (the “Agreement”), FCL hereby formally notifies GLAIC of its intention to increase the Maximum Program Size (as that term is defined in the Agreement) from $2 billion to $3 billion. This increase of the Maximum Program Size will be effective 30 days from the date of this letter. Kindly acknowledge receipt of this notice by signing where indicated below and return a copy of this letter to me.
Please do not hesitate to contact me with any questions you may have.
| Very truly yours, |
| /s/ Jac J. Amerell |
| Jac J. Amerell |
| Vice President and Controller |
| cc: | J. Kevin Helmintoller |
Beth E. Wortman
Pamela S. Asbury
Cheryl C. Yakey-Fogle
Acknowledged and accepted on behalf of Genworth Life and Annuity Insurance Company this 25th day of September, 2006
| By: | /s/ Thomas E. Duffy | |
| Thomas E. Duffy | ||
| Senior Vice President, General Counsel & Secretary |
