REINSURANCE RESERVES. 1. The Reinsured shall set up an Account Payable liability in its financial statements equal to the quota share percentage of the excess, if any, of the total Separate Account Annuity Value of the reinsured annuity contracts over the total Separate Account Statutory Reserve of the annuity contracts. The Reinsurer shall set up an Account Receivable asset equal to the Account Payable liability set up by the Reinsured.
Appears in 3 contracts
Samples: Reinsurance Agreement (WRL Series Annuity Account), Reinsurance Agreement (Separate Account Va U), Wma Total Quota Share (Wma Corp)
REINSURANCE RESERVES. 1. The Reinsured shall set up an Account Payable liability in its financial statements equal to the quota share percentage of the excess, if any, of the total Separate Account Annuity Value of the reinsured annuity contracts Reinsured Plan over the total Separate Account Statutory Reserve of the annuity contractsReinsured Plan. The Reinsurer shall set up an Account Receivable asset equal to the Account Payable liability set up by the Reinsured.
Appears in 1 contract
Samples: Wma Corp
