Statutory Reserve Credit. The Reinsurer will take all necessary steps to enable the Reinsured to secure statutory reserve credit (the “Statutory Reserve Credit”) in all applicable United States jurisdictions. Statutory Reserve Credit shall mean the amount of statutory reserves required by the applicable United States jurisdiction on the risks ceded to the Reinsurer under this agreement.
Appears in 3 contracts
Samples: Coinsurance Funds Withheld Reinsurance Agreement (Symetra Financial CORP), Coinsurance Funds Withheld Reinsurance Agreement (Symetra Financial CORP), Coinsurance Funds Withheld Reinsurance Agreement (Symetra Financial CORP)
Statutory Reserve Credit. The Reinsurer will take all necessary steps to enable the Reinsured Ceding Company to secure statutory reserve credit (the “Statutory Reserve Credit”) in all applicable United States jurisdictions. Statutory Reserve Credit shall mean the amount of statutory reserves required by the applicable United States jurisdiction on jurisdiction, less the risks ceded to amount of the Reinsurer under this agreementFunds Withheld Balance established by the Ceding Company. The means of securing the Ceding Company’s Statutory Reserve Credit shall be determined at the Reinsurer’s sole option, and the Ceding Company herewith accepts such choice.
Appears in 2 contracts
Samples: Reinsurance Agreement, Reinsurance Agreement (WRL Series Annuity Account)
