Coinsurance Reserve. The Coinsurance Reserve is equal to the net of (i) minus (ii), where: (i) equals the product of [(a) times (b)] plus (c), where: (a) equals the quota share percentage of the Annuities as described in Schedule A; (b) equals the Gross Statutory Reserve, as defined in Paragraph 3 below; and (c) equals the Interest Maintenance Reserve, as defined in Paragraph 4 below; and (ii) equals the Modified Coinsurance Reserve, as defined in Paragraph 2 below.
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Samples: Reinsurance Agreement (Separate Account Va U), Reinsurance Agreement (Separate Account VA AA), Reinsurance Agreement (WRL Series Annuity Account)
Coinsurance Reserve. The Coinsurance Reserve is equal to the net of (i) minus plus (ii), where:
(i) equals the product of [(a) times (b)] plus (c), where:
(a) equals the quota share percentage of the Annuities Net Coinsurance Reserve as described in Schedule A;
(b) equals the Gross Statutory Reserve, as defined in Paragraph 3 below; and
(c) equals the Interest Maintenance Reserve, as defined in Paragraph 4 below; and
(ii) equals the Modified Coinsurance Reserve, excess of the Statutory Reinsured Reserve as defined in Paragraph 2 5 below, over the Net Statutory Reserve as defined in Paragraph 6 below.
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