Common use of FINANCIAL AND CONVENTION STATEMENTS Clause in Contracts

FINANCIAL AND CONVENTION STATEMENTS. The Annual Convention Statements required to be filed by Platinum US for the years 2000 and 2001, and the Quarterly Convention Statements required to be filed by Platinum US during the period January 1, 2002 to the date hereof, (i) have been duly filed with the Maryland insurance regulatory authorities and with all other insurance regulatory authorities as required, (ii) were prepared in accordance with accounting practices prescribed or permitted for insurance companies by the Maryland insurance regulatory authorities, which have been applied on a basis consistent with the past periods, and (iii) present fairly, in accordance with such practices, the statutory financial position of Platinum US as at the date of, and the results of its operations for the period covered by, such Annual or Quarterly Convention Statements.