RESERVE TRANSFERS. Within forty-five (45) days of the latter of the Effective Date or the date Ceding Company has received approval from all necessary regulatory authorities, (“Settlement Date”), assets consisting of policy loans (including accrued policy loan interest), cash and investments, accrued investment income, and uncollected or deferred premiums net of unearned investment income, shall be transferred by Ceding Company to Reinsurer with a market value amount calculated as of the Effective Date equal to the “Net Statutory Liabilities” for the Policies reinsured under this Agreement plus the Interest Maintenance Reserve adjustment for current year’s liability gains/losses impacting the positive or negative reserve balance as a result of this transaction. The Net Statutory Liabilities shall equal the Statutory Reserves (net of reserves for any Third-Party Reinsurance Agreements) plus premium deposit funds plus unearned premiums plus unearned policy loan interest. Ceding Company shall also pay to Reinsurer interest on such amount at the rate of four percent (4%) per annum, simple rate, beginning on the Effective Date and ending on the Settlement Date.
RESERVE TRANSFERS. 1. On or before the Effective Date of this Agreement, NORTHBROOK shall pay to ALLSTATE one million dollars ($1,000,000) in cash.
RESERVE TRANSFERS. Within forty-five (45) days of the later of the Effective Date or the date the Ceding Company has received approval from all necessary regulatory authorities to enter into this Agreement (the “Settlement Date”), assets consisting of policy loans (including accrued and unearned policy loan interest), cash and investments at market value, and accrued investment income net of unearned investment income, shall be transferred by the Ceding Company to the Reinsurer with the amount calculated as of the Effective Date equal to (i) General Account Statutory Reserves plus (ii) the positive or negative Interest Maintenance Reserve Adjustment. In addition, the “Transfer Assets and Liabilities” shall be transferred. The Ceding Company shall also pay to the Reinsurer interest on such amount at the rate of four percent (4%) per annum, simple rate, beginning on the Effective Date and ending on the Settlement Date. The Transfer Assets and Liabilities shall include all account balances (both assets and liabilities) related to the Policies. Transfer Assets and Liabilities shall include, but are not limited to, uncollected premiums, deferred premiums, and premiums received in advance, in each case to the extent attributable to the Policies. The Transfer Assets and Liabilities shall also include amounts in respect of the Policies that are paid to or received by the Reinsurer on behalf of the Ceding Company after the Effective Date but prior to the Settlement Date.
RESERVE TRANSFERS. As to Policies in force on the Effective Date, FLIC shall transfer Qualifying Assets to MLLIC in an amount equal to the excess of (i) aggregate Statutory Reserve liabilities establishes by FLIC with respect to the Policies over (ii) separate account Statutory Reserves established by FLIC with respect to the Policies plus a ceding commission of Seventy-Five Million Dollars ($75,000,000).
RESERVE TRANSFERS. Within forty-five (45) days of the later of the Effective Date or the date the Ceding Company has received approval from all necessary regulatory authorities to enter into this Agreement (the “Settlement Date”), assets consisting of policy loans (including accrued and unearned policy loan interest), cash and investments at market value, and accrued investment income net of unearned investment income, shall be transferred by the Ceding Company to the Reinsurer with the amount calculated as of the Effective Date equal to the “Net Statutory Liabilities” for the Policies plus the Interest Maintenance Reserve Adjustment. The Net Statutory Liabilities shall equal the Statutory Reserves (net of reserves for any reinsurance agreements with non-Affiliates) related to the Policies plus “Transfer Assets and Liabilities”. The Ceding Company shall also pay to the Reinsurer interest on such amount at the rate of four percent (4%) per annum, simple rate, beginning on the Effective Date and ending on the Settlement Date. The Transfer Assets and Liabilities shall include all account balances (both assets and liabilities) related to the Policies (other than (i) those that are reflected in Statutory Reserves and (ii) the liability for interest maintenance reserve related to the Policies). Transfer Assets and Liabilities shall include, but are not limited to, uncollected premiums, deferred premiums, policyholder dividends and premiums received in advance, in each case to the extent attributable to the Policies. The Transfer Assets and Liabilities shall also include amounts in respect of the Policies that are paid to or received by the Reinsurer on behalf of the Ceding Company after the Effective Date but prior to the Settlement Date.
RESERVE TRANSFERS. 1. On or before the Effective Date of this Agreement, LINCOLN shall pay to ALLSTATE ten million dollars ($10,000,000) in cash.
RESERVE TRANSFERS. Within sixty (60) days of the later of the Effective Date or the date the Ceding Company has received approval from all necessary regulatory authorities to enter into this Agreement (the “Settlement Date”), assets consisting of cash and investments at market value, and accrued investment income net of unearned investment income, shall be transferred by the Ceding Company to the Reinsurer with the amount calculated as of the Effective Date equal to (i) the Required Level of Primary Security as set forth in AG 48 as of the Effective Date plus reserves as of such date for claims incurred and outstanding (whether reported or unreported) calculated in accordance with the laws of the State of Illinois as reported in the Life and Accident and Health Annual Statement page 3 line 4.1 (2015 Statement references) plus (ii) the positive or negative Interest Maintenance Reserve Adjustment. In addition, the “Transfer Assets and Liabilities” shall be transferred. The Ceding Company shall also pay to the Reinsurer interest on such amount at the rate of four percent (4%) per annum, simple rate, beginning on the Effective Date and ending on the Settlement Date. The Transfer Assets and Liabilities shall include all account balances (both assets and liabilities) related to the Policies. Transfer Assets and Liabilities shall include, but are not limited to, uncollected premiums, deferred premiums, and premiums received in advance, in each case to the extent attributable to the Policies. The Transfer Assets and Liabilities shall also include amounts in respect of the Policies that are paid to or received by the Reinsurer on behalf of the Ceding Company after the Effective Date but prior to the Settlement Date.
RESERVE TRANSFERS. A. Within forty-five (45) days of the latter of the Effective Date or the date Ceding Company has received approval from all necessary regulatory authorities, ("Settlement Date"), assets consisting of policy loans, cash and investments, accrued investment income, and uncollected or deferred premiums net of unearned investment income, uncollected or deferred agents balances, and write in assets shall be transferred by Ceding Company to Reinsurer with a market value amount calculated as of the Effective Date equal to the net statutory liabilities for the Policies reinsured under this Agreement as calculated in (a) below, ("Net Statutory Liabilities"). Ceding Company shall also pay to Reinsurer interest on such amount at the rate specified in (b) below.
RESERVE TRANSFERS. A. On June 30, 2000, an estimate shall be made of the net statutory reserves as calculated in B(i) below ("Net Statutory Reserves"). After receiving approval from all necessary regulatory authorities, assets consisting of policy loans, cash and investments (at market value) including accrued investment income and net of unearned investment income shall be transferred by the Ceding Company to the Reinsurer in an amount equal to the Net Statutory Reserves.
RESERVE TRANSFERS. 2 B. Modified Coinsurance of Separate Account Statutory Reserve Liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
