Existing Reinsurance definition

Existing Reinsurance means reinsurance ceded by a Participating Company that is in effect on the Effective Date, to the extent that such reinsurance relates to the Brokerage Business of such Participating Company.
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Existing Reinsurance means all reinsurance agreements that the Company has entered into with third parties in respect of the Covered Insurance Contracts, including without limitation the ING Retrocession Agreements entered into by the Company (other than the ING Retrocession Agreements that are novated to the Reinsurer in accordance with Section 7.11(b) of the Asset Purchase Agreement), and any reinsurance agreement entered into by the Company to replace any of such reinsurance agreements following any termination or recapture thereof, as all such reinsurance agreements may be in force from time to time and at any time.
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Existing Reinsurance shall have the same meaning that it has in the Traditional Program Business Pooling Agreement.
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Examples of Existing Reinsurance in a sentence

  • In accordance with the terms and conditions hereof, the Cedent hereby cedes and the Reinsurer hereby accepts as indemnity reinsurance on a modified coinsurance basis, the quota share of the Cedent's liabilities under the policies (the "Policies") listed in Schedule A, net of Existing Reinsurance as described in Schedule B.

  • Each Accounting Period, the Cedent shall pay to the Reinsurer a "Reinsurance Premium" in an amount equal to the Reinsurer's quota share of the gross Policy premiums and deposits collected during the Accounting Period by the Cedent, net of any premiums paid under any Existing Reinsurance as defined in Schedule B.

  • Each of the Participating Companies shall be credited with the proportion equal to its Pooling Percentage of the original premiums received under the Policies issued on or after the Effective Date, but after deduction of premiums, if any, ceded under Existing Reinsurance and Pool Reinsurance.

  • The Reinsurer shall bear all risk of collecting amounts due in respect of the Covered Insurance Policies under the Existing Reinsurance Agreements.

  • Within five (5) Business Days following the Reinsurer’s receipt of notice of any (i) change made due to Exigent Circumstances, or (ii) change required by Applicable Law, a Governmental Authority or any Existing Reinsurance Agreement pursuant to Section 2.3(a)(iii), the Reinsurer shall provide written notice to the Ceding Company of any disagreement that such change was an Excluded Policy Change.

  • The Ceding Company agrees that it shall, at the direction and expense of the Reinsurer, pursue commercially reasonable management and collection efforts with respect to the Existing Reinsurance Agreements and, in general, will cooperate with the Reinsurer in the management of the Existing Reinsurance Agreements.

  • Notwithstanding the foregoing, the Company shall reasonably cooperate with Administrator, at Administrator’s expense, in the administration of the Existing Reinsurance Agreements to the extent that the Company’s participation is required thereunder or is reasonably requested by the counterparty to any the Existing Reinsurance Agreement.

  • Schedule 2.2 sets forth a list of Existing Reinsurance Agreements for which the Ceding Company has received written notice prior to the Amendment Date of the applicable reinsurer’s intent to increase yearly renewable term rates after the Amendment Date.

  • The Company and Administrator agree to cooperate fully with each other and any Governmental Authorities in maintaining the Covered Insurance Policies, the Separate Accounts, the portion of the Shared Separate Account that relates to the Covered Insurance Policies and the Existing Reinsurance Agreements in compliance in all material respects with Applicable Law.

  • The Administrator shall use reasonable best efforts to prepare any necessary amendments to such Covered Insurance Policies, Separate Accounts, the portion of the Shared Separate Account that relates to the Covered Insurance Policies or Existing Reinsurance Agreements and shall prepare any necessary filings for the purpose of obtaining Governmental Authorities approval for such amendments.


More Definitions of Existing Reinsurance

Existing Reinsurance means all reinsurance ceded by the Ceding Company pursuant to the Existing Reinsurance Agreements.
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Existing Reinsurance means, for FWL, reinsurance under an automatic reinsurance agreement with Optimum Re Insurance Company, Number 2537-12AY05, dated May 1, 2012, and subsequent amendments, and for GPL, reinsurance under an automatic reinsurance agreement with Optimum Re Insurance Company, Number 2516-10AY01, dated January 4, 2010, and subsequent amendments, and for both FWL and GPL, bulk reinsurance agreements with Optimum Re Insurance Company covering accidental death benefit riders associated with the Reinsured Policies.
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Existing Reinsurance shall have the same meaning it has in the Brokerage Business Pooling Agreement.
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Existing Reinsurance means the reinsurance provided to Cedent under the Existing Reinsurance Agreements that cover Policies, as in effect from time to time on and after the Effective Date.
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Related to Existing Reinsurance

  • Reinsurance means the activity consisting in accepting risks ceded by an insurance undertaking or by another reinsurance undertaking or, in the case of the association of underwriters known as Lloyd's, the activity consisting in accepting risks, ceded by any member of Lloyd's, by an insurance or reinsurance undertaking other than the association of underwriters known as Lloyd's;

  • Reinsurance Agreement means any agreement, contract, treaty, certificate or other arrangement whereby any Regulated Insurance Company agrees to transfer, cede or retrocede to another insurer or reinsurer all or part of the liability assumed or assets held by such Regulated Insurance Company under a policy or policies of insurance issued by such Regulated Insurance Company or under a reinsurance agreement assumed by such Regulated Insurance Company.

  • Reinsurance Agreements means any agreement, contract, treaty, certificate or other arrangement by which any Insurance Subsidiary agrees to transfer or cede to another insurer all or part of the liability assumed or assets held by it under one or more insurance, annuity, reinsurance or retrocession policies, agreements, contracts, treaties, certificates or similar arrangements. Reinsurance Agreements shall include, but not be limited to, any agreement, contract, treaty, certificate or other arrangement that is treated as such by the applicable Department.

  • Insurance Contract means a contract (other than an Annuity Contract) under which the issuer agrees to pay an amount upon the occurrence of a specified contingency involving mortality, morbidity, accident, liability, or property risk.

  • Insurance Contracts means the insurance or annuity policies and contracts, together with all binders, slips, certificates, endorsements and riders thereto, issued or entered into by any Insurance Company prior to the Closing.