Ceded Premiums definition
Ceded Premiums means all premiums (including policy fees), considerations, deposits and other similar amounts actually received by the Cedant in respect of the Reinsured Policies, net of the amount deemed payable in respect of Current Third Party Reinsurance Premiums.
Ceded Premiums premiums paid to an assuming company in exchange for that company accepting all or part of insurance on a risk or exposure.
Ceded Premiums as used herein is defined as the Reinsurer's share of subject premium.
Examples of Ceded Premiums in a sentence
As additional consideration for the Reinsurer entering into this Agreement, the Reinsurer shall be entitled to the Quota Share of Ceded Premiums and any and all other collections and recoveries relating to the Reinsured Risks, in each case, to the extent actually received by or on behalf of the Ceding Company after the Effective Time (the “Additional Consideration”).
The Ceding Company shall ensure that such U.S. Sanctions screening uses matching logic algorithms to enhance screening results, and that such screening occurs upon the receipt of Ceded Premiums by the Reinsurer and prior to the payments of policy benefits in respect of the Reinsured Policies and, thereafter, at least once every six (6) months.
More Definitions of Ceded Premiums
Ceded Premiums means all Premiums, including all ceded premium receivable under the PLA Affiliate Reinsurance Agreement determined as if both parties thereto are performing, in each case, (a) net of any (i) premiums payable under the Inuring Reinsurance and (ii) waiver of premium and premiums returned to policyholders or beneficiaries; provided that, with respect to the Inuring Reinsurance, such premiums payable shall be based on the terms in effect as of the date hereof, as may be modified, amended, supplemented, replaced or restated or waived with the Reinsurer’s consent in accordance with Section 2.11 but (b) not net of any premiums payable under the Non-Inuring Reinsurance.
Ceded Premiums has the meaning given to such term in the Coinsurance Agreement.