VA co. plans to buy death ben. reinsurance from two reinsurers. (variable-annuity death benefit; North American Security Life and First North American Life agreements with Swiss Re America and CIGNA Reinsurance)

National Underwriter Life & Health-Financial Services Edition, October, 1995

Swiss Re America and CIGNA Reinsurance have agreed to reinsure the guaranteed-minimum death benefit features of North American Security Life's and First North American Life's Venture and Venture Vision variable annuities. Under the agreement, the reinsurers will cover the amount of an annuity' minimum death benefit guarantee that exceeds the annuity's account value.

North American Security Life, Boston, and First North American Life, Rye, N.Y., say they have reached an agreement with two reinsurers - Swiss Re America, a New York City subsidiary of Zurich's Swiss Reinsurance Co., and CIGNA Corp., Hartford, Conn. - under which the reinsurers will share equally in the reinsurance of variable annuity guaranteed minimum death benefit features.

The features appear in...

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