Underwriting Loss Clause Samples

Underwriting Loss. (A) Commercial Fund After the retentions and assignments under paragraph (4)(B), the amount of underwriting loss retained by the Company will be calculated within each State as the sum of the following: (i) For that portion of the underwriting loss amount for which the company’s loss ratio exceeds 100 percent and is less than or equal to 160 percent, the Company will retain an amount of the underwriting loss equal to the product of the following: (I) its retained net book premium; (II) the lesser of the Company’s actual loss ratio or 160 percent, minus 100 percent; and (III) the following percentage for the applicable State: State Group 1 50.0 percent State Group 2 50.0 percent State Group 3 50.0 percent State Group 4 40.0 percent (ii) For that portion of the underwriting loss amount for which the company’s loss ratio exceeds 160 percent and is less than or equal to 220 percent, the Company will retain an amount of the underwriting loss equal to the product of the following: (I) its retained net book premium; (II) the lesser of the Company’s actual loss ratio or 220 percent, minus 160 percent; and (III) the following percentage for the applicable State: State Group 1 20.0 percent State Group 2 20.0 percent State Group 3 20.0 percent State Group 4 20.0 percent (iii) For that portion of the underwriting loss amount for which the company’s loss ratio exceeds 220 percent and is less than or equal to 500 percent, the Company will retain an amount of the underwriting loss equal to the product of the following: (I) its retained net book premium; (II) the lesser of the Company’s actual loss ratio or 500 percent, minus 220 percent; and (III) the following percentage for the applicable State: State Group 1 5.0 percent State Group 2 5.0 percent State Group 3 5.0 percent State Group 4 5.0 percent (iv) FCIC will assume 100 percent of that portion of the underwriting loss amount by which the Company’s loss ratio exceeds 500 percent. (B) For the Residual Fund: The amount of national underwriting loss for all AIPs and that portion retained by the Company will be calculated as the sum of the following: (i) For that portion of the underwriting loss amount for which the national loss ratio exceeds 100 percent and is less than or equal to 160 percent, the Company will retain an amount of the underwriting loss equal to the product of the following: (I) the net book premium designated to the Residual Fund by all AIPs; (II) the Company’s interest in premium and associated ultima...
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Underwriting Loss a. After cessions under paragraph 6., the amount of underwriting loss retained by the Company will be calculated separately for each Fund within each State as follows: i. When the loss ratio exceeds 100 percent but is less than or equal to 160 percent of the Company’s retained net book premium, the Company will retain the following percentage of the underwriting loss: (B) (C) (R) I. Commercial Fund 50.0 percent 50.0 percent 57.0 percent II. Developmental Fund 25.0 percent 25.0 percent 30.0 percent III. Assigned Risk Fund 5.0 percent - - - - - - ii. In addition to the amount determined under clause i., when the loss ratio exceeds 160 percent but is less than or equal to 220 percent of the Company’s retained net book premium, the Company will retain the following percentage of the underwriting loss:
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Underwriting Loss. Amount by which Claims, taxes and fees exceed Net Earned Reserve for Qualifying Contracts.
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Underwriting Loss. 181 UNDERWRITING RESULTS BY SEGMENT The following table summarizes written premiums, underwriting results, statutory combined ratios and adjusted combined ratios (as described in the footnote to the table) for each of St. Paul Re's business segments for the last three years. These segments are managed in a carefully coordinated fashion with strong elements of centralized control. As a result, management monitors and evaluates the financial performance of these segments principally based on their underwriting results. Following the table are detailed analyses of each segment's results. SIX MONTHS ENDED JUNE 30, YEAR ENDED DECEMBER 31, ---------------- -------------------------- 2002 2001 2001 2000 1999 ------ ------ ------ ------ ------ ($ IN MILLIONS) NORTH AMERICAN CASUALTY Net premiums written .......................... $ 228 $ 296 $ 667 $ 340 $ 262 Net premiums earned ........................... 271 261 588 319 245 Losses and loss adjustment expenses ........... 230 274 584 261 61 Underwriting expenses ......................... 91 96 219 134 109 ------ ------ ------ ------ ------ Underwriting gain (loss) ...................... $ (50) $ (109) $ (215) $ (76) $ 75 ====== ====== ====== ====== ====== Combined ratio ................................ 117.9% 141.4% 135.4% 124.9% 68.8% Adjusted combined ratio* ...................... 115.3% 142.6% 131.5% 131.4% 82.2% NORTH AMERICAN PROPERTY Net premiums written .......................... $ 110 $ 75 $ 216 $ 170 $ 207 Net premiums earned ........................... 125 75 216 204 196 Losses and loss adjustment expenses ........... 74 36 381 133 153 Underwriting expenses ......................... 35 33 67 72 71 ------ ------ ------ ------ ------ Underwriting gain (loss) ...................... $ 16 $ 6 $ (232) $ (1) $ (28) ====== ====== ====== ====== ====== Combined ratio ................................ 88.0% 92.8% 207.3% 104.6% 112.6% Adjusted combined ratio* ..................... 85.1% 127.6% 116.9% 122.2% 134.8% INTERNATIONAL Net premiums written .......................... $ 174 $ 174 $ 248 $ 145 $ 160 Net premiums earned ........................... 120 108 242 188 160 Incurred losses and loss adjustment expenses .. 52 25 289 128 102 Underwriting expenses ......................... 28 30 62 70 79 ------ ------ ------ ------ ------ Underwriting gain (loss) ...................... $ 40 $ 53 $ (109) $ (10) $ (21) ====== ====== ====== ====== ====== Combined ratio ................................ 62.5% 45.5% 143.8% 111.6...
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Underwriting Loss. After cessions under paragraph 6., the amount of underwriting loss retained by the Company will be calculated separately for each Fund within each State as follows: i. When the loss ratio exceeds 100 percent but is less than or equal to 160 percent of the Company’s retained net book premium, the Company will retain the following percentage of the underwriting loss:
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Underwriting Loss. The excess of Losses Incurred, Commission Expense, Ceding Fee, and Excise Taxes over Earned Premium.
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Underwriting Loss 
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Related to Underwriting Loss

  • Underwriting Fee The Underwriting Fee payable by BIP to the Underwriters pursuant to the Offering shall be calculated based on all of the Units purchased hereunder. The Underwriting Fee payable by BIP to the Underwriters pursuant to the Over-Allotment Option shall be calculated based on all of the Additional Units purchased hereunder.

  • Underwriting Discount In consideration of the services to be provided for hereunder, the Company shall pay to the Underwriters, with respect to any Offered Securities sold to investors in this Offering, a seven percent (7%) underwriting discount.

  • Underwriting Methodology The methodology used in underwriting the extension of credit for each Mortgage Loan employs objective mathematical principles which relate the related Mortgagor's income, assets and liabilities to the proposed payment and such underwriting methodology does not rely on the extent of the related Mortgagor's equity in the collateral as the principal determining factor in approving such credit extension. Such underwriting methodology confirmed that at the time of origination (application/approval) the related Mortgagor had a reasonable ability to make timely payments on the Mortgage Loan;

  • Underwriting Requirements (a) If, pursuant to Subsection 2.1, the Initiating Holders intend to distribute the Registrable Securities covered by their request by means of an underwriting, they shall so advise the Company as a part of their request made pursuant to Subsection 2.1, and the Company shall include such information in the Demand Notice. The underwriter(s) will be selected by the Company and shall be reasonably acceptable to a majority in interest of the Initiating Holders. In such event, the right of any Holder to include such Holder’s Registrable Securities in such registration shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein. All Holders proposing to distribute their securities through such underwriting shall (together with the Company as provided in Subsection 2.4(e)) enter into an underwriting agreement in customary form with the underwriter(s) selected for such underwriting. Notwithstanding any other provision of this Subsection 2.3, if the managing underwriter(s) advise(s) the Initiating Holders in writing that marketing factors require a limitation on the number of shares to be underwritten, then the Initiating Holders shall so advise all Holders of Registrable Securities that otherwise would be underwritten pursuant hereto, and the number of Registrable Securities that may be included in the underwriting shall be allocated among such Holders of Registrable Securities, including the Initiating Holders, in proportion (as nearly as practicable) to the number of Registrable Securities owned by each Holder or in such other proportion as shall mutually be agreed to by all such selling Holders; provided, however, that the number of Registrable Securities held by the Holders to be included in such underwriting shall not be reduced unless all other securities are first entirely excluded from the underwriting. To facilitate the allocation of shares in accordance with the above provisions, the Company or the underwriters may round the number of shares allocated to any Holder to the nearest one hundred (100) shares. (b) In connection with any offering involving an underwriting of shares of the Company’s capital stock pursuant to Subsection 2.2, the Company shall not be required to include any of the Holders’ Registrable Securities in such underwriting unless the Holders accept the terms of the underwriting as agreed upon between the Company and its underwriters, and then only in such quantity as the underwriters in their sole discretion determine will not jeopardize the success of the offering by the Company. If the total number of securities, including Registrable Securities, requested by stockholders to be included in such offering exceeds the number of securities to be sold (other than by the Company) that the underwriters in their reasonable discretion determine is compatible with the success of the offering, then the Company shall be required to include in the offering only that number of such securities, including Registrable Securities, which the underwriters and the Company in their sole discretion determine will not jeopardize the success of the offering. If the underwriters determine that less than all of the Registrable Securities requested to be registered can be included in such offering, then the Registrable Securities that are included in such offering shall be allocated among the selling Holders in proportion (as nearly as practicable to) the number of Registrable Securities owned by each selling Holder or in such other proportions as shall mutually be agreed to by all such selling Holders. To facilitate the allocation of shares in accordance with the above provisions, the Company or the underwriters may round the number of shares allocated to any Holder to the nearest one hundred (100) shares. Notwithstanding the foregoing, in no event shall (i) the number of Registrable Securities included in the offering be reduced unless all other securities (other than securities to be sold by the Company) are first entirely excluded from the offering, or (ii) the number of Registrable Securities included in the offering be reduced below twenty percent (20%) of the total number of securities included in such offering, unless such offering is the IPO, in which case the selling Holders may be excluded further if the underwriters make the determination described above and no other stockholder’s securities are included in such offering. For purposes of the provision in this Subsection 2.3(b) concerning apportionment, for any selling Holder that is a partnership, limited liability company, or corporation, the partners, members, retired partners, retired members, stockholders, and Affiliates of such Holder, or the estates and Immediate Family Members of any such partners, retired partners, members, and retired members and any trusts for the benefit of any of the foregoing Persons, shall be deemed to be a single “selling Holder,” and any pro rata reduction with respect to such “selling Holder” shall be based upon the aggregate number of Registrable Securities owned by all Persons included in such “selling Holder,” as defined in this sentence. (c) For purposes of Subsection 2.1, a registration shall not be counted as “effected” if, as a result of an exercise of the underwriter’s cutback provisions in Subsection 2.3(a), fewer than fifty percent (50%) of the total number of Registrable Securities that Holders have requested to be included in such registration statement are actually included.

  • Underwriter’s Cutback Notwithstanding any other provision of this Article II or Section 3.1, if the managing underwriter or underwriters of an Underwritten Offering in connection with a Demand Registration or a Shelf Registration advise the Company in their good faith opinion that the inclusion of all such Registrable Securities proposed to be included in the Registration Statement or such Underwritten Offering would be reasonably likely to interfere with the successful marketing, including, but not limited to, the pricing, timing or distribution, of the Registrable Securities to be offered thereby or in such Underwritten Offering, and no Holder has delivered a Piggyback Notice with respect to such Underwritten Offering, then the number of Shares proposed to be included in such Registration Statement or Underwritten Offering shall be allocated among the Company, the Selling Investors and all other Persons selling Shares in such Underwritten Offering in the following order: (i) first, the Registrable Securities of the class or classes proposed to be registered held by the Holder that initiated such Demand Registration, Shelf Registration or Underwritten Offering and the Registrable Securities of the same class or classes (or convertible at the Holder’s option into such class or classes) held by other Holders requested to be included in such Demand Registration, Shelf Registration or Underwritten Offering (pro rata among the respective Holders of such Registrable Securities in proportion, as nearly as practicable, to the amounts of Registrable Securities requested to be included in such registration by each such Holder at the time of such Demand Registration, Shelf Registration or Underwritten Offering); (ii) second, all other securities of the same class or classes (or convertible at the holder’s option into such class or classes) requested to be included in such Demand Registration, Shelf Registration or Underwritten Offering other than Shares to be sold by the Company; and (iii) third, the Shares of the same class or classes to be sold by the Company. No Registrable Securities excluded from the underwriting by reason of the underwriter’s marketing limitation shall be included in such registration or offering. If the underwriter has not limited the number of Registrable Securities to be underwritten, the Company may include securities for its own account (or for the account of any other Persons) in such registration if the underwriter so agrees and if the number of Registrable Securities would not thereby be limited.