HomeMy WebLinkAboutExhibit 6FIRST AMENDMENT TO
AGREEMENT OF REINSURANCE AND ASSUMPTION AND NOVATION
by and between
CONNECTICUT GENERAL LIFE INSURANCE COMPANY
and
THE MEGA LiTE AND HEALTH INSURANCE COMPANY
WNEPEAS, Connecticut General Life Insurance Company, a Connecticut
corporation ("Reinsurer")., reinsured and assumed by novation
certain group health insurance policies issued by The MEGA Life &
Health Insurance Company ("MEGA"), an Oklahoma corporation, by an
Agreement of Reinsurance and Assumption and Novatien between the
parties effective as of January 1, 2007 ("Reinsurance/Assumption
Agreement"); and
WHEREAS, Reinsurer and MEGA wish to amend and make certain •
modifications to the terms of the Reinsurance/Assumption Agreement;
NOW, THEREFORE, in consideration of the foregoing premises and the
covenants and agreements hereinafter set forth, the sufficiency of
which both parties hereby acknowledge, MEGA and the Reinsurer hereby
agree, that the Reinsurance/Assumption Agreement shall be amended
effective retroactively to January 1, 2007 (the "Effective Dato")
as follows:
1. Article I, Paragraph 1 is hereby amended such that the second
sentence is deleted in its entirety and the following inserted in
lieu thereof:
"The Reinsurer hereby assumes and undertakes to pay and discharge.
and indemnify MEGA for all of MEGA's claim .and benefit liabilities
under the Reinsured Policies in existence as of the Effective Date
of Reinsurance with the same force and effect, and to the same.
extent, as if the Reinsurer had originally issued the Reinsured
Policies as of the Effective Date, including but not limited .to the
payment of all benefits, claims, policy dividends, surrender
benefits and :premium returne."
2. Article V, is hereby amended such that the subparagraph (a) is
deleted in its entirety and the following inserted in lieu thereof:
"(a) All of the gross premium adjustments, reinsurance recoverables
and other consideration of any kind which remain unpaid or become
due. under or in connection with the Reinsured Policies on and after
the Effective Date."
3. The description of policies in EXHIBIT A of the
Reinsurance/Assumption Agreement is deleted in its entirety the
following inserted in lieu thereof :
"All then existing group insurance policies issued by The MEGA Life
and Health Insurance Company whether issued to an employer, trust or
other group to which a group health insurance policy may be validly
issued under applicable state law and which were reinsured by
Connecticut General Life Insurance Company pursuant to the
Coinsurance Agreement between Connecticut general life Insurance
Company and The MEGA Life and Health insurance Company dated July
11, 2006, with the exception of only such policies with base policy
or certificate numbers bearing the following prefixes:
• CH-0200
• CH-0300
• SR-831000055-0
• SR-831000055--4
• SR-83100108-0
• SR-83100108-4
• ST-100-0
• ST-100-4.
Both parties agree that all other terms and conditions of the
Agreement shall remain unchanged and in full force and effect as
originally written,
IN WHITNESS WHEREOF, the parties have caused this Agreement to be
executed by their duly authorized representatives.
Connecticut General Life Insurance Companir
BY: 1,=e,, 2('j�
Name: 401. v./
Date: i/3/,A
The MEGA, Life a
H Faith and Health Insurance Company
By:
Name:
Date: