Ceding Company Statutory Reserves definition

Ceding Company Statutory Reserves means, as of any date of determination, the aggregate statutory reserve (including unearned premium reserves and other premium accruals) amount for the General Account Liabilities calculated in accordance with the Ceding Company Domiciliary State SAP that would be applicable to Ceding Company (as would be reflected on Line 1, column 1 of the Liabilities section and Exhibit 5 and Line 3, column 1 of the Liabilities section and Exhibit 7 of the Ceding Company’s Statutory Financial Statement (or the equivalent exhibits or lines in the event of changes to the Ceding Company’s Statutory Financial Statement subsequent to December 31, 2019)), as calculated as of such date (without giving effect to this Agreement) using the same process and methodologies for modeling and setting assumptions as used by the Ceding Company in calculating the statutory reserves of the Ceding Company’s variable annuity business that is not reinsured hereunder or reinsured to a third party under any other agreement; provided, however, that Ceding Company Statutory Reserves shall at all times (i) be calculated on a stand-alone basis without regard to any other business of the Ceding Company and (ii) include any additional reserves that would be required as a result of stand-alone asset adequacy testing for the General Account Liabilities if they were not reinsured. For this purpose, stand-alone asset adequacy testing shall reflect assets and derivative positions consistent with how the General Account Liabilities would be managed if they were not reinsured.
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Ceding Company Statutory Reserves means, as of any date of determination, the aggregate statutory reserve (including IBNR reserves, unearned premium reserves and other premium accruals) amount for the General Account Liabilities calculated in accordance with the Ceding Company Domiciliary State SAP as would be reflected on Line 1, Line 3, Line 4, Line 6, and, solely to the extent relating to VUL CRVM reserves, Line 13 of the Ceding Company’s Statutory Financial Statement (or the equivalent lines in the event of changes to the Ceding Company’s Statutory Financial Statement subsequent to December 31, 2022), as calculated by the Ceding Company as of such date of determination (without giving effect to this Agreement) determined in a manner consistent with the Ceding Company’s historical practices, methodologies and assumptions (unless deviation from such historical practices, methodologies and assumptions is required by the Ceding Company Domiciliary State SAP as of such date of determination, in which case the Ceding Company and the Reinsurer shall cooperate in good faith in the implementation of updating such practices, methodologies or assumptions to comply with Ceding Company Domiciliary State SAP) net of (without duplication) statutory reserves
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Ceding Company Statutory Reserves means, as of any date of determination, the aggregate statutory reserve (including unearned premium reserves and other premium accruals) amount for the General Account Liabilities calculated in accordance with the Ceding Company Domiciliary State SAP that would be applicable to Ceding Company (as would be reflected on Line 1, column 1 of the Liabilities section and Exhibit 5; Line 3, column 1 of the Liabilities section and Exhibit 7; and Line 24.07 of the Liabilities section of the Ceding Company’s Statutory Financial Statement (or the equivalent exhibits or lines in the event of changes to the Ceding Company’s Statutory Financial Statement subsequent to December 31, 2022)), as calculated as of such date (without giving effect to this Agreement) using the same process and methodologies for modeling and setting assumptions as used by the Ceding Company in calculating the statutory reserves of the Ceding Company’s similar business that is not reinsured hereunder or reinsured to a third party under any other agreement, net of (without duplication) statutory reserves ceded pursuant to the Existing Reinsurance Agreements; provided, however, that Ceding Company Statutory Reserves shall at all times (a) include any additional reserves that would be required as a result of stand-alone asset adequacy testing for the General Account Liabilities if they were not reinsured, (b) exclude NI Modco Accounts Reserves and (c) include statutory reserves for the Reinsured Contracts that are annuity contracts in payout status.
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Examples of Ceding Company Statutory Reserves in a sentence

  • The Independent Actuary’s determination of the Reinsurer Statutory Reserves, the Ceding Company Statutory Reserves, [***] the CTEX Amount or whether the CTEX Amount and [***] were determined in accordance with the Required Balance Model and Calculation Methodologies shall be final and binding upon the Parties.

  • In each such event, the Ceding Company shall be entitled to an amount equal to the Ceding Company Statutory Reserves associated with such Reinsured Contract immediately prior to such conversion or exchange and shall be entitled to retain the Quota Share of all amounts received by the Ceding Company in connection with such conversion or exchange.

  • The Reinsurer shall be entitled to (1) the Quota Share of all amounts received by the Ceding Company in connection with each such reinstatement, and (2) to the extent not already included in such amounts transferred to the Reinsurer, the Reinsurer shall be entitled to an amount equal to the Quota Share of Ceding Company Statutory Reserves associated with such reinstated Reinsured Contract as of the effective time of such reinstatement.

  • The Independent Actuary’s determination of the Ceding Company Statutory Reserves shall be final and binding upon the Parties.


More Definitions of Ceding Company Statutory Reserves

Ceding Company Statutory Reserves means (a) the Ceding Company’s VM-21 Statutory Reserves and (b) the Ceding Company’s Non-VM-21 Statutory Reserves.
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Ceding Company Statutory Reserves means, as of any date of determination, the aggregate statutory reserve (including unearned premium reserves and other premium accruals) amount for the General Account Liabilities calculated in accordance with the Ceding Company Domiciliary State SAP that would be applicable to the Ceding Company (as would be reflected on Line 1, column 1 of the Liabilities section and Exhibit 5 and Line 3, column 1 of the Liabilities section and Exhibit 7 of the Ceding Company’s Statutory Financial Statement (or the equivalent exhibits or lines in the event of changes to the Ceding Company’s Statutory Financial Statement subsequent to December 31, 2021)), as calculated by the Ceding Company as of such date (without giving effect to this Agreement) determined in a manner consistent with the Ceding Company’s historical practices, methodologies and assumptions (unless deviation from such historical practices, methodologies and assumptions is required by Ceding Company Domiciliary State SAP as of such date of determination in which case the Ceding Company and the Reinsurer shall cooperate in good faith to update such practices, methodologies and assumptions to comply with Ceding Company Domiciliary State SAP): provided, however, that Ceding Company Statutory Reserves shall at all times be calculated on a stand-alone basis without regard to any other business of the Ceding Company (e.g., without regard to any diversification or aggregation benefits that may be available based on other business of the Ceding Company).
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Ceding Company Statutory Reserves in Section 1.01 of the Reinsurance Agreement is hereby amended and replaced in its entirety with the following:
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Ceding Company Statutory Reserves means, as of any date of determination, the aggregate statutory reserves (including unearned premium reserves and other premium accruals) amount for the General Account Liabilities for the Reinsured Contacts that are Annuitized Reinsured Contracts, calculated in accordance with the Ceding Company Domiciliary State SAP that would be applicable to the Ceding Company (as would be reflected on Line 1, column 1 of the Liabilities section and Exhibit 5 and Line 3, column 1 of the Liabilities section and Exhibit 7 of the Ceding Company’s Statutory Financial Statement (or the equivalent exhibits or lines in the event of changes to the Ceding Company’s Statutory Financial Statement subsequent to December 31, 2021)), as calculated as of such date (without giving effect to this Agreement) using methodologies for modeling and setting assumptions that are based on sound actuarial principles, take into account emerging experience data and are reasonable for an insurer of similar variable annuity contracts.”
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Ceding Company Statutory Reserves means, as of any date of determination, the Quota Share of the aggregate statutory reserves (including unearned premium reserves and other premium accruals) amount for the General Account Liabilities for the Reinsured Contracts that are Annuitized Reinsured Contracts, calculated in accordance with the Ceding Company Domiciliary State SAP that would be applicable to the Ceding Company (as would be reflected on Line 1, column 1 of the Liabilities section and Exhibit 5 and Line 3, column 1 of the Liabilities section and Exhibit 7 of the Ceding Company’s Statutory Financial Statement (or the equivalent exhibits or lines in the event of changes to the Ceding Company’s Statutory Financial Statement subsequent to December 31, 2021)), as calculated as of such date (without giving effect to this Agreement) using methodologies for modeling and setting assumptions that are based on sound actuarial principles, take into account emerging experience data and are reasonable for an insurer of similar variable annuity contracts; provided, however, that Ceding Company Statutory Reserves shall at all times include the Quota Share of any additional reserves that would be required as a result of stand-alone asset adequacy testing for General Account Liabilities if they were not reinsured. For these purposes, stand-alone asset adequacy testing shall reflect assets and derivative positions consistent with how General Account Liabilities would be managed if they were not reinsured.
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Ceding Company Statutory Reserves means, as of any date of determination, the aggregate statutory reserve (including unearned premium reserves and other premium accruals) amount for the General Account Liabilities calculated in accordance with the Ceding Company Domiciliary State SAP that would be applicable to the Ceding Company, as calculated as of such date (without giving effect to this Agreement) using methodologies for modeling and setting assumptions that are based on sound actuarial principles, take into account emerging experience data and are reasonable for an insurer of similar variable annuity contracts and, with respect to Reinsured Contracts that are not Annuitized Reinsured Contracts, are in compliance with VM-21 standards.
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Related to Ceding Company Statutory Reserves

  • Statutory Reserves means a fraction (expressed as a decimal), the numerator of which is the number one and the denominator of which is the number one minus the aggregate of the maximum reserve percentages (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established by the Board and any other banking authority, domestic or foreign, to which the Administrative Agent or any Lender (including any branch, Affiliate or other fronting office making or holding a Loan) is subject for Eurocurrency Liabilities (as defined in Regulation D of the Board). Eurodollar Loans shall be deemed to constitute Eurocurrency Liabilities (as defined in Regulation D of the Board) and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to time to any Lender under such Regulation D. Statutory Reserves shall be adjusted automatically on and as of the effective date of any change in any reserve percentage.

  • Inventory Reserves means such reserves as may be established from time to time by the Administrative Agent in the Administrative Agent’s Permitted Discretion with respect to the determination of the saleability, at retail, of the Eligible Inventory or which reflect such other factors as may adversely affect the market value of the Eligible Inventory. Without limiting the generality of the foregoing, Inventory Reserves may, in the Administrative Agent’s Permitted Discretion, include (but are not limited to) reserves based on:

  • Statutory Reserve Rate means a fraction (expressed as a decimal), the numerator of which is the number one and the denominator of which is the number one minus the aggregate of the maximum reserve percentages (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established by the Board to which the Administrative Agent is subject for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the Board). Such reserve percentages shall include those imposed pursuant to such Regulation D. Eurodollar Loans shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to time to any Lender under such Regulation D or any comparable regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve percentage.

  • Inventory Reserve means reserves established by the Administrative Agent to reflect factors that may negatively impact the Value of Inventory, including change in salability, obsolescence, seasonality, theft, shrinkage, imbalance, change in composition or mix, markdowns and vendor chargebacks.

  • Statutory Rape means sexual intercourse with a person who is under the statutory age of consent.

  • Annuity reserve means the present value, computed upon the basis of the mortality and other tables adopted by the board, of all payments to be made on account of any annuity, or benefit in lieu of any annuity, granted to a retirant as provided in this chapter.

  • Taxable value per membership pupil means each of the following divided by the district’s membership:

  • Pension reserve means the present value, computed upon the basis of the mortality and other tables adopted by the board, of all payments to be made on account of any retirement allowance or benefit in lieu of any retirement allowance, granted to a member or beneficiary under this chapter.

  • Statutory Statement means a statement of the condition and affairs of an Insurance Subsidiary, prepared in accordance with accounting procedures and practices prescribed or permitted by an applicable insurance regulatory authority or the NAIC, as modified in accordance with permitted practices approved by an applicable insurance regulatory authority, and filed with an applicable insurance regulatory authority or the NAIC.

  • Capital Account Record Date and "Income Account Record Date" shall mean the "Record Dates" set forth in the "Essential Information" in the Prospectus.

  • Title IV-E Foster Care means a federal program authorized under §§ 472 and 473 of the Social

  • Capital Account Limitation has the meaning provided in Section 4.5(b) hereof.

  • Combined state and local revenue per membership pupil means the district’s combined state and local revenue divided by the district’s membership excluding special education pupils.

  • Statutory Statements has the meaning set forth in Section 3.6(a).

  • Company Action Level RBC ’ means, with respect to any insurer, the product of 2.0 and its authorized control level RBC;

  • Book-Tax Disparities means, with respect to any item of Contributed Property or Adjusted Property, as of the date of any determination, the difference between the Carrying Value of such Contributed Property or Adjusted Property and the adjusted basis thereof for federal income tax purposes as of such date. A Partner’s share of the Partnership’s Book-Tax Disparities in all of its Contributed Property and Adjusted Property will be reflected by the difference between such Partner’s Capital Account balance as maintained pursuant to Exhibit B and the hypothetical balance of such Partner’s Capital Account computed as if it had been maintained strictly in accordance with federal income tax accounting principles.

  • Baseline actual emissions means the rate of emissions, in tons per year, of a regulated NSR pollutant, as determined in accordance with paragraphs (i) through (iv) of this definition.

  • Primary Reserve Requirement means the megawatts required to be maintained in a Reserve Zone or Reserve Sub-zone as Primary Reserve, absent any increase to account for additional reserves scheduled to address operational uncertainty. The Primary Reserve Requirement is calculated in accordance with the PJM Manuals.

  • Actuarial reserve means a method of financing a pension or

  • Section 385 Expanded Group shall have the meaning set forth in Treasury Regulation Section 1.385-1(c)(4) for an “expanded group”.

  • Xxxx Group means collectively Xxxx Capital Fund V, L.P., Xxxx Capital Fund V-B, L.P., BCIP Associates, BCIP Trust Associates, L.P. and Xxxxxxxx Street Partners.

  • Target Capital Account means the Capital Account of a Member as of the end of each fiscal year, increased by any amount that such Member is obligated to restore under this Agreement, is treated as obligated to restore under Treasury Regulations Section 1.704-1(b)(2)(ii)(c), or is deemed obligated to restore under the penultimate sentences of Treasury Regulations Section 1.704-2(g)(1) and (i)(5).

  • Xxxxx Group means Xxxxx and any Affiliate of Xxxxx.

  • Special Hazard Loss Coverage Amount With respect to the first Distribution Date, $5,000,000. With respect to any Distribution Date after the first Distribution Date, the lesser of (a) the greatest of (i) 1% of the aggregate of the principal balances of the Mortgage Loans, (ii) twice the principal balance of the largest Mortgage Loan and (iii) the aggregate of the principal balances of all Mortgage Loans secured by Mortgaged Properties located in the single California postal zip code area having the highest aggregate principal balance of any such zip code area and (b) the Special Hazard Loss Coverage Amount as of the Closing Date less the amount, if any, of Special Hazard Losses allocated to the Certificates since the Closing Date. All principal balances for the purpose of this definition will be calculated as of the first day of the calendar month preceding the month of such Distribution Date after giving effect to Scheduled Payments on the Mortgage Loans then due, whether or not paid.

  • Adjusted Capital Account Balance means, with respect to each Partner, the balance in such Partner’s Capital Account adjusted (i) by taking into account the adjustments, allocations and distributions described in Treasury Regulations Sections 1.704-1(b)(2)(ii)(d)(4), (5) and (6); and (ii) by adding to such balance such Partner’s share of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain, determined pursuant to Treasury Regulations Sections 1.704-2(g) and 1.704-2(i)(5), any amounts such Partner is obligated to restore pursuant to any provision of this Agreement or by applicable Law. The foregoing definition of Adjusted Capital Account Balance is intended to comply with the provisions of Treasury Regulations Section 1.704-1(b)(2)(ii)(d) and shall be interpreted consistently therewith.

  • Non-profit making companies means companies set up under the Companies Act, 1956/Companies Act 2013.