PDF State of Nebraska Examination Report of Lincoln Benefit Life ...

STATE OF NEBRASKA Department of Insurance EXAMINATION REPORT

OF LINCOLN BENEFIT LIFE COMPANY

as of December 31, 2016

TABLE OF CONTENTS

Item

Page

Salutation .........................................................................................................................................1

Introduction ......................................................................................................................................1

Scope of Examination ......................................................................................................................2

Description of Company: History........................................................................................................................................4 Management and Control: Holding Company................................................................................................................6 Shareholder ..........................................................................................................................6 Board of Directors................................................................................................................7 Officers ................................................................................................................................8 Committees ..........................................................................................................................9

Transactions with Affiliates: Note Purchase Agreement....................................................................................................9 Fee Letter Agreement ........................................................................................................10 Letter Agreement ...............................................................................................................10 Tax Allocation Agreement.................................................................................................10 Services Agreement ...........................................................................................................10 Administrative Services Agreement ..................................................................................11 Investment Management Services Agreement...................................................................11

Territory and Plan of Operation .....................................................................................................12 Reinsurance:

Ceded Traditional ..........................................................................................................................13 ALIC ..................................................................................................................................13 Hannover ............................................................................................................................14 Lancaster Re.......................................................................................................................14 Long Term Care .................................................................................................................14

General .....................................................................................................................................15

Body of Report: Growth .....................................................................................................................................15 Financial Statements ................................................................................................................16 Examination Changes in Financial Statements........................................................................20 Compliance with Previous Recommendations ........................................................................20 Commentary on Current Examination Findings ......................................................................20

Subsequent Events: Dividends .................................................................................................................................21 Capital Contribution.................................................................................................................21 Sale of the Company................................................................................................................21

Summary of Comments and Recommendations............................................................................21

Acknowledgment ...........................................................................................................................22

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