BSCR Ratio definition
BSCR Ratio means, as of any date of determination, the ratio (expressed as a percentage) of “Total Capital” to the “Bermuda Solvency Capital Requirement” of the Reinsurer, each as prescribed by the Bermuda Monetary Authority in effect at the time the calculation is made, as calculated in accordance with the then-prevailing “Bermuda Solvency Capital Requirement” factors.
BSCR Ratio means the Bermuda Solvency Capital Requirement Ratio calculated by the Bermuda Solvency Capital Requirement model, as defined in the Relevant Rules;
BSCR Ratio means, with respect to any Bermuda domiciled insurance or reinsurance company, the ratio of “Total Capital” to the “Bermuda Solvency Capital Requirement” of such company, as calculated in accordance with the rules and regulations of the Bermuda Monetary Authority; provided, that any calculation of the BSCR Ratio as of a calendar quarter-end other than the last day of a calendar year shall be based on such insurance company’s good faith estimate using, to the extent any factors are not reasonably available, amounts based on reasonable estimation and annualization.
Examples of BSCR Ratio in a sentence
The Reinsurer shall provide the Ceding Company written notice within [REDACTED] Business Days after becoming aware of the Reinsurer’s BSCR Ratio falling below [REDACTED] .
The Reinsurer shall provide the Ceding Company written notice within [REDACTED] after becoming aware of the Reinsurer’s BSCR Ratio falling below [REDACTED] .
More Definitions of BSCR Ratio
BSCR Ratio means, as of any date of determination, the ratio of (a) “Available Statutory Economic Capital and Surplus” as prescribed by the Bermuda Monetary Authority for the Reinsurer to (b) the BSCR for the Reinsurer, each as prescribed by the Bermuda Monetary Authority in accordance with the methodology in effect at the time the calculation is made, as calculated in accordance with the then-prevailing “Bermuda Solvency Capital Requirement” factors, including calculating the relevant amounts using the applicable transitional factors prescribed by the Bermuda Monetary Authority.