SEC Contract Filing

Filing Date: 2020-02-28

Document Content:
<DOCUMENT>
<TYPE>EX-10.19
<SEQUENCE>4
<FILENAME>pri-ex1019_760.htm
<DESCRIPTION>EX-10.19 COINSURANCE AGREEMENT NOVATION AMENDMENT
<TEXT>
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<p style="text-align:right;margin-top:8pt;margin-bottom:0pt;margin-right:1.04%;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:11pt;font-style:normal;text-transform:none;font-variant: normal;">EXHIBIT 10.19</p>
<p style="text-align:right;margin-top:8pt;margin-bottom:0pt;margin-right:1.04%;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:11pt;font-style:normal;text-transform:none;font-variant: normal;">EXECUTION VERSION</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;;font-size:10.5pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:33.87%;margin-right:34.23%;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:11pt;font-style:normal;text-transform:none;font-variant: normal;">NOVATION AMENDMENT</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;;font-size:10.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:1.16%;margin-right:1.04%;text-indent:0.09%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">THIS NOVATION AMENDMENT (the "Novation Amendment") is made as of December 15, 2016, by and among PRIMERICA LIFE INSURANCE COMPANY OF CANADA ("Primerica"), MUNICH RE LIFE INSURANCE COMPANY OF VERMONT ("Munich<font style="letter-spacing:1.25pt;"> </font>Re</p>
<p style="text-align:justify;line-height:13pt;margin-bottom:0pt;margin-top:0pt;margin-left:1.24%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Vermont"), and MUNICH RE OF MALTA P.L.C. ("Munich Re Malta").</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:10.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:1.17%;margin-right:1.04%;text-indent:0.12%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, Munich American Holding Company ("MAHC") acquired all of the issued and outstanding shares of Financial Reassurance Company 2010, Ltd. from Citigroup Insurance Holding Corporation on September 23, 2016 and changed the name the company to Munich Re Life Insurance Company of Vermont; and</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:10.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:1.1%;margin-right:1.04%;text-indent:0.12%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, Primerica and Munich Re Vermont previously entered into the Coinsurance Agreement, as amended, effective March 31, 2010 (hereinafter "Coinsurance Agreement") attached hereto in Appendix A, whereby Primerica cedes and Munich Re Vermont reinsures certain life insurance business pursuant to the terms of the Coinsurance Agreement; and</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:10.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:1.23%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, Munich Re Malta is an affiliate of MAHC and Munich Re Vermont; and</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:10.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:1.16%;margin-right:1.04%;text-indent:0.06%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, Primerica, Munich Re Vermont and Munich Re Malta have agreed to effectuate the novation of the Coinsurance Agreement by substituting Munich Re Vermont with Munich Re Malta as the counterparty to Primerica under the Coinsurance Agreement as set forth below, such that all of Munich Re Vermont's rights, liabilities and obligations under the Coinsurance Agreement shall be solely, directly and exclusively transferred and novated to Munich Re Malta and Munich Re Vermont will be fully and unconditionally released from all liabilities or obligations under the Coinsurance Agreement, except as provided herein; and</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;margin-left:1.15%;margin-right:1.04%;text-indent:0.07%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, contemporaneously with the transactions contemplated in this Novation Amendment, Munich Re Vermont is assigning, transferring and conveying to Munich Re Malta all of Munich Re Vermont's rights, title, interest, duties, liabilities and obligations under that certain Reinsurance Security Agreement, dated December 31, 2011, among Primerica, Munich Re Vermont and RBC Investor Services Trust;<font style="letter-spacing:1.5pt;"> </font>and</p>
<p style="text-align:justify;margin-top:11pt;margin-bottom:0pt;margin-left:1.17%;margin-right:1.04%;text-indent:0.13%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, immediately following the novation of the Coinsurance Agreement from Munich Re Vermont to Munich Re Malta pursuant to this Novation Amendment, Primerica and Munich Re Malta desire to amend the Coinsurance Agreement to make such other amendments as are se