Amendment No. 3 to Automatic Flexible Premium Variable Life Reinsurance Agreement Between Western Reserve Life Assurance Co. of Ohio and Global Preferred Re Limited
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Summary
This amendment, effective January 1, 2002, modifies the existing reinsurance agreement between Western Reserve Life Assurance Co. of Ohio and Global Preferred Re Limited. It stipulates that all policies and riders issued from April 1, 2001, through December 31, 2001, and reinsured under the current agreement, will be converted to a different reinsurance agreement on a 20% quota share basis. All other terms of the original agreement remain unchanged unless specifically altered by this amendment.
EX-10.49 6 g74145a2ex10-49.txt AMENDMENT NUMBER 3, EFFECTIVE JANUARY 1, 2002 EXHIBIT 10.49 AMENDMENT NUMBER 3 TO THE AUTOMATIC FLEXIBLE PREMIUM VARIABLE LIFE REINSURANCE AGREEMENT NUMBER 3 (REFERRED TO AS THE AGREEMENT) BETWEEN WESTERN RESERVE LIFE ASSURANCE CO. OF OHIO ST. PETERSBURG, FLORIDA (REFERRED TO AS THE REINSURED) AND GLOBAL PREFERRED RE LIMITED (F/K/A WMA LIFE INSURANCE COMPANY LIMITED) HAMILTON, BERMUDA (REFERRED TO AS THE REINSURER) Effective January 1, 2002 Pursuant to the terms and conditions of Automatic Flexible Premium Variable Life Reinsurance Agreement No. 2 and this Agreement, all policies and riders issued from April 1, 2001 through December 31, 2001 and reinsured under this Agreement, shall be converted to Automatic Flexible Premium Variable Life Reinsurance Agreement No. 2 on a twenty percent (20%) quota share basis. Except as expressed herein, all terms, covenants and provisions of this Agreement, as amended, that are not in conflict with the provisions of this Amendment Number 3 shall remain unaltered and in full force and effect. In Witness Whereof, the Reinsured and the Reinsurer, by their respective officers have executed this amendment in duplicate at the dates and places indicated. WESTERN RESERVE LIFE ASSURANCE GLOBAL PREFERRED RE LIMITED CO. OF OHIO at St. Petersburg, Florida at Duluth, Georgia ---------------------------------- ----------------------------------- on March 28, 2002 on March 28, 2002 By: /s/ Larry Kirkland By: /s/ Edward McKernan --------------------------------- -------------------------------- Title: Vice President/ Title: Chief Executive Officer/ Managing Actuary President By: /s/Stephanie J. Harder By: -------------------------------- -------------------------------- Title: Staff Actuary Title:
