Assumption Reinsurance Agreement definition

Assumption Reinsurance Agreement means a contract that,
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Assumption Reinsurance Agreement means any contract that both: (1) Transfers insurance obligations or risks, or both, of existing or in-force contracts of insurance from a transferring insurer to an assuming insurer; and (2) is intended to effect a novation of the transferred contract of insurance with the result that the assuming insurer becomes directly liable to the policyholders of the transferring insurer and the transferring insurer's insurance obligations or risks, or both, under the contracts are extinguished.
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Assumption Reinsurance Agreement means a contract that both:
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Examples of Assumption Reinsurance Agreement in a sentence

  • Each party represents that all negotiations relative to this Agreement and the transactions contemplated hereby, including any subsequent Assumption Reinsurance Agreement with respect to the Reinsured Contracts, have been carried out by the Cedent and the Reinsurer directly and without the intervention of any person in such manner as to give rise to any valid claim by any other person for a finder's fee, brokerage commission or similar payment.

  • Until the Reinsurer has reinsured a Reinsured Policy on an assumption reinsurance basis pursuant to this Assumption Reinsurance Agreement, the Reinsurer shall not be liable to any insured, contract owner, or beneficiary under any Reinsured Policy.

  • Included Treaties means the ceded reinsurance contracts, agreements and treaties to which Golden State is a party related to the Policies that are being transferred to IA American as part of this Agreement as specified in the Assumption Reinsurance Agreement.

  • In the event that parol evidence must be received, it is the Parties’ intention in entering this Agreement to provide for servicing of the policies by GOLDEN STATE on an interim basis, pending the transfers and assumptions contemplated by the Assumption Reinsurance Agreement.

  • Policies and Contracts shall mean all of the life, health, disability and annuity policies and contracts of GOLDEN STATES that are subject to the Assumption Reinsurance Agreement.


More Definitions of Assumption Reinsurance Agreement

Assumption Reinsurance Agreement means any contract that both:
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Assumption Reinsurance Agreement shall have the meaning set forth in -------------------------------- the second recital hereof.
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Assumption Reinsurance Agreement means any contract which
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Assumption Reinsurance Agreement means a contract that transfers obligations or risks of existing or in- force Member Contracts from a cedent CCO to a reinsurer that acquires the obligations or risks from the cedent, and is intended to effect a novation of the transferred Member Contracts with the result that the reinsurer becomes directly liable to the Members of the transferor and the transferor's contract obligations to the Members are extinguished.¶
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Assumption Reinsurance Agreement means the Assumption Reinsurance Agreement which is substantially in the form of Exhibit A hereto.
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Assumption Reinsurance Agreement can be found in Section 1.6.1(c). "Board of Arbitration" can be found in Section 13.2. "Business" can be found in Recital B. "Buyer" can be found on page 1. "Buyer's Parent" can be found in Section 14.2. "CRF" can be found in Section 10.3(a).
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Assumption Reinsurance Agreement means the Assumption Reinsurance Agreement, in the form of Annex C hereto, to be entered into by Seller and Unicare on the Closing Date.
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